- Prices are increasing
Believe it or not, the property market is at it’s strongest when prices are increasing. In the costal del Sol, prices started creeping up at the end of 2014 and have shown a steady increase over this year. This trend is set to continue into 2016. Instead of the “lets wait and see” attitude seen over previous years, the general attitude is now, ” we’d better buy it before someone else does or the price goes up” The increase in prices has also seen more properties coming to market as sellers can now achieve more realistic prices for their property.
2. Banks are lending again
With the improving economy, many banks are now offering good mortgage deals and are now slightly more flexible with their lending criteria. Obviously, they are not throwing money at everybody but whereas before it was a flat “No” unless you had a very hefty deposit, now banks are listening to clients requirements and are, as long as the sums add up, lending to a wider expanse of clients.
- The strong pound
Over the past 18 months the pound has strengthened against the euro and we have seen the highest rate for 9 years. This has brought the British buyer back in force. You can now buy a property that is more expensive than it was last year but it actually costs you less in Sterling.
- The stronger job market
As well as foreign buyers, we have seen a steady increase in the amount of Spanish clients buying property, especially first time buyers. Better job prospects and confidence in the economy is encouraging young Spaniards to take the plunge.
- Spain’s popularity.
No doubt about it, Spain is as popular as ever. With it’s fantastic climate, wonderful culture and fiestas, and generally some of teh happiest people in Europe it’s no wonder everyone else wants a piece of it.