Are you considering buying a property in Spain? Maybe for Full Time Living, Investment or as a Holiday Home with a Rental Income potential. All these can be achieved throughout the Spanish mainland and islands, whether on the Costas or in the countryside.

Over the last five years the rapid growth in UK house prices and a continuing stable economy has enabled the number of British people buying in Spain to massively increase. This has come about owing to the growing equity in UK house-owners property, which can be released to fund overseas purchase, as well as a growing confidence in continuing low interest rates and the low cost of borrowing money.

House prices in Spain, traditionally much lower than in the UK, have seen a steady rise over the last decade creating a levelling effect against other European countries and now represent some 85% of the EU average. Prices on the Costas continue to out-perform property costs elsewhere in Spain and, typically, over the last 5 or 6 years have averaged some 17-20% per annum increase. The Spanish bank, BBVA , issuing a report during December 2003, has forecasted a figure for 2003 of 17% increase over the previous year with a slight levelling of prices during 2004. Localised areas like the Costa Blanca and the Costa Del Sol have, over the last 2 years, seen price increases well in excess of 20% per annum.

Demand continues to be high and over the next decade promoters have estimated around five million buyers, mainly from Northern and Central European countries, will be seeking a permanent or holiday home in sunny Spain.

Consequently, the potential for solid investment purchases in Spain continues to offer ‘would be buyers’ a far better return than could be expected on bank or building society savings accounts, the stock market and other traditional investment products.

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