House Prices in Spain Are Recovering
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Its a great time to buy property in the Costa del Sol as prices are rising
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It’s taken nearly a decade to reach this point but Spanish house prices have officially turned an important corner.
This is actually the first time Spanish property prices have risen since 2007.
This news is important for both buyers and sellers of property or resale property in the Costa del Sol and the whole of Spain. Buyers benefit because they feel confident that even houses bought at bottom end prices are still part of this house price increase.
If you’re interested in selling your house then property prices rising makes it easier to sell your home, especially for the asking price you have in mind.
While the property prices in Spain have increased on an average there is a lot of variation between the house prices in the different regions of Spain.
The Costa del Sol for example has seen some of the best rises and also in the Balearics Islands, Mallorca, Ibiza and Malaga. Though there are also regions that are still experiencing price drops such as Almeria and Murcia.
Buyers are now in a can’t lose position in many areas. These house prices will never be as low as they are right now. This is the rock bottom price and fell from its highs in many areas from somewhere between 33-48% below the prices seen in 2007.
When you buy a house the value should rise quickly. House prices are expected to rise an average of 6% in 2016.
When you compare this to the interest gained by leaving your money in the bank instead and you can see that buyers and property investors are better off buying a property in areas like southern Spain.
Property investors are now flocking back to Spain to take advantage of these prices. International investment is a huge market at the minute with some funds getting involved in multi-million euro property investments.
But what about the average home owner in Spain who is interested in selling their house? The confidence that buyers are returning to the Spanish property are at the highest it’s been for a while. Foreign buyers in particular are investing in most of the properties that are being sold on the Costa del Sol and Balearics.
So it doesn’t matter where you live. All that matters is that your home is in a good condition. It should be at least as good as the other properties around you if you want to sell it.
You should get started with a good old fashioned spring clean. Pay attention for other tips to enable you to increase your property price and get the best deal in this more positive market environment. Please feel free to contact us for advice on selling or buying property in the Costa del Sol.
