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Investment in property in Spain

by John Saunders
28th Oct 22 4:18 pm

Investing in European real estate is a reasonable and far-sighted decision, so many are interested in houses for sale in Spain. This country leaves its mark on every person who has ever visited it. The high standard of living immediately catches attention: open and friendly Spaniards are very energetic, and the endless flow of tourists, eager to explore unique architecture and enjoy the colorful seascapes, come here annually.

The economy and real estate market are flourishing here, offering people from other countries many options for profitable investments. The special attraction of Spain is that it is ideal for spending time on vacation, as well as for doing business and living permanently. Each town offers modern infrastructure that allows you to move quickly using both your own and public transport, make purchases and organize a variety of leisure activities for yourself and your family.

Houses for sale in Spain: Location features

Today, the average price per square meter of real estate in Spain is about €2,240 per square meter. The cost of housing varies depending on the province and the distance to the sea, which is most often a decisive factor. Let us take a closer look at the most popular places where you can buy houses in Spain:

  • Madrid ranks seventh in Europe in terms of profitability for real estate investors. As the capital of Spain, it is a logistical and cultural center, which also affects prices – here they are among the highest.
  • Alicante. On average, 43% of home sales every year are made here. A good location in the southeast of the country with a coastline of 200 miles is the main reason for such high popularity.
  • Valencia.  This coastal region has a truly “Spanish” atmosphere thanks to its unique cultural heritage and a huge number of beaches.
  • Murcia. The province includes 150 kilometers of the resort coast of the Costa Calida and at the same time allows you to find affordable real estate for every taste.
  • The large region of Andalusia has shown a significant increase in home sales over the past few years. It combines the desert, the sea coast and the ski resort, so it enjoys special love among sports connoisseurs.

In general, the real estate market in Spain is constantly growing even despite the global financial crisis due to the Covid-19 pandemic, and there is an increase in the share of foreign buyers. The trend of recent years shows the increased popularity of real estate away from densely populated large cities – people have begun to appreciate personal space, light and tranquility more.

Houses for sale in Spain with benefit

Proper budget planning is based on a clear understanding of the goals of the purchase. Renting a property – long-term, commercial or for vacation, will ensure a good stable profit, and in the off-season housing can be used by the owner himself. To get the maximum income, you should study the selected region and view the options similar to yours. Places near the beach, large shops and restaurants are in the greatest demand.

If you have the opportunity to improve your purchased house, a good way to earn money for you can be house flipping – buying cheap housing, repairing and reselling at a higher price. With a competent approach, such a business will bring excellent profit.

Buying real estate in each European country has certain specifics. Foreigners need to get a NIE – a unique number necessary for transactions on the territory of the state, and having a Spanish bank account will be a big advantage and will greatly simplify the procedure. If you are afraid of difficulties, we advise you to contact a specialized agency, which often provides free legal support services when drawing up a package of documents as well as professional advice.

 

The above information does not constitute any form of advice or recommendation by London Loves Property and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Appropriate independent advice should be obtained before making any such decision. London Loves Business bears no responsibility for any gains or losses.

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