Guest post by David Showell
The world’s economic difficulties seem to have dominated the headlines in our newspapers and on our televisions for three or four years now and there is currently very little sign of an end to the problems. No doubt a recovery of some sort will come some day, but at the moment it seems a very long way off. Perhaps unsurprisingly, investment in property is one of the first activities that slows up during any recession, and that’s certainly the case with the current one.
It’s hugely important to remember that it’s not all doom and gloom at the moment, though. For anyone who is considering the purchase of a home, especially a holiday home, there are some wonderful bargains just waiting to be snapped up. The same properties will cost a significant amount more in three or four years when the economy has recovered, so anyone who is in a position to buy will need to think hard about whether to do so now.
In several countries across Europe, the effects of the recession have been dramatic, and Spain is one of the nations which have suffered the most. Along with Greece, Portugal and Ireland, we’ve been fed regular media stories about the hardships, and it seems the whole continent will continue to face problems for a while yet. The Spanish property scene is relatively stagnant at the moment, but experts tend to agree that prices are noticeably low.
Plenty of choice, plenty of value
Needless to say, buying a holiday villa during economic difficulties is something of a gamble, but it’s generally assumed that prices are unlikely to dip any lower. Therefore, now could be an excellent time in which to dip the toes in the water. Thanks to a construction boom that lasted several decades before the economic upheavals, Spain is home to a stunning selection of properties of all shapes and sizes, so the purchaser can be sure of an excellent choice.
Of course, the country has been welcoming expatriates on a permanent basis for many years, and although the tide of emigrants has slowed down in recent times, a significant number of Britons still relocate to Spain every month. Attracted by the stunning climate, the friendliness of the locals and the pleasingly slow pace of life, there have been some recently who came because they found a great deal on the property market.
Buying a home abroad, whether for holidays or as a permanent residence, is of course a big step, so it’s always best to speak to those in the know first. Anyone who is considering such a purchase would do well to talk to people who have already done so, so the first step in the process should perhaps be to approach an online forum to gauge the opinions of others.
David Showell lives in the UK and has visited Spain on many occasions. When he’s not travelling abroad, he’s working for www.carrentals.co.uk.