Spain has been the largest absorber of migrants in Europe for the last six years. An estimated 2.8 million people have arrived increasing the countries migrant population fourfold. A major contributor to this increase in numbers is the desires of many northern Europeans to retire on the Mediterranean coast. This has made the Spanish property an extremely good business opportunity and investment.
This had been the case since the turn of the millennium as the Spanish property market has experienced wild growth and a constant rise in prices. There were however fears last year that the property market in Spain was going to crash. After years of steady investment the worry was that this investment would dry up and the Spanish property industry would be left in turmoil.
Such fears have recently been allayed, house prices in Spain are to continue to rise, be it not at the rate expected earlier in the year. Director General of Spain's architecture and housing has given a 4percent rise instead of the 5.3percent rise expected in earlier official figures. This marks less of a crash for property prices in Spain and more of a levelling out effect on the market. Such trends have been seen across much of Europe this year.
A further half a million properties are to be completed in Spain during 2007, showing that the market is not in turmoil. It can be seen that sales figures for Spanish property are down this year but officials have been quick to quell any worries about the general health of the market. After a bubble that has lasted almost five years it was bound to slow down at some point, such growth is rarely sustainable in the long term.
If the property industry in Spain is in a slow down phase this should make it even more preferable for buyers. With property developers keener to sell their properties buyers have the option of holding out for better deals, surely keeping Spain's predominance as the retirement capital of Europe.
The popularity of Spain as a destination to buy retirement property, such as Spanish villas can be attributed to the increase in communications technology allowing people to stay close to their families despite being in a completely different country. With home ties becoming easier to break it is becoming ever more tempting for those of retirement age to sell up, leave the nasty weather behind and go and buy a Spanish villa.
In recent years another temptation factor has been added to entice increasing numbers of northern Europeans to buy property in Spain. A huge rise in the creation of quality golf courses within close proximity of many of the Spanish property developments has given another reason for those wishing to retire to go Spanish. There cannot be much better in life than having good golfing weather and quality courses almost all year round.
When buying property in Spain it is easy to get carried away with the glorious weather and for those inclined to a round, the fantastic golf courses at your disposal. Something that must be remembered is when buying property abroad a reputable company must always be used. Horror stories of crooked Spanish property scams are rife in the press but these should not put potential buyers off. As with much in life, if you use a trusted service the outcome will in the majority of cases be agreeable.
The property market in Spain has recently done well to allay the fears of its patrons. Worries over a down turn in sales and a slow down in property construction have rapidly been explained by official sources. Subsequently the market seems to be in good health and still growing, granted this growth is at a slower pace than before but outlooks are still positive. As long as northern Europeans are searching for a place in the sun to call home, the Spanish property market will remain healthy.
