BEST HOME – BUYING OR INVESTMENT OPTION IN SPAIN
Purchasing a home to live or invest in Spain has brought new and exciting opportunities over the last few months for the British public thanks to the proliferation of growingly established Low Cost or Outlet fairs in the Iberian Peninsula.
Given the refusal or impossibility of purchasing property by Spanish nationals and the constant recovery of the British Pound to the Euro, the possibility of buying a home in Sunny Spain has taken centre stage over the last semester.
The moment is now. Home pricing has plunged 12% on average in the last quarter in Spain, home to over one million properties up for sale. Banks own the majority of these real estate assets due largely to payment defaults by the construction sector.
The leading Low Cost Property Trade Fair in sight is Madrid’s RESIDENTIAL OUTLET Show (Salón del OUTLET RESIDENCIAL de IFEMA) scheduled for 24th September. It is truly an excellent chance to seize one of the many real estate bargains available today.
Purchasing a home to live or invest in Spain has brought new and exciting opportunities over the last few months for the British public thanks to the proliferation of growingly established Low Cost or Outlet fairs in the Iberian Peninsula.
Given the refusal or impossibility of purchasing property by Spanish nationals and the constant recovery of the British Pound to the Euro, the possibility of buying a home in Sunny Spain has taken centre stage over the last semester.
The moment is now. Home pricing has plunged 12% on average in the last quarter in Spain, home to over one million properties up for sale. Banks own the majority of these real estate assets due largely to payment defaults by the construction sector. Likewise, these financial entities have been refusing credit lines for new property construction, thus controlling de facto the Spanish property market. Consequently, sale prices will foreseeably stagnate over the following months.
Meanwhile, in view of the impossibility of refinancing their debt or requesting new loans, construction companies are offering compelling discounts on their property development portfolio. They need the cash pronto, so they have interesting bargains on their homes offer.
Low Cost property trade fairs in Spain are in full bloom as a leeway to market existing stock and secure liquidity. They have become one of the preferred marketing channels in the present juncture: the British public has unmatched payment conditions for either new or second hand property.
Homes & Watson will be attending the late-September real estate show for research purposes and to advise British buyers concerning the hottest investment opportunities in Spain.
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