This is the right time to buy a property in Spain
Spain has always attracted many foreign buyers, tempting with its warm weather, delicious cuisine, rich culture, sandy beaches and low housing prices. Furthermore, the low interest rates, rising prices and signs that the economy is strengthening are increasingly attracting property buyers to Spain. According to a new report conducted by Movehub Spain is, after the United Arab Emirates, the second-best country for first-time buyers, and The Local argue that now is a great time to buy a property in Spain.
The Spanish real estate is on the uprise after the bottom fell out of the property market at the start of the global financial crisis, and in the first eleven months in 2016 sales rose with 14.5 percent.
The crisis improved the professionalism and quality of new developments, and compared to other European countries Spain is an increasingly steady choice with economic growth and safe streets. The property prices are still far lower than what they were before the crisis, but the prices are slowly increasing as the Spanish economy is improving.
The Euribor, which is the rate used to calculate most mortgage repayments in Spain, has remained below zero for the last 12 months. Paired with low interest rates and more mortgages being approved, all indicated that now is a great time to buy in Spain.
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