5 Tips for Spanish Property Buyers
Summary: Despite the forecasts, now is a great time to buy says expat author of 2 books on Murcia - Debbie Jenkins. She shares tips on buying in Spain in today's market.
With many pundits glibly forecasting the whole of the Spanish property market going pear-shaped and a media-led slowdown taking grip, now is a great time to buy says expat author of 2 books on Murcia - Debbie Jenkins.
Debbie, author of "Going Native in Murcia" and the newly released "Buying Property in Murcia" says, 'Despite what many headlines would lead you to believe there are still good deals to be found for overseas buyers in Spain and I firmly believe many of the opportunities available in Murcia right now are ripe for the taking.'
Debbie's 5 Tips for Spanish Property Buyers:
1. Do Your Homework
Ignore the sensational headlines and TV scare stories designed to boost ratings. Most of these only show half of the picture anyway. Take responsibility for finding out the facts firsthand and you'll be surprised to see plenty of good investments and solid long term buys at low prices. The best thing you can do is arrange your own viewing trip. But first be sure to consult balanced guidebooks, fact-based reports and websites to hone in on your desired area.
2. Take Your Time
There is a lot of property out there at the moment and in the short term growth isn't going to be as rapid as we've seen over the last decade. That means you can afford to take your time and brush off any pressure agents or vendors may try to put you under.
3. Always Offer Less
Some of the larger resorts and urbanisations have a serious oversupply of property in relation to the number of buyers right now. This means you are in a strong buying position and you should expect them to lower their prices. That said it's probably safer to avoid some new-build projects altogether - which takes me back to tip 1 - do your homework!
4. Buy Where Property Will Remain Scarce
Traditional townhouses in historic old towns and fincas near pretty villages will always be in limited supply. So seriously consider these as viable, more affordable and unique investments to the traditional identikit villa on a golf course with a pool.
5. Decide Why You're Buying
If you want fast capital gains as have been seen in the recent past then Spain isn't really the best bet right now as there are better deals to be had in less mature emerging markets such as Poland, Romania and Bulgaria. However, if you want to buy to live or as a long term/retirement investment then buying in a stable, mature country with predictable long term growth, lovely people and a solid infrastructure is a good idea.
Debbie, who lives and now owns 3 homes in the Murcia region of Spain saw a real need for savvy, accurate and local information on the various parts of the Murcia region from a property buyer's perspective. Her book details all the main towns and cities, provides detailed step-by-step instruction on the buying process and ranks each location based on supply, demand, rental prospects, price and infrastructure.
Debbie's publishing company plans to release a further 6 "Buying Property in" titles for Spain over the next 12 months and she is looking for case studies from other expats, investors and retirees who have bought a home in Spain. If you have a story or would like to join her team of authors then visit http://www.nativespain.com.
About the Author
Additional Information:
- Spain Guide
- Healthcare & Health Insurance in Spain
- Members Talk about Healthcare & Health Insurance in Spain
- Best Places to Live in Spain
- Real Estate in Spain
- Guide to Real Estate in Spain
- Pros & Cons of Living in Spain
- Cost of Living in Spain
- 10 Tips for Living in Spain
- Pros and Cons of Living in Spain
- 10 Best Places to Live in Spain
- 7 Things to Know Before Moving to Spain
- 2024 Guide to Living in Spain
- Pros and Cons of Living in Spain 2024
- 2024 Guide to Moving to Spain