in Spain will require that a potential left wing minority in government
could form a coalition. That aside, the property market is non-buoyant
and transaction levels are faltering along with a slight up-tick in unemployment.
I should also mention that Brexit could be influencing the Brithish buyer
in northern Spain.
element of our work is to provide property management services. Once
you have purchased your house in Spain, which is often used for vacation
purposes, then you have to consder who is going to look after it when
you are not there. In our experience things do happen - water leaks,
power cuts, damage by the elements to name but a few. Always consider
this potential extra cost if you are in the process of buying.
as Brexit draws nearer there is still activity in the residential market
across north Spain. I am often asked the question - "Should I carry
out a survey of a property because I'm told it's not the norm here?"
I'm a surveyor so it could be argued I'm bound to say yes, however if
you are prepared to buy a stone and timber built property without knowledge
of the stuctural integrity and the future maintenence liabilty, then
Good Luck !! You will probably need it.
spanish economy is steadily improving with lower unemployment figures
and GDP at well above 2% and this is also reflected in the property
market. The main influence in the property market in Spain is obviously
domestic but for many years the foreign buyer and particularly the British
buyer have been prevalent. This no longer the case however and the blame
tends to fall mainly on Brexit although the exchange rate has a large
part to play. In March the exchange rate has ticked up several points
but will probably remain volatile as Brexit negotiations continue.
prices in Spain are the on the rise for the first time since before
the financial crisis according to official figures. The Spanish economy
as part of the european union has been on a steady upwards path for
a couple of years and employment is coming down. This improvement in
the economic performance has translated to an increasing number of transactions
in the property market with some speculative purchasing aimed at the
rental market. The current figures show a rise of just over 4% in the
last quarter and in some cases more, for the north spanish property
majority of foreign buyers in northern Spain are seeking the older stone
built property in need of renovation. The planning process is an important
consideration when budgeting for the purchase costs and advice on the
process and permission costs should be sought in order to avoid any
agents are complaining about the long winter and the lack of movement
in the market. Transaction levels remain low for rural property and
subsequently prices remain stagnant. One point to note is that I have
noticed that many transactions are now proving more difficult to complete
as due dilligence is throwing up problems on property registration on
many rural properties - perhaps it is a sign of the times that the so
called good value properties that are attracting buyers, are in fact,
the properties with the most legal title issues.