IS SPAIN THE NEW INVESTMENT COUNTRY OF CHOICE??
In 2017 Spain became the world’s second most visited country with a record 82m visitors according to the PM Mariano Rajoy. This takes Spain ahead of the USA for tourist numbers, an impressive achievement and a 9% increase on the previous year. The number of visitors to Spain has increased every year for the last 5 years and this is despite the Barcelona terror attacks and Catalonia crisis. The only country with more tourists is France but this may change shortly.
The all year round mild weather, great food, modern transport facilities, unspoilt scenery and a rich cultural background make Spain a great touristic hotspot. It also has over 579 blue flags issued for it’s beaches, nearly double its nearest rival of Greece.
In addition to the above Anticipa, a leading real estate analyst in Spain, is predicting a national property price increase of 6.1% in 2018 with the expected number of properties to be sold at 526,000. However even with the expected increase the average Spanish property will still be valued at 27% lower than in 2008.
All of the above are contributing to the number of property investors who are now returning to Spain after the property slump of 2008. For a while it has been the UK that was the destination of choice for investors but with the growing uncertainty over Brexit and high prices Spain is now becoming an attractive proposition for many. According to a poll by Knight Frank of leading real estate investors, 20% of those consider Spain as their preferred investment opportunity with the UK accounting for just 12%. The reasons for this are a strengthening Spanish economy, attractive prices and a good choice of available units.
For those considering an investment now is the perfect time to start considering your options and finding our whether the purchase of a Spanish property is the right option for you.