The role of international buyers in aiding the recovery of Spanish property market has never been more important than it is at the moment. Figures show a significant increase in the number of Spanish homes changing hands. There is a high likelihood that the Spanish market will only continue to recover in 2017 as the lower priced locations begin to get highly requested for.
Co-founder of Lucas Fox International Properties, Alexander Vaughan in a statement confirmed that the last 12 months showed a great promise for the property market in Spain.
‘We believe that a growing economy, low financing costs, good potential for rental returns and capital appreciation will continue to drive sales throughout 2017 and beyond,’ he said.
Other places with an expected rise in demand include LaFranc, Calella de Palafrugell, and Begur. The weak local demand for properties in Spain is easily offset by a high demand from foreigners who are attracted to the country and want a second home there. One in five Spanish property sales goes to foreigners, which means that the market will only continue to improve.
In the same vein, Head of research at Spanish property portal Kyero, Richard Speigal, noted that a 15% rise in house sales in Spain has been recorded, with 10 straight quarters of growth.
In 2017, a developing trend in the Spanish property market would be buyers seeking more value for their money. Evidence of this is already visible in the rise of lower priced locations having better benefits in the eyes of international buyers.
Spanish Property Market hotspots in 2017 include Almeria, for its traditional charm which international buyers find irresistible. Alicante, is another area showing a steady rise in its market value. The secret? Fabulous beaches, sales growth and prices up to 15% below average.
Are you looking to buy property in Spain ? Estepona , Torrevieja , Orihuela Costa , Ciudad Quesada , Puerto De Mazarron
Are you looking to rent property in Spain ? Madrid , Barcelona , Sevilla , Granada , Cumbre Del Sol
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Kenneth Martin
Experienced and professional in-house writer Ken has written for several publications and has a passion for housing, finance and mortgage news. He has developed an expertise in international real estate news and enjoys extending his knowledge to the regions that homesgofast.com cover.