Current Developments in Spain
Spain
Why Invest in Spain?
With around 2.8 million legal foreign residents in Spain, not to speak of ever-increasing tourism figures, Spain has become a top destination for foreign property investment.
The Spanish Ministry of Tourism predicts that more than one million foreigners will set up home on the Spanish coast in the next six years, and this figure is expected to treble by 2025.
The dream lifestyle is a new priority for northern Europeans who have become disillusioned with the cold climate as well as unhealthy, unsafe and hectic lifestyles. Spain, particularly southern Spain, offers a fantastic, warm climate year round, allowing for an abundance of outdoor pursuits, such as over 40 golf courses, beaches and an attractive Spanish culture. An excellent infrastructure is already established too, including European standards in medical and social security services.
The country also boasts some stunning beaches and breathtaking countryside which cater for all tastes. Rambling, golf, skiing, water sports and beach life are but a few of the ways in which residents and tourists enjoy the outdoors.
Spain is easily accessible from the UK, with links to countless regional airports. Budget fares abound and within two and a half hours you can be touching down in sunny Spain.
More and more people are disillusioned with their poorly performing pension and savings plans, PEPs and stock investments which continue to fall in value daily. This loss of confidence in the stock market has led to people searching for opportunities that can give a satisfying return on their investment.
Spain still offers value for money and excellent returns. The market remains buoyant and there is little sign of change for the foreseeable future. Despite a slight slowdown, construction continues relentlessly. Bought in the right locations, property remains the favourite form of investment.
Property prices in Spain remain a good deal lower than those in England too, allowing people to afford a holiday or second home, or indeed relocate to the country and retire early. Spanish properties are becoming more popular as they provide an excellent investment as well as a holiday home.
Off-plan purchases are a popular investment option for those in the know. You can avoid the full cost of paying for the property by paying in installments and selling the property on for a much higher price prior to project completion. Vast profits continue to be made with shrewd off-plan investment.
There's also a large flourishing rental market in Spain and investment in a property with good rental potential can achieve excellent returns. Spain is a top choice for tourists who enjoy a variety of self-catering accommodation, apartments and private villas.
Rising prices seem set to continue for the foreseeable future, in both the popular coastal resorts as well as in easily accessible inland regions. Spain has a stable and mature property market, while prices have risen by 48% in the past three years.
Spain - Key Factors
Political and economic stability with continuing growth.
Stable GDP growth running 3% in 2006.
Interest rates lower than UK with easy access to non resident mortgages.
Secure and protected property purchase environment.
One of the most established holiday destinations in Europe.
Voted within the top 20 places to buy abroad by 'A Place In The Sun'.
HiFX Global Property Hotspots Report shows that Spain still remains the top destination for UK citizens buying overseas property with 27% of all enquiries relating to UK citizens buying in Spain.
Number of Foreigners relocating to Spain is expected to treble by 2025.
Accessible by all major airlines, with massive investment and expansion of Malaga Airport.
Huge additional investment in progress and in the pipeline, including a high speed train link to Madrid, a potential channel tunnel between Spain and Morocco and the opening of the first European Caesars Palace casino in 2008, situated between Malaga and Madrid on the new train line.