Spain Property

With the America’s Cup yacht race only one-year away, tourism and property investment in Spain keep rising. And, while the impending event certainly gives Spain’s real estate market a boost, it is not the only reason for Spain’s undeniable popularity with tourists and investors across the world.

Without a doubt, Spain’s popularity has been a long time coming (nearly 15 years), with the America’s Cup contributing only mildly to predictions of future growth. However, tourism does play an undeniable role in past, present, and future property values. Whether investors are looking for their own Spanish getaways, investment properties—or a combination of the two—Spain’s popularity ensures that anyone investing in their soil will be pleased with the returns. Here’s why:

Tourism
Currently, Spain is the most popular destination for European tourists, with no sign of losing its appeal anytime soon. This benefits property buyers in two ways. First, a rising tourism industry can only help property prices—particularly in beach or resort locations. In addition, the savvy buyer can potentially rent out his home or apartment during tourist seasons and recoup mortgage costs.

Real Estate Development
Spain doesn’t lack for space, making it possible for foreign nationals to build homes, apartments, and villas, rather than choosing from existing ones. These homes, called “off plan,” are initially offered as scale models, allowing potential buyers to order a floor plan they like before ground is even broken. With Spain’s property prices rising every day, purchasers often find that their homes have risen considerably in price before construction is even finished. In addition, off plan buildings are generally much less expensive than completed properties. However, anyone purchasing off plan properties should plan on waiting a minimum of 12 months before construction is completed.

Despite the inherent value of purchasing off plan homes and apartments, those looking to purchase existing buildings in Spain won’t be disappointed. Relatively inexpensive apartments and homes can be found if one looks in the right areas, as Spain still has pockets of affordable places to live and invest. And, there is plenty of variety to choose from. Whether one is looking for.

Low Costs

Those looking for a European getaway will find that Spain is less expensive than other countries. However, the savings don’t end there. Inflation rates are very low, as are living expenses. From groceries to clothing, Spain is a bargain-hunter’s delight.

Quality of Life

Spain’s reputation for lazy afternoons and rowdy nights is hard earned—and dead on. Anyone who has visited Spain can attest to the relaxed, country feel that Spain radiates. And, while Spain does offer a life away from the rush of larger cities and corporate power lunches, it also offers many of the amenities and advanced technology available in faster-paced societies. It’s no wonder then, when it comes to quality-of-life, Spain ranks 11th in the world.

For the past fifteen years, Spain’s popularity among tourists has been undeniable. As more foreign retirees, businesses, and investors discover the beauty and charm of Spain, this popularity can only grow. For those seeking to make a sound financial decision, choosing Spain seems to be a safe bet.