At a time when an analysis by one UK-based relocation service has found that Spain is one of the best countries for those looking to get a foot on the property ladder, you may be interested in learning why it really is such a good idea to buy property on the Costa del Sol this year.
Indeed, recent news stories seem to back up suggestions that the Spanish property market is firmly on the way up – registrars in the country having also recently confirmed that prices went up by 5.67% during 2016, when measured by average price per square metre.
However, according to other data from the Global Property Guide, a combination of continued low prices and a 2.2% increase in salaries in the country over the course of last year is making Spain an especially suitable option for first-time buyers, ahead of such countries as Greece, Singapore and Switzerland.
But what is the background behind such figures, and if you are looking to become a property owner for the first time, why is now the best time to make your move?
Buyers urged to get involved as market picks up
With the Spanish property market still in early recovery after an eight-year depression in the wake of the late 2000s global economic slowdown, there is a combination of conditions that may not present themselves again for a long time to come to those looking to buy property on the Costa del Sol.
Indeed, some especially popular areas of the country – such as Barcelona and Ibiza – have recovered so quickly that it is already difficult for many buyers to find bargains. Elsewhere, though, there are still a sufficient number of repossessed properties in the hands of the banks to help keep prices low.
That situation will not last forever. As shown in part by the aforementioned salary increase, the Spanish economy is now picking up. When such factors as the country’s stable Government, safe streets, low interest rates and a more professional and reputable post-crisis property sector are also considered, it’s easy to see why so many people think now is a great time to buy property on the Costa del Sol.
There are few more attractive prospects than Spanish property in the early months of 2017 – so if you reckon that now is the time to purchase, our team here at Winkworth is ready and waiting to serve your most specific and demanding requirements.