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Without fail, amongst every client´s list of preliminary questions when they first make contact with us is this one:
“What´s happening in the Spanish property market at the moment?”
We wanted to put together a concise overview of our thoughts on the current state of the market, and highlight any areas for concern, together with details of how to take advantage of market conditions if you are thinking of buying in Spain.
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Now may be a good time to invest in Spanish property, but my advice would be to tread with caution, and to be well researched.
The market in Spain has taken a hammering in recent times, and although not every vendor is desperate to sell, some of them are. Remember that a large proportion of these properties were purchased as 2nd homes, meaning that they were bought as a luxury item. So as the economic climate for owners becomes more gloomy, disposable incomes begin to shrink and people face job losses and spiraling debt, it is these luxury purchases that are often the first to be cashed in.
