Why Spain?

There have been exceptional results over the last few years with economic growth looking favourable for the next 4-5 years. Spain has the fastest growing economy in the EU and has outpaced the EU average every year since 1995. The Spanish economy grew by 2.5 - 3% in the last 5 years, compared to the average of 0.8% in the rest of the EU area. Spanish Capital Appreciation has averaged 15% per annum on existing properties consistently for the last 10 years. It can range between 15-50% per annum on new builds. Superb weather in Spain Spain is the A1 spot of Europe, the most popular European holiday destination, now even beating France in the number of annual holiday makers. Spain hosts a multicultural society that attracts all nationalities including British, Germans, French, Scandinavians and Russians. The micro climate along the South Eastern Coast ie the Costa Blanca down to the Costa del Sol, guarantees on average over 320 days of sunshine per year. This area has been quoted by The World Health Organisation to be one of the healthiest places to live in the world. There is a strong demand for short-term rental accommodation Over 42 million people a year visit Spain, approximately the size of the population of Spain. Spain is a ‘service’ country as it has been through out its history and therefore it knows how to accommodate visitors. From stunning homes and beaches, to efficient autoroutes and airports, from outdoor activities to a whole selection of restaurants and nightclubs… it has it all. Apart from the usual holiday-makers, there is also an all-year round demand for accommodation from golfers. Golf is a huge industry in Spain. Over 5 million golfers visit each year, increasing by at least 500,000 each year since 2000. (www.andalucia.com). In Costa Blanca for example, there are 22 golf courses already and this will increase to 90 18 hole golf courses within the next 7 years…. Low cost airlines Flights to Alicante, Valencia, Murcia, Almeria and Malaga can be as cheap as £29! There is a new international airport to be completed by 2007 in the Murcia/Almeria region, which is expected to attract another 5/6 million visitors per annum after the first six months. Low property prices and low cost of living Despite increasing prices in some holiday destinations (eg Marbella) the prices for property in Spain are still relatively cheap in comparison to places like the south of France. Taxes paid on Spanish property compare favourably with other areas of the EU. The cost of running homes is also very low; eg. a client has found one month’s worth of Council Tax in the UK will pay for a whole year of equivalent taxes in Spain. Food and wine is famously cheap. 1 Million Europeans are expected to retire to Spain because of the lifestyle being so attractive. As long as you prove you can support yourself, anyone can live in Spain. Over half a million British people live there permanently already and this is on the increase. Figures released on 4th Nov 2004 by the Office for National Statistics showed that last year 190,000 Brits moved overseas, Spain being the most popular destination (also backed by research made by Halifax, UK’s leading lender). In the past 12 months 75,000 homes were snapped up at an average cost of £160,000. The number of Brits buying property in Spain in the past 5 years has risen by a staggering 460%. Over 35% of all Spanish mortgages arranged in Spain are for non-Spaniards. All the developments that we handle in Spain come with fully re-assignable contracts, which is ideal for short term investors who may wish to sell before completion. Despite global and economic disasters, Spain remains ever growing with massive private and EU investment into roads, airports, infrastructure, marinas, promenades, sport complexes etc. Spain now also boasts an excellent communication network system. It’s track record is excellent, stable and strong and the Market Is Booming! “Make hay while the sun shines!”