Spanish property continues to shine
Whether it’s foreign investment, rising rents or property prices, Spanish property continues to shine.
In 2016 the highest proportion of foreign buyers in over a decade, bought 13.2% of all Spanish property sold. A breakdown of foreign led transactions show Brits bought 19% of the 53,500 homes sold to foreign investors and are continuing to invest. This despite concerns over the potential impact of Brexit.
It was not just one nation either, France (8%), Germany (7.6%), Sweden (6.7%) and other countries all contributed in last years rise. A 2017 market report from JLL however, suggests that percentage will comfortably be reached and excelled upon this year.
Overseas buyers have already spent €888 million on the Spanish property market. Almost double the investment than the first six months of 2016. This year will therefore represent the eighth consecutive year of foreign buyer growth in the Spanish housing market.
According to Mark Stucklin of Spanish Property Insight, more people in Spain are renting. Since the nations property crash and credit crunch, Spaniards are choosing to rent, especially the young. He believes this growth is a positive sign and will attract both foreign and local investors.
Short term rentals to tourists offer high rewards for landlords in a short amount of time. But it’s the long-term rental market that shows few signs of slowing down. Particularly along the coast where rents have increased 10% percent this year.
In 2017 the EU’s statistics office, Eurostat, announced the average price of Spanish property was 5.3% higher in the first quarter of this year, compared to 12 months previously. Much of the increase is due to a rise of 2.3% in the first quarter alone. Better than the EU (0.7%) and Eurozone (0.4%) rises.
Spanish property prices are also being affected by foreign interest as they are rising fastest in coastal areas where second homes are popular.
Las Collinas captures an ideal balance of relaxed living with easy access to every imaginable amenity that promises residents absolute luxury.
The apartments bring high rental costs and feature large two and three bedroom apartments starting from €126,900. As such, Golden Properties has secured this unique cash flow positive opportunity on 100% finance.
- 90% finance available
- Below market value
- High rental demand
- Cashflow positive