It is now time to buy a second home on the Costa Blanca! Your first thought is, that in a financial crisis, it is not fit to buy a second home in a sunny and warm foreign country. The opposite is true. The financial crisis provides, since housing prices over the last two years have undergone a major correction, good opportunities at relatively low prices.
Invest in Real Estate
Until the economic crisis it was for a private person, but also for investors very attractive to invest in real estate. This was partly due to the annual price increases of 10% and, on the other hand, due to rental possibilities. This was also due to the prices for plots, which had, since 1994 until the economic crisis doubled (in the popular tourist areas even more than doubled). Until the economic crisis, there were on average 100,000 homes per year sold to foreigners. Nationality wise, the British are the largest group of buyers, followed by Germans, Dutch, Scandinavians, Belgians and French. Now that the economic recovery is visible, especially in the northern part of Europe, and to all appearances also continues, the demand for holiday homes and investment homes increase.
Because many coastal resorts already are quite built up, it is expected that a shift of activities will take place to spaces to build, namely the interior and the provinces of Murcia and Almeria. Perhaps we can give you further advice on the possibilities of investing in real estate in Spain.