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| Map of southern Spain |
Report on Spanish homes for sale in the Costa del Sol that offer the best value in Europe.
Another system of measuring property valuation conceived by the Organization for Economic Development (OECD) has devised research that Spanish homes show some of the best value for money in Europe.
Taking
into account over 10 years of analysis, the OECD has mapped out house costs in
a large number of the world's most developed economic nations against the
average wage, and studied this data along a long term projection.
Its
research uncover that Spanish property is really underestimated when incomes
are taken into account– purchasing
a home in Spain not only financially viable for the normal Spanish national,
as well as remarkably great value for money for British coming over with strong
Sterling and a high salary.
The
OECD study did set a score of 100 as the 'average'. A score of 110 does imply
that property in that location is at present over-priced by 10% against its
long term average.
Spain
currently has a price income score of only 74, implying that homes in Spain are
as of now 74% of price average over long term. It states that homes in Spain
are "under the valued price" by 26%. Considering that the current
score within the UK is 107, is shows that good value for money is achieved as
standard in the Spanish property market.
Another
country in Europe, Hungary has a score of 83 – is also close to Spain´s score, with
most other countries achieving either the mid-90s or 100´s above.
Spain's
real estate sector is vary varied, and properties in the more famous areas for
example, the Property for sale in Marbella Costa del Sol would likely score more like 100, yet the OECD research took into
account national predictive trends over a 10 year period.
Also,
the property sector has started to take note. Spain's financial improvement in
the previous 15 months, fortified by solid economies in northern Europe, have
enticed purchasers back to its property market, and 2016 is projected to be an
exceptionally solid year for the sector.
Besides,
when new tax laws are put into effect in the UK in April, Spanish real estate
will have an even bigger appeal. From April 1st, second homes purchased in the
UK will be liable to an extra 3% stamp duty on the purchase price, yet this
duty applies only to British property, not homes purchased in Spain.
So,
if you are a British national and have UK savings, you could be enticed to look
to secure your financial future with an astute property investment, there truly
is not a more discerning property market in Europe than Spain at this current
moment– and the research demonstrates it, concluding that Spain and the Costa del Sol is a great place to buy property.
