Obtaining a property is always a serious and crucial step, especially in the foreign country. In order to understand what details to put more attention when choosing a property, you have to answer the main question – why do you need it.
Frequently, businesspersons prefer to invest in the commercial areas of Madrid and Barcelona, students and workers are searching for an apartment in cities with the necessary infrastructure, but most entrants are interested in the resort-housing sector. What could be better than relaxing on sandy beaches of the Mediterranean Sea? That is why the Spanish housing market has an obvious tendency: the most popular places are closer to the coast. There are several reasons for purchasing dwellings in Spain, and perhaps one of them just coincides with your desires.
The most frequent purpose of buying real estate in Spain are the following:
- To get a place for holidays on the golden beaches of the Mediterranean. Spain has the second largest coastal line in Europe (after Italy);
- Changing the permanent place of residence. Homes in Spain for sale are optimal in terms of price, quality, and low mortgage rates;
- Living while studying at the university;
- Successfully invest money. Now, the profitability is considered at 7.8% per year. Housing prices in Spain started to grow in 2014.
Obtaining a real estate in Spain could be a perfect investment. On renting, you can earn from 3% to 7% of the cost of housing per year. Consequently, if the property price is 100 thousand euros, you can earn about 5,000 euros per year.
The financial circumstances of buying houses in Spain are quite contributing. If you are able to confirm the required level of income, Spanish banks are ready to give you a loan to buy real estate on favorable terms. The bank can deposit 50% of the price of an apartment or house and payments can be stretched for a period of up to 15 years.
Home for sale in Spain could be a vital contribution to your health. In this country, the sun shines 320 days a year. The Mediterranean air benefits allergic persons, asthmatics and people with lung troubles. In appliance with the research published by «The Economist» life expectancy in Western Europe is 10 years higher than in Eastern. Such regions as Madrid, Castilla, and Leon, Rioja, and Navarra are in the list of the most long-living areas of Europe.
Experts ensure that in 2019, the number of real estate operations in Spain will rise, and the Spanish property will continue to reach new markets. Thus, the authoritative rating agency Moody’s predicts Spanish housing prices rise by 4.7%. The convincing majority of analysts accept the thesis that buying property in Spain is a good investment, which is capable to both generate long-term income and make a significant profit from resale in a few years.housing in Spain, Mediterranean, real estate, renting