Investing in Spanish Property is it still an attractive proposition?
For many years now, investors and those looking to live the dream, have nominated buying property in Spain as a favoured profit-making destination. But, in more recent times, the general consensus is that prices are stagnating at best or even falling slightly in some areas. So is buying a property in Spain still an attractive proposition? YES!!!
From our experience, it still can be; but it is now more difficult to generate a good return. Whilst some lower end, especially re-sale, Spanish property is becoming increasingly difficult to sell OR rent, larger more luxurious specification property continues to be in high demand, (our market). None more so than Spanish Island's like Mallorca & Ibiza. Demand for 'high-end' property, remains exceptionally strong and we cannot see this changing for the foreseeable future. Indeed, this appears to be the focal point for many Spanish developers as many exciting, new projects are underway on Mallorca.
The attraction of buying on Mallorca comes from the exceptional quality and location of the sort after 'high-end' luxurious properties, as either an investment or for personal use. The new emerging 'Spanish investor' has now set their sights much higher. And this can only be good for the future of property investment on Mallorca. The main draw to this magnificient island is still year round sunshine, along with an abundance of health clubs, spas, restaurants and commercial centres; with the emphasis on quality rather than quantity. The results are staggering for both investor and second homebuyer alike, but only if you get in quick - the prices WILL rise over the next few years after taking a steady downward turn... the days of recovery are upon us.