Posted on 02 August 2017
If you want to escape the rises in stamp duty and higher taxes on profits for UK buy-to-let properties that are leaving British home buyers out of pocket, investing in bricks and mortar over in Spain makes perfect sense.
Recent data from the European Union reveals that property prices in Spain are rising at almost twice the rate as in the UK, and faster than most other European countries. So, with prices remaining affordable for the time being, but rising significantly this year, a good financial return is likely to complement the sunshine, beaches, relaxed lifestyle and comparatively low cost of living.
According to the latest residential property data issued by Eurostat – the European Union’s statistic office – the average price of Spanish properties rose by 2.3% in the first quarter of 2017, January, February and March. This figure becomes even more impressive when compared with the price rises across the rest of Europe: four times more than the EU average of 0.7%, and nearly double the 1.3% increase in the United Kingdom. Only the Czech Republic (2.9%), Latvia (2.8%) and Sweden (2.5%) recorded a higher increase.
Following the Spanish property price slump of up to 40% in the wake of the 2008 global financial crisis and the resulting construction crash, it appears the year-on-year price rises recorded in each of the last 10 months are sustainable. While prices in Spain are edging closer to UK levels, overall they are still much lower. Great news if you are looking for a bargain property with long-term investment potential.
When you’re ready to make the move, click here to download the Spain Buying Guide. It’s completely FREE and packed with great advice.