Spanish Property for Sale

Spanish Property - What is selling and what is not!

As has been well documented in recent months, the Spanish property market has slowed down considerably as many owners have tried to sell their "investment properties". Truth be known the property market in Spain has changed immensely over the course of the last year, and there are areas of the market that are now stronger than a few years ago.

In recent years Spain and the Spanish Costas led the charge as the best areas for investors to purchase an investment property. But developers and builders pushed too hard in many cases and began marketing investment properties with "rental potential" or open contracts that could be resold on properties that were in the wrong location, they were too small, were poorly constructed or they had no building licenses and worst of all a combination of some or all of the aforementioned. This led to many family investors buying into developments that were completely unsuitable. Today we have thousands of small one and two bedroom apartments on the market that family investors are trying to resell and in many cases rent out on short term contracts; and it is this phenomenon that has been read about in the press.

There is an upside to the story as professional investors and institutions are now re-entering the market and buying up these properties at prices that in many cases are the same as they were two, three or even four years ago. Why you may ask? Simply because they have the liquidity to buy and hold onto the properties for the next year or so before selling them on when the market is stronger - and it will return as it has done for the last four decades. As long as the sun shines in Spain and it remains only a couple of hours from northern Europe, the Spanish property market will flourish, perhaps not at 15-20% per year but steadily as it has since the sixties.

Nowadays family investors seem to be more interested in eastern European markets and new world hot spots, but doesn't this sound familiar? Wasn't Spain the place to be a few years ago? Do these new investment destinations boast year round tourism, over 300 days of sun each year. Is the infrastructure already in place, are there daily flights, would you want to live there?

For those in the know, Spain still is the place to be. The difference is that todays buyers are looking for lifestyle investments and not short term ones. Spain remains the number one destination in Europe for northern European looking to buy a place in the sun that they and their families can and will use on a year round basis. The climate is by far the most appealing in Europe, the regular flights remain inexpensive and the modern infrastructure is already in place.

Quality second homes, holiday homes and primary residences are the points of interest in Spain right now.

Spain remains the place to be seen and the place to be seen investing. The climate is still the best in Europe, the golf courses are playable all year, the education system and international schools are amongst the best in southern Europe, the medical and health care sytem is one of the most modernised in Europe if not the world. Telling your friends you were buying a property in Spain when everyone was jumping on the bandwagon became old hat a year or so ago. But buying in Spain now shows that you are making a lifestyle change, preparing either for the future or more immediately in many cases.

The amount of buyers investing in quality properties is still high. Golf villas, family sized townhouses and beach front apartments are selling on a daily basis. New developments are still being designed and more importantly sold on the Costa del Sol. Investors are still buying properties in Spain, but have now moved away from 60m2 apartments at the bottom of the market and are now paying a little more thought as well as a little more money to ensure that their investment will be rentable at completion and saleable in the future.

Larger family style developments aimed at the northern European market on the Costa Blanca and Costa Calida are also selling well. Although in many cases at a lower price than on the Costa del Sol, these "lifestyle resorts" are proving immensely popular with families who want to know that their Spanish villa is being well looked after in their absence. Rental incomes are unfortunately being somewhat inflated by some agents, but that said the properties remain extremely attractive for investors who wish to use the property themselves.

Polaris World has established itself as a secure name to consider when looking at buying a holiday home or a second property within a resort in Spain. With several communities and developments under one banner, the property owners will be spoilt for choice.

Owners who do not wish to purchase within a family resort are spoilt for choice on the Costa del Sol, with several new golf course developments offering very spacious and stylish villas, townhouses and apartments, most of which are built to a high standard and will make great homes and holiday homes.

Marble floors, underfloor heating, Climalit double glazing, storage rooms, lush gardens, great views and most importantly spacious, well designed floorplans are the new standard, as developers have realised - finally - that discerning buyers wish to purchase a property to be proud of.

You can buy some excellent properties from around 350.000 euros for a residential sized apartment in a good area or a family villa from approximately 600.000 euros. Beachfront property will always be at a premium. There are numerous developments from which to choose and an extremely healthy resale market. We were surprised to discover that over 60% of new developments were being purchased by the Spanish last year and this number has increased in early 2007. These are not all residential purchases but second homes and holiday homes being bought by the Spanish from Madrid and Barcelona areas as well as the other major cities. What other "investment hot spot" can say that their most lucrative market is their national market?

A new villa or holiday home in Spain is an investment that should be enjoyed by you and your family, not just a quick profit waiting to happen. Todays buyers are buying properties for themselves, properties that they want to stay in whenever they can. They are buying with a view to enjoying their property themselves with the added knowledge that they will see their investment mature steadily as years go by.

If you are looking to invest in a quality holiday home in the sun, within a short flight from home, there remains only one country that ticks all of the year round boxes - Spain.

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