Who doesn’t want to get a great bargain, when looking to buy a holiday property? Now is the perfect time to purchase property, if you have always wanted to buy a holiday home or to let in Spain. This is because in recent years the Spanish housing market has been in decline. People are not spending money on property in Spain. Therefore, there are more properties to buy than there are buyers. A buyer’s market is the result, and in this situation, you can purchase almost any property for a price that is right for you.
There are plenty of bargains to be found throughout Spain. If you are looking for a property in an urbanised area or something on one on an island, Spain has it all. However, as one property may seem like more of a bargain to one person than another, you need to research the best bargain and area for your available budget.
The Costa Blanca is one of the cheapest areas to buy Spanish property. Flats start as low as £40,000 and as high as £150,000. Bargains are found all over and a draw for some people is the party atmosphere of the town. For many people though, this area can feel a little too boisterous and ad-hoc. Although properties are not of the highest quality, they are cheap. Villamartin on the Costa Blanca has some grreat property bargains – you can see cheap Villamartin property here.
The Costa Brava on the other end of the spectrum, the properties here start as little as £150,000 for a fairly standard flat or apartment. This town is often seen as being a hub of Spain thanks to the fine dining, culture, transportation and shops it offers.
Along with these two popular locations, there are various areas where you can find properties to suit any budget. To find a good bargain though, you need to establish a budget you can actually afford. If you need help deciding on a budget, you should contact a mortgage lender or financial expert. Using a mortgage calculator online may also be of help.
Once a realistic budget has been established, start researching the towns and areas in Spain you are interested in. Factor into your research aspects such as:
Housing market stability
Cost of living
In other words, think about every aspect that will affect your purchasing power.
When you have found an area that meets your preferences and budget, you can then start looking at specific properties. A local Spanish property agent can provide invaluable advice and assistance with your search. They will be able to tell you about newly listed properties and give you a clearer understanding of what properties are inflated and which are bargains.
Bear in mind that the Spanish housing market is going through a slow period. Doing the right homework will help you a bargain. Once the housing market turns around, you may even start to make a return on your investment. It is possible that is ROI could be quite high, particularly if you put time and effort into your property and keep a hold of it for a considerable length of time.