According to one professor the outlook for the Spanish property market is great. The real estate expert said that now is the best time
to purchase property in Spain. His confidence comes from all the data and
trends that suggest the next five years will be truly great for the Spanish
property market.
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| The future is still bright for property in Costa del Sol |
No doubt his words are going to be eaten up by the thousands
of people who are considering buying property in Spain. His words will
definitely be welcomed following the uncertainly of the Spanish property market
after the Brexit, which threatened to undo all the good that went into the
property market in recent years.
Bernardos believes that 2016 will be the first year in the
five-year golden period of expansion; a period in which every property asset
will grow in price. Mark Stucklin, a property insight expert, took Bernardos’
words to mean that Spanish property is definitely going to be a one-way bet for
the next five years. People looking to invest in property would do well
investing in the popular areas of Spain such as Barcelona, Madrid, Ibiza and
Merbella, along with most of the Costa del Sol.
But just what is behind the confidence Bernardos feels? He
also added that the low interest rates of Spain are helping make property there
even more attractive and that the recent economic recovery is helping to create
a perfect storm.
He says that the residential market in particular is
becoming a refuge for investors once more and that a key part of this is the
low interest rates. The low interest rates are helping to make monthly mortgage
payments far more affordable than the average rental prices. With this expected
five years of growth and better job security Bernardos believes that it makes
sense for people to begin buying rather than renting.
Bernardos believes that the disastrous decade that was
from 2006-2015 will be followed by five fantastic years of an excellent property growth from investors . The
interest from investors, coupled with the strong economic growth, will see the
end of the hangover and bring the real estate market to providence.
These are definitely decisive words. Bernardos is also
confident that if another international economic shock happens it will be
mitigated by an increase in spending in Spanish households and company
investment with a focus on construction.
Bernardos even had some words for people who were worried
that his words sounded as if they came from ten years ago. He assured those
people that there will be no room for speculators in this new golden property
market.
He added that even if speculative demand does make a
reappearance it will be much lower than last time and that banks have learned
their lesson and will not give people money to fuel their speculations.
