IS BUYING A HOME IN SPAIN A GOOD INVESTMENT?
We would all like to think we’d make money on our homes. They are after all, one of our biggest investments in life.
It doesn’t matter where you are in the world, no-one buys a property thinking they’re going to lose money!
So, is buying a property in Spain a good investment right now? The true answer to that is, yes!
If it’s a resale property, then the answer is definitely yes. If it’s a new build, the answer is maybe not right now.
When purchasing a new build, the construction companies have incor- porated into their asking prices, agents / promotors commission fees. This means that the properties themselves will be down valued by ap- proximately 15 - 20% on the day you have the keys to move in! You’ll have to wait quite some time for the market to regain the lost 20%.
However if you’re purchasing a resale property, those prices are being driven solely on market value. The less demand, the lower the price. The higher demand, the higher the price.
No-one knows when the best time to buy a property is, until it’s passed. But as we’re heading out of the pandemic, now is proving to be a great time to buy!
Before starting your property search, download our FREE Spanish Property Buying Guide for 2021! Head to: www.BuyMyHomeInSpain.com