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Some interesting facts about Spain are that the foreign market has had a long-running love affair with Spain due to numerous factors, weather of course one of the highest, quality of life, experiencing living in a different culture with great traditions and fascinating history and for many years the low cost of living. As a Brit writing this, I must admit having enjoyed many years of cheap cost of living in Spain partly due to favourable rates on currency exchange and of course due to Spain being a cheap country to live in full stop.
There is no denying that due to numerous factors that times have changed in Spain, cost of living has gone up, currency exchange is not favourable any more and of course property has certainly not been selling at the rate which we were used to, the buying frenzy we experienced (and enjoyed) is no longer there. However, after a number of years with a decline in property sales, it is highly exciting to see that the number of enquiries are on the rise and that the love affair with Spain remains strong. Within Europe Spain enjoys and is blessed with a number of certainties that will not change, the weather and its rich history. We have done extensive research into various areas of Costa del Sol with regards to its history and even though we were aware of numerous facts, we were amazed to find out many other historical facts in locations such as Torremolinos, Benalmadena, San Pedro as well as some of the history behind places such as Antequera, Seville, Cordoba, Malaga and Granada.
In the 21st Century, Spain is a modern country with a great infrastructure, popular on a worldwide basis and envied by many, good national health care, regular flights to most parts of Europe as well as seeing a major re-development of Malaga Airport. An excellent network of roads have made many parts of Inland Andalucia very accessible as well as seeing traveling times being cut considerably, the new High Speed Train from Malaga to Madrid has revolutionized the way we spend our holidays, making Madrid a short and comfortable ride which could be done as a day trip from Malaga. Due to the number of ex-pats and a high demand, there have been numerous International Schools set up some of which have been established for decades. With all this in mind, it is hardly surprising that Spain receives more internet search engine hits than any other European country when it comes to property.
The property market in Spain is changing and what we have seen in Q1 of 2010 is highly encouraging with many agents reporting an increase in enquiries and the amazing deals available tempting buyers back.
As from July 2010, property purchase tax is due to rise from 7% to 8%, this has caused many Spanish buyers to "take the plunge" into buying, the tax is applicable on the completion date and not the date in which the reservation deposit is taken, we can foresee many very busy notaries towards the end of June! Q2 should be interesting as traditionally it is a very busy time of the year with many people opting to buy and complete on their purchase prior to the holiday season in order to enjoy the benefits of their new property.
We are looking forward with high expectations to see what Q2 has to offer as well as Q3 and Q4.
We look forward with great anticipation to Q2 3 and 4 of 2010!
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