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The question of whether to buy property in Spain during the current economic climate is a question of whether you are convinced that the ‘experts’ are right or not. The newspapers are filled daily with stories of property market crashes, repossessions and all manner of other tragic events. It is true that the prices of property being advertised on posters in estate agents’ windows are somewhat less than they were at this time last year, but is this really any different to the situation in many other countries, particularly the UK. Many of the agents, when asked, are cautious in their outlook but do say that the properties they have on their books are still selling, which means that there are still active buyers coming through their doors. One thing which they freely admit to though, is that although their advertised properties are still selling, the buying public now has a much greater choice of what to buy as people who purchased off-plan at the top of the market hoping for a quick sale and quicker profit are now cutting their losses to ‘get rid’ of a property they probably couldn’t afford in the first place. This in turn leads us to the current situation where buyers can negotiate even better deals with the seller and snap up some real bargains. In an economy where the currency has devalued (as per the UK pound) in such a short period of time, there is huge pressure (and responsibility) on the government of that country to ensure that money earned is put back into circulation at home, i.e. the population spend their income on goods and services produced locally. It follows that negative press is just one of the tactics which is adopted to ‘put people off’ following their dreams and buying properties abroad in a country such as Spain that has a better climate, better lifestyle and lower cost of living. Latest statistics state that, when questioned, one in twenty people born in the UK would leave the country for a new life abroad if they could afford to do so, whilst over 200,000 people every year do find the funds they need and leave to live the dream. This startlingly high figure indicates that, if the right priced property could be found, a holiday home in Spain would be an escape from the cold, wet, high priced UK island for many of the population.

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Written by Mark Buckingham for Rentaccomspain.com. Rent or buy your perfect Spanish retreat direct from the owner.
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