With the numbers backing up during the past couple of years and massive development, Spain is clearly a feasible choice to make real estate investments. The coastal area of Spain is the most visited area by foreigners, each year. The good climate, high standard of living, and vacation opportunities have given rise to its residential tourism.
But will the stable conditions of the sector be the same in the coming years? Will the trend we experienced in 2018 and 2019 still retain? If you are planning to purchase a dream home in this destination, be it a second home investment or your new permanent residence, look at the current real estate market scenario to make a better-informed decision.
Let’s take a closer look at a few predictions that will influence the Spanish property market in 2020 and beyond: -
According to TINSA, property prices have increased by 3.8% during the first 10 months of 2019. Even though the sector may experience a potential slowdown due to crisis, the market will still continue to emerge and offer fascinating opportunities to foreign investors.
Keep in mind, during the economic crisis, many areas were about to begin with construction but suddenly stopped due to a lack of resources and finances. So if you are planning to invest in Spain, ensure to evaluate the emerging areas. There is a possibility that they will become new life centres in the upcoming years.
Even though the Spanish property market is expected to grow in the near future, the process will still be slow and there are certain pitfalls to avoid. In that sense, a qualified team of real estate agents will help you to make sure there is no outstanding debt, survey, or procedure left to prevent disputes.
We offer genuine real estate assistance to both buyers and sellers, so if you need professional support, do not hesitate to speak to us.
