Are you ready to seize current opportunities in the foreign real estate market? Do you want a competitive and extensive international property portfolio? Are you aspiring to exceed investors’ expectations and benefit from the Pound’s strong buying power? Well, according to overseas mortgage specialists Conti, Spanish property “remains top of the list for British buyers”. Simple logic beckons Spanish real estate to be part of your international property portfolio.
Conti’s research confirms Costa Blanca is the top destination followed by Costa del Sol and Balearic Islands. Spain’s natural beauty has long remained an unrivalled attraction for British buyers, but at times its economic climate has deterred investors. Of late, adroit estate agents have noticed an upswing in Spain’s economy and started buying Spanish property due to its low-risk-high-return investment appeal. Here are 3 reasons why it’s particularly lucrative for you to buy property in Spain:
Spanish property is selling for half the price it was at the peak of the market. The nature of the economic cycle dictates it’s a prudent time to buy because the market hasn’t fully recovered from the 2008 economic crises. It’s still growing and remains immensely competitive with relatively low prices. If you investigate and shop around, you can find bargain deals for your clients.
Investors love getting more value for their money, and the Pound’s strong buying power guarantees their money goes further. It doesn’t make sense to buy a shoe-box sized home in London when you can purchase a spacious apartment in Spain that’s cheaper and benefit from its exceptional climate and outstanding public amenities.
2. Economic Stability
The International Monetary Fund (IMF) predicts Spain will be the fastest growing of the ‘Big Four’ Euro economies over the next two years. Recent research shows prices increasing year-on-year since November 2015, with The Bank of Spain noting a 6.6% growth in residential Spanish property investment during 2016.
Spain is the go-to destination for foreign buyers, especially in Britain where rising local house prices have made expanding property portfolios an impossibility. It's well worth adding Spanish real estate to your portfolio sooner rather than later. As the demand soars, advantageous deals for clients will be harder to come by, and you’ll face steeper competition.
3. Satisfying Buyer Needs
No property is worth selling if it doesn’t meet your client’s wants and fulfil their investment desires. Spain's’ real estate market is diverse and meets most, if not all needs of your different buyer personas. It’s easy to market whether you’re dealing with a retiree or a young couple.
Buyers tend to use Spanish property in the following ways; for holiday and retirement homes or buy-to-let residencies. Holiday homes are simple to sell to couples, who travel often and are looking for a European base or families who’d like a permanent vacation destination that grows their financial nest egg and eases the stress of paying for accommodation.
Retirees gravitate towards Spain because of its excellent healthcare, accommodating climate and the opportunities provided to embrace a comfortable, yet active outdoor lifestyle. Spain’s proximity to the UK is also a major selling point because visiting family and friends is merely a flight away.
Over and above this, all your potential buyers have the advantage of renting out their properties to short or long-term tenants depending on their investment plans. If you manage to sell prime property in Spain’s coastal region, then your client’s can also take advantage of high rental demands, particularly during tourist season.
Buying Spanish real estate is an intelligent investment for your agency because it meets the financial and emotional needs of most potential clients. To learn about expert marketing methodologies and how to successfully sell Spanish real estate, you can download our ebook, How to Market the Spanish Properties in Your Portfolio. If you’re determined to sell the best Spanish property, then look at our trendy property for sale in Costa Blanca - Spain’s number one destination for British foreign investment!
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