Investing in Spain, especially Almeria, is an excellent choice for overseas property investors. Thanks to the rapid appreciation in Spanish property prices,the demand for Almeria property in particular among Britons continues to grow at a fast rate. However, before buying Spanish property for investment, one should consider several key factors to determine the best strategy for investing in Spain and use the services of an experienced and reliable Spanish real estate agent for sound property investment advice.
According to an article last year in “The Times”, which quoted a study by “The Economist”, over 600,000 Britons have chosen to make property investments in Spain. However, it is not too hard to see why investing in Spain is so popular with the British.
For one, the returns on investment in Spanish property have been simply spectacular, to put it mildly! With property prices in some of the most popular destinations for overseas property investments rising almost in the 15-20% range annually, many of these investors have been rewarded for their enterprise in investing in Spain with exceptional returns.
Even amidst fears that this kind of appreciation is unsustainable, most overseas property analysts still project at least an average of 5-10% annual growth in Spanish property prices, a higher return than several other investment options.
Another reason that lures Britons to invest in Spain is their ongoing love affair with the country. The year-round sunshine; peaceful, easy-going life; extremely affordable cost of living; sumptuous food and above all, a certain exotic character, have all appealed to investors who want to combine business with pleasure.
The excellent and inexpensive air connections to most destinations in Spain are certainly an important factor: many Britons find it cheaper and faster to travel to Spain than come to London!
Couple that with luxurious Spanish property set in the backdrop of more than 1000 miles of the magnificent Mediterranean coastline at a fraction of the price you would pay in the UK and you can see that investing in property in Spain is a way forward for many British people.
While investing in Spain is certainly lucrative, it would be wise to consider various aspects of buying Spanish property for investment. A thorough in-depth analysis with an experienced Spanish real estate agent and overseas property consultant, who can understand specific investment objectives and requirements, is the key to making a sound investment.
You should seriously evaluate the following aspects before investing in Spain: It is very important to be sure about what you want from your overseas property. For some, it may be the lure of a holiday home; for others, it may be the prospect of having an inexpensive retirement home; and for many others, it may be a purely commercial investment.
“Buying to let” is a big trend – Britons buy property in Spain and rent it out to generate continuous rental income. Understanding your true motives for buying property will be an important factor in determining the most appropriate investment in Spanish property.
Where to buy property in Spain? “Location” is probably the single most important factor in any property investment. However, choosing the ideal location to invest in Spain can be challenging due to the numerous exciting options available – be it in Costa Blanca, Costa Almeria or Costa Calida.
Should you invest in an extremely popular destination that is nearing saturation or should you rather choose a relatively untapped but potential high-growth area?
For example, investing in property in the Costa Almeria may be a better option than investing in the Costa Del Sol, in terms of budget and property prices. Or, if you are buying property for retirement purposes, you may be able to get cheaper options on the outskirts of the popular tourist haunts or commercial centres, whereas if you are buying property to let, you will have to consider investing in a completely different area.
An experienced real estate agent can help you weigh up all these factors and help you choose the best location in which to invest.
Which estate agent? If you get this decision right, your success with investing in Spain is virtually guaranteed. Think of your overseas property consultant or real estate agent as your personal investment portfolio manager with whom you trust your hard-earned money.
What kind of Spanish property do they have in their portfolio? What is their track record and experience in helping people buy Spanish property for investment? What is their reputation both locally in Spain and in the UK? All important factors to consider when looking for a new home in Spain.
By Prawny from Pixabay