Review of Spanish property market in 2016
2016 has been quite a year. We have seen a lot political changes with the UK’s decision to leave the EU, uncertainty in exchange rates across the world and not to mention the new USA president in Donald Trump.
Despite these uncertainties, it’s not all bad news for the Spanish property market. In 2016, sales of Spanish properties actually increased compared to the previous year. In October 2016 the market saw an increase of 6.5% higher sales compared to the previous year. Additionally, the 10 month cumulative total of Spanish properties is 13.9% higher than the same period in 2015.
This is great news for the market. Property in Spain is still good value and although some areas saw a slight increase in prices, coastal areas like Murcia have remained stable.
Predictions for 2017 by a respected property portal see a 6% increase in the price of Spanish properties. However, the market also suggests that demand for Spanish properties is likely to stay consistent.
It’s still a great time to buy
Buying a Spanish property is a great investment. Renting out your property for 3-6 months can generate 4-6% returns. This investment is likely to be much more rewarding than investing into a British high street bank, where in contrast you will get around 1% return.
At Spanish Legal Homes, we have over 500 properties in Costa del Sol, Costa Blanca and Murcia. Each region enjoys an average of around 300 days of sunshine every year and benefits from having numerous white sandy beaches. Our properties are close to local Spanish airports and with the current popularity of these areas, most British airports have frequent seasonal return flights.
Investing in a Spanish property may seem like a long process, but the team at Spanish Legal Homes will hold your hand through it, offering expert advice and guidance at all stages.
There are a number of ways to find out more about purchasing Spanish property
Spanish Legal Homes organise viewing trips to Spain where you can view multiple properties within your budget and needs. We will fly you over to Spain, set you up in a 3-4* hotel and provide all meals, whilst showing you Spanish properties we know you’ll love. These trips are just £99 p.p. and truly are the best way to view and buy Spanish property. To book a viewing trip, please click here.
Alternatively, visit us at a Spanish property show. We’ll be attending A Place in the Sun Live in Olympia, London in May 2017. Come join us and benefit from talking to our great team who can provide you with expert advice and knowledge on purchasing Spanish property. We are giving away free tickets to the event, to reserve yours click here.