Spanish Property

2013 looks set to turn into a positive year for Spanish property. Most recently released reports summarising real estate sales and rental data from government and independent origins, reveal that the second half of 2012 observed a boost in global buyers looking to snap up good value property stock. And there are quite a few reasons why now is the right time..

Thanks to the mild climate, in excess of three hundred days of sunshine annually on the Mediterranean coast and abundant cultural history, the tourism business is still strong in Spain, with a reported 52 million tourists between January and October 2012. This robust tourist industry is helping support the Spanish property market, with plenty of people still eager to buy there. The British lead the way with 30 % of the international market share, but Russian, Scandinavian and Benelux customers are likewise large buyers. Sales at the back end of 2012 were up noticeably on the prior year. For example, on the Costa del Sol Taylor Wimpey de Espana recorded a fifty two per cent growth when compared to the first 9 months of 2011.

It's thought partly to be related to British buyers who have taken advantage of the strength of the pound above the Euro. But additionally, the Spanish government has announced a number of regulations designed to make purchasing rental premises in the country more inviting to overseas landlords. In particular, a tax relief initiative, wherein landlords will get all of the rental income they make from their portfolios. There have likewise been proposals by the Spanish authorities to offer residency rights to non-EU clients who spend more than 160,000 euros, which it is understood will be positive for the market if it passes through in 2013. The Spanish government is also enticing new landlords to Spain by adjusting the laws in favour of property owners so it will be more appealing to purchase properties and to rent them out through giving greater powers to landlords. All these measures appear to be having a beneficial influence on the Spanish property market.

Importantly, properties are affordable, in actual fact less expensive than they have been since 2002. The cost of Spanish property is low compared to price tags across Europe. You could get a flat for under 50,000 euros and a villa for less than 100,000. Plus your cash goes further; the cost of living remains far lower when compared to the UK.

A further contributing factor is that it's becoming that much easier to travel between the UK and Spain. With journey times at 2 - 3 hours and lots of companies delivering discounted deals, getting there has always been fairly straightforward and inexpensive. But now new flights are offered which includes new British Airways routes to Alicante, Barcelona, Palma and the Canaries and Monarch are now travelling from East Midlands Airport.

Spain has long been a mecca for British holidaymakers and those searching for a sunnier and more relaxed way of life elsewhere, and it seems now could be a good time to make the move, or an investment in property market.