Why Now is the Time to Buy Property in Spain.
It is no secret that the 2008 economic crisis hit Spain hard after its property boom collapsed, and with an economy that relies heavily on tourism, the country has struggled for many years to gain strength again. However, according to Spain’s tourism ministry, at the beginning of last year sun-seekers were choosing to return to Spain again as the number of visitors to Spanish destinationshit an all-time high. British tourists were at the top of the list, followed by the Germans and the French.
The international financial markets have been a key driver in the start of Spain’s economic recovery, having quite an impact on the property market. Property prices are still around 40% below what they were since the beginning of the recession but it has meant property investment has increased substantially over the last year or so as buyers see an opportune moment to buy again. Various reports have noted that 55% more British people bought a property in the first three months of last year whilst the number of online searches increased by 51% over the first six months.
This momentum has continued into 2015 thanks to the rise of the pound, dollar and Swiss franc against the Euro. Consequently, Unique Living has seen demand for luxury properties in Spain increase from British, American and Swiss buyers, keen to buy where tourists are flocking to take advantage of renting out their investments.
One of the many attractions of Spain is its local food, adored by both locals and those who visit on holiday. The food and services industry plays a crucial role in Spain and it has suffered tremendously when the recession hit. People were watching their pennies by eating at restaurants less and cutting down their supermarket bills. Local food outlets, quirky markets, food fairs and so on were disappearing by the day.
However, as the country slowly began recover, these local eateries and markets have started to become more popular with shoppers seeking good value for money and the tasty treats that Spain has to offer. With Spain offering absolutely delicious produce to ‘tantalise those tastebuds’, holiday makers are increasingly cooking their local cuisine at home be it al fresco or indoors. Why do you think so many Spanish properties have such impressive kitchens?!?