Changing face of buyers of properties in Spain

The type of person buying a home in Spain has changed dramatically in the course of the last five years says Craig Stocks of Eden Villas.

“The people buying now are younger and more investment focussed than they were”, says Craig, “buyers are more independent, know what they are looking for and are more worldly.

With investments and pension provisions falling short of expectations the result has been more long term investment from clients rather than life style changes. This of course is why the age group of buyers on our books has changed so dramatically.

Five years ago it was early retirees in their 50’s and 60’s, and although this is still a strong market, it has been added to substantially by those looking for long term commitment with capital growth and regular income. This has also resulted in ‘multiple buyers’, who recognise that Spain is a safe long term investment opportunity rather than speculating on new, emerging Eastern block countries”.

Property price increases in Spain have continued apace and though different Costas, show different levels, most are around 20% pa, which is substantially more than homes in the UK.

Continued Craig, ”Despite scare stories about land grab in Valencia and Marbella, there is still a very active market in Spain, after all it has much to offer from the weather, including the lovely mild winters, to a good infrastructure and English speaking locals who also have a joie de vivre which suits the British temperament.

My advice to would be buyers is to seek a reputable agency, based in the UK, preferably one who is a member of a regulated body such as the Federation of Overseas Property Developers Agents and Consultants (FOPDAC) to give them peace of mind.”

Currently available through Eden Villas are some great investment opportunities, including properties very well located in the Costa Almeria that will provide good rental potential and long-term sustainable capital growth. Top recommendations are the Calas del Pinar development in San Juan de Los Terreros, with 2 or 3 bedroom townhouses from around €200,000, or the very prestigious Golf Palace apartments in Mojacar, from €350,000. Both of these are within easy walking distance of the beach and golf.

For further information, visit edenvillas.co.uk.