Buying a Home In Spain

Every year thousands of people living in the cooler European countries such as the UK, Holland, Germany and Scandinavia look to the southern countries to purchase a second home or a retirement home with the benefit of living in a warmer climate. Probably the most popular European country for expats in Spain. However since 2008, the country has suffered a crippling economic crisis which left many expats without work and with mortgages they were unable to pay and homeowners across the country found they were victims of severe negative equity.

While the situation has been dire for many, others were able to take advantage of the collapse of the Spanish property market, as upmarket and luxury homes that had previously been valued at an amount such as €400,000 could now be snapped up for around half that amount.

Purchasers who were able to take advantage of the low prices may now be seeing a small return on their investment, as according to the owner of an estate agents in Javea, on the Costa Blanca in Spain, says sale of apartments, villas and land are moving again and the market is picking up at a steady progressive rate.

This will be welcome news for anybody who owns a property in Spain, and hopefully be upwards trend will continue in 2018.