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Expat investors urged to buy now as Spanish property market soars
| Published: | 23 Jan at 6 PM |
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Would-be expats who’ve been sitting on the fence as regards committing themselves to a Spanish property are being urged to buy now as the market soars.
Local property reports are forecasting yet another year of property price increases, with at least a six per cent rise by the end of 2018 following on the increases over the past four years. The Spanish real estate market is one of the EU’s success stories for the speed at which it recovered from the 2008 financial crash’s subsequent several years of plummeting prices. Over the past four years, house prices have risen by 21 per cent, with the positive trend forecast to continue.
For would-be expats and expat investors looking to secure a holiday home before prices get even higher, the option is either to pay cash or apply for a mortgage. The latter can be made easier by appointing a mortgage broker to sort out the best deal for your present circumstances. In Spain, mortgage brokers aren’t linked to Spanish banks, but are working exclusively for their clients in order to secure the best rates and deals available to suit the buyer’s immediate circumstances.
Brokerage fees are paid on completion of the deal, with individual brokers aware of all available products and committed to ensuring the right mortgage is offered, as in Spain there’s no switching products as can be done in the UK. At the present time, Spain’s property market is rated as the fourth-best investment opportunity on the planet, with the USA at number one and Brazil and China in second and third places. The Costa del Sol is ever-popular as a property investment destination for its high tourism throughput and popularity with expats still arriving from the UK.
Local property reports are forecasting yet another year of property price increases, with at least a six per cent rise by the end of 2018 following on the increases over the past four years. The Spanish real estate market is one of the EU’s success stories for the speed at which it recovered from the 2008 financial crash’s subsequent several years of plummeting prices. Over the past four years, house prices have risen by 21 per cent, with the positive trend forecast to continue.
For would-be expats and expat investors looking to secure a holiday home before prices get even higher, the option is either to pay cash or apply for a mortgage. The latter can be made easier by appointing a mortgage broker to sort out the best deal for your present circumstances. In Spain, mortgage brokers aren’t linked to Spanish banks, but are working exclusively for their clients in order to secure the best rates and deals available to suit the buyer’s immediate circumstances.
Brokerage fees are paid on completion of the deal, with individual brokers aware of all available products and committed to ensuring the right mortgage is offered, as in Spain there’s no switching products as can be done in the UK. At the present time, Spain’s property market is rated as the fourth-best investment opportunity on the planet, with the USA at number one and Brazil and China in second and third places. The Costa del Sol is ever-popular as a property investment destination for its high tourism throughput and popularity with expats still arriving from the UK.
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