Investment Property in Spain

It's being reported that property prices fell by c 5% over 12 months to the end of January 2010 according to Tinsa's price index, which is a small improvement on the 6.6 per cent declines recorded back in December. Further anecdotal reports suggest that Brits are now starting to buy Spanish property again with activity in the market looking stronger as buyers move quickly on discounted properties. Developers now know that sales are hard to come by if they don't drop their prices enough and so many buyers are getting discounts of 20 to 40 per cent. Some potential buyers may be concerned that prices are too far off their peak but, if you buy wisely and invest in high quality property in an area which isn't too overdeveloped, prices should regain their value faster as and when repossessed properties dry up.

As the Euro weakens and looks set to fall even further now is probably the time to look at owning a second home in Spain. One Spanish developer has come up with an interesting idea of trying before buying. Potential buyers are welcome to try a reduced luxury apartment or penthouse in the Lomas Del Rey development in Marbella, renting it for a year. The rent paid over the course of the year will then be deducted from the price of the property should you choose to buy.

Tourist figures, it's clear the numbers are back on the up. The number of tourists rose in January compared to last year, which put an end to 18 consecutive months of declining figures according to the industry ministry. Last month, 2.54 million tourists visited Spain, up 1.1 per cent over the same time in 2009 with Brits accounting for one-fifth of all arrivals in January. The number of German visitors rose by 6.3 per cent, accounting for 16.4 per cent of total visitors to Spain. The government has now increased the amount it is investing to further develop Spain as a tourism destination by 6.4 per cent in an attempt to push rising tourism figures up further.
You can locate similar articles on Our Blog