Why Southern Spain?
The simplest and quickest answer to this question is; because people want to live or spend time here. If you buy a property for your own use you will come to realise this, as a never-ending stream of relatives and friends rush to visit you.
What many of the thousands who buy here every year have in common is the desire for a better quality of life.
In a world where we are encouraged to eat healthily, exercise regularly and de-stress, people are starting to listen. The mantra of ‘because I’m worth it’ has taken hold and we are more motivated to improve our lives.
The infrastructure of services and amenities is well established in Southern Spain and adapting to life here is not too daunting for most. As part of the EU we are free to work in Spain, claim our pension in Spain, receive healthcare in Spain and with the help of the Internet run our business from Spain. Accessibility to airports and availability of low cost flights throughout the day and night allows those who need to, to commute to any European city in as little time as it probably takes their native colleagues in rush hour traffic.
What this means for the investor is that more and more people will choose to relocate to Southern Spain because it’s easy, it’s an adventure without being too much of an adventure and because we are worth it.
In real terms property prices in Malaga province rose by an average of 26% in 2003 (source: TINSA). This follows the trend set in previous years. Analysts predict that between 800,000 and two million European families will buy property in Spain over the next five years. There is no reason not to expect Southern Spain to remain the epicentre of the overseas home buying phenomenon as people realise the benefits of living in what has been described as the ‘California of Europe’.
Even the geography of the region conspires to aid the investor. Most buyers choose a property between the sea and the mountains. Even the Spanish can’t build on sheer rock face and in time, land suitable for development will become scarce. Strict new licensing laws also mean that developments will be restricted in certain areas. While demand is predicted to continue, supply is sure to decrease and we all understand that it’s a sellers market when supply is outstripped by demand.
Finally, the question that needs answering is; how can maximum profits be gained in an area that is no longer an ‘up and coming’ emerging market? The answer is simply by buying off-plan.
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