News & Views

Spain is making a comeback

We have had a long love affair with Spain, although some of us have been more faithful than others. Some visitors return year after year, some buy holiday homes and some take the ultimate commitment and make a permanent move. Spain has long been a hotspot for international property investment and the Spanish Ministry of Tourism predicts that more than one million foreigners will set up home on the Spanish coast in the next five years.

There are many low cost airlines that fly direct to Spain which make accessibility from all over Europe cheap and easy. Spain has traditionally been one of the safest markets in which to invest as you could be sure of a strong rental income. The Mediterranean coast of Spain offers a warm climate year round, allowing for an abundance of outdoor pursuits including swimming and golfing. An excellent infrastructure is already established, including European standards in medical and social security services. Spain still offers value for money and remains popular for those looking to enjoy their golden years in the sun. Since the credit crunch hit, Spain has been one of the worst affected markets as developers got so carried away with the property boom that they are now left with a glut of apartments that are proving difficult to sell and therefore, real bargains can be found in both 'key ready' and resale properties.

The buying process in Spain is straightforward; there is plenty of expert advice on the subject but remember, the first rule is to use an independent lawyer.