Spanish property rules OK

After a slowdown and a negative feedback with the rise of the Spanish real estate sector for a decade, there have been stories about the outcome of this event and there have also been headlines attached with it: “The end of the Spanish property boom” was the most read in media in Europe and all over the world of real estate sector.

But after a few days, the headline has changed from a dark and gloomy on into a headline with a ray of hope.

Tim Hodges, County Homesearch director, said Spain still remains one country which is very popular and a very lucrative investment opportunity, despite the expected market problems that they have had. “This clearly states that the evidence of the quality housing stock must be reviewed and that something must be addressed with the issues concerning offplan investors which are suffocating the real estate markets.”

He also added that profit holiday rentals are still stable and that Spanish mortgage rates are still lower than that of the UK.

According to Martin Dell, a director at Kyero, a leading Spanish web portal, the Spanish government needs to take a stronger ounce of hold on the economy and that they should take away that power from the developers. He also added that Spain will still remain stronger after the economy has stabilized and that there is enough supply of houses and that house prices are still in demand again. “But until such time, buyers need to purchase properties on bargains. Sellers should also be flexible with the price,” he said.

Figures released back this up: According to the latest Kyero price index from last month, there have been an increase in value of 11 percent in Costa del Sol properties and that properties from Costa Blanca followed suit: with an increase of 8 percent. Valencia came in third with an increase in 6 percent.

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Spanish property rules OK

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