You might think of Spain as a tourist destination with clear blue skies and bright sunny beaches. But to others, especially foreigners, Spanish waters have become synonymous with a favourable choice for a retirement destination. Expats are nothing new to Spain, and with the rising interest of foreign investors in Spanish property, it’s sure to be a hotspot for international retirees all around the globe. Contrary to previous trends, the Spanish housing market is seeing an evident rise not just in its attractive sights but also in its accommodating prices.
Housing prices after nearly a decade of disaster
Before the housing market crash of 2008, Spain used to have one of the highest housing prices in Europe, with some of its property gaining a steady increase, reaching 250%, of its original price a decade before. Spain faced a historic financial crisis which led to its housing property market taking a massive blow in 2008. Because of this, Spanish properties lost nearly a third of their price with different regions facing similar or more significant losses in prices.
Property prices continued to drop until just recently, back in 2016. Growing interest in Spanish property is a testament to Spain’s resiliency as the government itself is making favourable incentives for foreign investors to buy properties.
A haven for foreigners
The Spanish government has made a monumental step in moving towards a foreign investor economy by providing perks and incentives for investors to buy and even stay in their country. There are currently no restrictions when it comes to foreigners buying land in Spain. If it’s more of a business route instead of a retirement route that you’re taking a liking to, you can own an investor’s visa; provided to foreigners who own Spanish property. They are advised to purchase at least 500,000 euros worth of property to be eligible to apply for a residency visa. With housing prices going so low, you wouldn’t believe how much you’ll be able to own with just that much.
Taking the move abroad
With the government’s incentives to foreign property owners and the growing interest in Spanish property, you’d be advised to consider your options now while prices are still relatively low as they’re bound to increase exponentially in the coming years. With living costs continuously on the move, you might have a better time spending your retirement years abroad.
It might take a great deal of effort and time to manage the process of moving. Thankfully enough, there are some services that can help you handle the move easier. Finding an international removals company can help in the moving process if you’re not to keen on leaving your furniture and valuables behind. Check out www.movecorp.com as they offer moving services for international destinations that include, you guessed it, Spain, to help movers deal with making Spain their new home.