{"id":5563,"date":"2013-06-20T10:24:40","date_gmt":"2013-06-20T10:24:40","guid":{"rendered":"http:\/\/taylorwimpeyspain.com\/blog\/?p=5563"},"modified":"2013-06-20T10:24:40","modified_gmt":"2013-06-20T10:24:40","slug":"still-value-in-spanish-property-market","status":"publish","type":"post","link":"https:\/\/taylorwimpeyspain.com\/blog\/still-value-in-spanish-property-market\/","title":{"rendered":"Still value in Spanish property market"},"content":{"rendered":"<p><strong>Bargain-hunting Britons are jumping on to the Spanish property ladder as house prices continue to fall, says Clare Nessling, director at Conti, an overseas mortgage specialist.<\/strong><\/p>\n<p><a href=\"http:\/\/taylorwimpeyspain.com\/en\/property-in-spain\/mallorca\/el-puerto-ii---cala-dor\/3.htm\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-5564\" title=\"EL PUERTO II, A NEW TAYLOR WIMPEY'S RESIDENTIAL COMPLEX. SPAIN PROPERTY MALLORCA  This new property is situated in Cala d\u2019Or, the South-East coast of Mallorca island, Spain, very close to the glamorous Marina de Cala D\u2019Or, one of the best known marinas on the Balearic Islands.\" src=\"http:\/\/taylorwimpeyspain.com\/blog\/wp-content\/uploads\/2013\/06\/GAR0387-Large-e1371723761890.jpg\" alt=\"EL PUERTO II, A NEW TAYLOR WIMPEY'S RESIDENTIAL COMPLEX. SPAIN PROPERTY MALLORCA  This new property is situated in Cala d\u2019Or, the South-East coast of Mallorca island, Spain, very close to the glamorous Marina de Cala D\u2019Or, one of the best known marinas on the Balearic Islands.\" width=\"530\" height=\"332\" srcset=\"https:\/\/taylorwimpeyspain.com\/blog\/wp-content\/uploads\/2013\/06\/GAR0387-Large-e1371723761890.jpg 530w, https:\/\/taylorwimpeyspain.com\/blog\/wp-content\/uploads\/2013\/06\/GAR0387-Large-e1371723761890-300x188.jpg 300w\" sizes=\"auto, (max-width: 530px) 100vw, 530px\" \/><\/a><\/p>\n<p>\u201cIf you believed everything you read, you would avoid the Spanish property market like the plague. But it appears that foreign investment in the country is growing steadily with Britons leading the way. So what\u2019s the real story?<\/p>\n<p>\u201cThere are many reasons why it\u2019s actually a great time to buy a Spanish home. Bargain prices for a start. The Swiss bank UBS estimates that Spanish house prices have plummeted by up to 38% since the peak of the market, and that they\u2019ve got another 8% to go before bottoming out.<\/p>\n<p>\u201cThis, together with a concerted effort being made by regional estate agents and tourism boards to improve Spain\u2019s tarnished image, is leading to high hopes that increased foreign investment will eventually help to revive the country\u2019s property market.<\/p>\n<p>\u201cThe market should also be bolstered when a new law granting automatic residency to non-EU nationals buying property worth at least \u20ac500,000 is passed.<\/p>\n<p>\u201cAccording to the Bank of Spain and the Real Estate Registry\u2019s annual report, foreign investment in Spanish property increased by 17% in 2012 \u2013 the highest level since 2004, and British buyers accounted for more than 16% of the foreign market. In total, \u20ac5.54bn was spent by foreign nationals last year compared with \u20ac4.7bn in 2011.<\/p>\n<p>\u201cThe Spanish property market has experienced a very turbulent few years, but it still accounts for around a quarter of the enquiries we receive, and was actually the country we received most enquiries about last month.<\/p>\n<p>\u201cBuyers are in a strong position due to the number of homes available (an estimated two million) and the possibility of negotiating prices down even further with some very motivated vendors. It also helps that Spain offers cheap and easy access from the UK, and rental opportunities are good too. It basically ticks a number of boxes that Britain doesn\u2019t, including the weather!<\/p>\n<p>\u201cUnsurprisingly, mortgage availability isn\u2019t as good as it was a few years ago, but there are still lots of opportunities, especially if you have a healthy deposit to put down, and you can generally borrow up to around 65-70% of the value of the property. Rates currently start from just 3.2%.<\/p>\n<p>\u201cIt may be a good time to buy property in Spain, but as always, it\u2019s essential that you seek the right advice and go through the same process that you\u2019d follow if you were buying a property in the UK.<\/p>\n<p>\u201cThis includes taking independent advice from an English-speaking lawyer who is not connected to your seller, estate agent or property developer. It\u2019s most certainly a buyer\u2019s market, but you must choose carefully.<\/p>\n<p>\u201cSpain has had its problems, but its core appeal hasn\u2019t changed. For many buyers it\u2019s a lifestyle choice and they\u2019re attracted by the climate, amenities and culture, rather than earning a prospective fortune on their home there.<\/p>\n<p>\u201cAs long as you treat your property purchase as an investment over the long term, you can still buy with confidence, if you buy wisely.\u201d<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Bargain-hunting Britons are jumping on to the Spanish property ladder as house prices continue to fall, says Clare Nessling, director at Conti, an overseas mortgage specialist. \u201cIf you believed everything you read, you would avoid the Spanish property market like the plague. But it appears that foreign investment in the country is growing steadily with [&hellip;]<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[7,8,12,4,5],"tags":[1100,556],"class_list":["post-5563","post","type-post","status-publish","format-standard","hentry","category-costa-blanca","category-costa-del-sol","category-mallorca","category-spain","category-taylor-wimpey-de-espana","tag-conti-mortgages","tag-spanish-property"],"yoast_head":"<!-- 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