Buying a property at the Costa’s

Spain is a land of great lyrical beauty and historical significance. Spain enjoys an all year round warm climate. Its stunning beaches and magnificent mountains attract a lot of tourists. On account of all this, many property buyers choose Spain to buy their second homes or investment properties. At present, the Spanish property market is booming with a lot of foreign investment. Many non-residents choose to buy property in Spain, especially, at the Costa regions of Spain.

Spanish property is one of the favourite investment markets for investors who wish to invest on property abroad. There are several factors which allure investors to buy property in Spain. Some of them include easy availability of Spanish mortgage, world class golf courses, high return on investment, excellent infrastructure, diverse cultural environment and political stability.

Spanish property is attractive to buyers for other reasons also. It is simple and easy to buy property in Spain. Once you decide to buy property in Spain, you have a wide choice of properties to choose from, depending on your needs. Popular Spanish properties: include studio apartments, villas, off-plan Spanish property, resale property, buy-to-let property each having its unique advantage.

Like with any other country’s coastal properties, Spanish property along the coast is obviously in high demand. Costa del Sol, Costa Blanca, Costa de la Luz, Costa Almeria, Costa Calida and Costa Tropical are some of the hot spots in Spain where you can find skilfully designed properties. These coastal properties have huge demand from tourists because of the warm climate, diverse culture and long inviting beaches in the region. Investment property in Spain is of great value if it is present along the country’s fascinating coastline.

The market prices of these properties remain favourable in coastal areas in spite of its warm climate and high demand from tourists. Spanish Property along the coast ranges from cheap studio apartments to million pounds luxury coastal villas. Different coastal areas of Spain have different specialities for people. The Properties found in coastal areas differ from inland properties. One can choose coastal property according to his need.

Investment on property in Spain can be made on both Resale and Off-plan Spanish property. Many investors who wish to buy property abroad wish to invest on off-plan Spanish property due to the following reasons:

• Early purchases offer good price
• Good return on investment
• Market price increases as property develops
• Regular source of income as rent

Spanish Mortgage is available for both resident and non residents. It is important to prove your credentials to claim mortgages like the following: last 3 moths pay slip if self employed; last 6 months bank statements; copy of your passport; tax declaration document, etc. However, the documents required may vary from a resident to non-resident. Most importantly, in order to make investment on property in Spain, one requires an ID called NIE (Numero de Identificación para Extranjeros). The maximum amount that can be claimed by a non resident is 80% of the property value. However, for a resident it is 100% of the property value. It takes an average of 2-6 weeks time to arrange for the mortgage.

Spain is an enchanting place for the tourists. Its Coastal properties attract lot of foreign investment from non residents. In a nutshell, it is a wonderful place to buy property abroad.