There has never been a better time to buy your dream home in the sun, so make 2015 the year that you snap up a property along the Costa del Sol in Southern Spain.
The purchase of property by foreigners in Andalucía has risen by 36% in a year so, whilst overall house sales in Andalucía remain at a level far distant from the real estate boom, foreign buyers seem to be back with a vengeance, with the British leading the way.
Why are they choosing Spain?
The reason that foreign buyers are opting to buy a home in Spain as opposed to other destinations is the abundance of affordable and desirable properties in wonderful locations within close proximity to airports and transport systems.
Talking to the Spanish media at the 2014 Annual IMF Meeting in Washington DC, Christine Lagarde, (Head of the International Monetary Fund) congratulated Spain for the reforms it has carried out and stated that the country’s economy is returning to health. “Spain has turned the corner,” she said, predicting economic growth of 1% in 2015.
So although Spain is not totally out of the woods as far as the economic crisis is concerned, it seems that unsold homes on the market should largely be cleared by 2017 and that new building programmes will begin this year as shortages emerge in high-demand areas.
Whether you are looking for that retirement home or holiday property it seems as though now is the right time to get in on the act, before others jump on the bandwagon!