Do you love Spain and are you thinking of buying a second home there?
Perhaps now is the time to invest in Spanish real estate. High house prices in Belgium Today it is not very attractive to buy real estate in Belgium because real estate prices have risen sharply lately. The reason for this is that many can buy a home due to the low interest rate. This caused prices to go up. Since the savings accounts do not yield much and investing on the stock market is rather uncertain, investing in real estate remains an excellent investment.You are then assured of a long-term return, unlike a savings account.
Second home in Spain: a good choice So why is it such a good idea to buy a property in Spain?
Because when you think of Spanish real estate, you might think of the crisis that raged there from 2007, when the Spanish ‘real estate bubble’ burst. As a result, many homes were not sold due to oversupply and mortgage debts piled up. As a result, stricter conditions were imposed on mortgages and loans. Illegal construction was also dealt with more harshly. As a result, house prices plunged sharply. In the meantime, prices have risen again, but the level before 2007 was far from being reached. In addition, wages have risen throughout Europe and house prices in the Netherlands and Belgium are swinging through the roof. Precisely for this reason, many Dutch and Belgians choose to buy a Spanish home.
Now is the time to buy Spanish real estate
After the crisis of 2007, Spanish real estate developers switched to a new way of working. They are now building projects in different phases instead of all homes at once. This offers them more security. During the corona pandemic, many also chose to put their activities on the back burner to avoid being left with vacant homes. Now that the travel restrictions are gradually being lifted, demand is increasing again and many projects are quickly sold out. This leads to a scarcity in the market with longer delivery times. As a result, house prices are rising, especially on the Costas.
Tourism is expected to pick up again soon. The number of homes sold has increased dramatically in recent years. In addition, there have been some shifts in the sector. Many people now prefer to go on holiday to their own second residence than to a busy hotel. Many also like that they can travel to Spain by car instead of flying. All of these factors are already leading to increased demand for real estate, which is likely to increase further. This will be accompanied by further price increases. That is why it is good not to wait any longer to invest in a property in Spain, whether it is to stay there yourself or to rent it out. Investing in real estate in Spain is currently an interesting, profitable choice.