Investing in real estate in Spain has proven to be economically attractive as well. During the past year the value of real estate in Spain has gone up about 17.5%. The new laws regarding construction and sale of real estate have made buying a home in Spain safer than ever before. This was done primarily to meet the concerns of foreign buyers.
The amount of foreign investors that buy holiday homes in Spain has grown strongly over the past few years. The pleasant climate combined with the great scenery, fantastic culture and great food has attracted a great variety of people to the Spanish property market. Low interest rates, high growth on the Spanish real estate market and a growing demand for rental property in the tourism industry suggest that buying a house in Spain is a valuable investment, and will remain so during the coming years.
The type of property you should buy will depend on your tastes and specific needs – there is a wide choice. If the purchase is purely meant to be an investment, then it is more important to do some extra research and maybe get a real estate consultant to advise you.
It is often hard to make a choice between a house on the coast and a house in a more quiet rural area. The first, also a profitable option, requires a larger up-front investment. The second type of property is generally cheaper to purchase, but tougher to rent to holiday-makers.
The procedure for the sale/purchase of property in Spain requires the buyer to take decisions very quickly. After signing the contracts, the passing of titles and the payment of costs and legal fees, you are the proud owner of a beautiful holiday home. With the right amount of help from a Spanish speaking lawyer and consultant regarding wealth tax and income tax, many have already taken the step of buying property in Spain, and are now the owners of a peace of property investment paradise.
This article has been submitted by Just Landed