Strength In The Spanish Real Estate Marke

The second quarter of 2011 showed a 1.3 billion infusion of foreign cash

, up nearly 40% from a year ago. Much of this offshore real estate investment is being spent on the coasts, and primarily the Mediterranean coast, where buyers are looking to find holiday homes or rental properties in order to generate ongoing income.

Spain properties in coastal areas were not affected as sharply by the softening of the global real estate market as were properties in inland areas. People who want a second home in Spain often want it on the coast, preferably with an ocean view, and so demand for these properties has remained high, as have the prices. For example, a seaside villa in Mallorca can command upwards of 9 million(EUR).

Of course, there are many more reasonably priced properties available as well, but those who own property on the coasts can take advantage of this ongoing demand should they decide to sell their property in Spain.

A listing now, contrary to what the news says, likely means you will be able to command a good price, and sell your property in short order, as well. Some people are using this opportunity to sell one property and buy another, or buy several properties and create several income streams for themselves.

Additionally, well-informed buyers are keeping an eye on the currency exchange markets. When purchasing holiday property--whether paying cash or obtaining a mortgage--the difference in currencies can save one money or costs.

Even if obtaining a mortgage, there are always costs to be paid. Down payment, appraisal, property inspections, and more all carry costs, and those costs need to be converted from your home currency into Euros--for example, Pounds Sterling to Euros. As the difference between these two currencies widens or narrows, so does the amount of purchasing power you have.

As with any real estate transaction, it is critical that you find trustworthy experts to assist you with the process. At a very minimum, you will want bilingual experts unless you yourself are fluent in both languages; even then, a solicitor or real estate broker or buyers agent can keep an eye out for your interests and ensure that the property transaction is handled smoothly.

It is critical that you evaluate both your wants and needs when buying real estate in Spain. Consider how much money you have to spend, how much you can afford to borrow, if that will be part of the transaction, and where you would like to own property.

Whether the property will be put to personal use or used to generate income can also have an effect on how much can be loaned.

The property market in Spain appears to be rebounding, making now the perfect time to proceed with your investment decisions.

by: James P Martin

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