With property prices remaining low, is buying property in Spain a good investment? You can certainly get a lot for your money, for example near Mazarron in the region of Murcia in south east Spain a two bed apartment can be snapped up for less than fifty thousand euros, or a 4 bed detached villa with pool comes in at around two hundred thousand euros.
As the low property prices continue in Spain, it looks like foreign buyers are returning, accounting for over one fifth of residential property purchases in the first quarter of 2014. Properties are being purchased not only by private buyers, but also by big companies like JP Morgan and Goldman Sachs, who see the investment potential.
British investors still account for the biggest market share when it comes to foreign buyers, accounting for fifteen per cent of sales, closely followed by the French, Russians and Belgians.
So why are British buyers returning? Firstly, there is a feeling that the worst of the eurozone crisis is over, and that Spanish property prices may have bottomed out, or at least may be stabilising. The second factor is that you're now getting more for your pound. Last July the pound stood at just €1.05 but by July 2014 it had increased to €1.25. If you are going to invest in a second home, or make the move to a change of lifestyle, you may never manage to do it more cost effectively.
Looking at the market in more depth, property prices appear to be stabilising, a good sign ฝากขายทาวน์เฮ้าส์ with no sudden highs or the huge lows that have been seen in recent years. The rate of decline in prices has significantly decreased, and in some regions prices have begun to rise slowly, for example by 1.2 per cent in Madrid and 0.5 per cent in the region of Murcia in the first quarter of 2014.
Analysis by valuation firms indicate that approximately forty per cent of the value of property in 2007 has been wiped out. To move forward a new stability is required. And some hope is seen in the valuation per square metre average which was the same in May 2014 as it was four months earlier in January 2014; at 1371 euros per square metre. It could be that a stabilisation process is taking place and this may be cause for cautious optimism in the Spanish property market. Foreign investors appear to think so.
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