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21-August-2008
Award-winning Property Investment Ticks All the Boxes
Overseas property investment specialist, Obelisk, has a passion for excellence and the company’s determination to offer superior standards and high professionalism at all stages of property investment has reaped its rewards.
Interview with James Gonzalez
Spain: Investment Potential 2008
Property investors in Spain enjoy the security of a mature and relatively transparent property market. A comprehensive legal framework underpins both the purchase process and the rules of property ownership, making the Spanish market highly attractive to overseas property investors. An estimated 1.5 million investors are expected to purchase property in Spain over the next five years.
Spain Still a Popular Choice
The Spanish property market has seen sustained growth since 1993 and although currently there is slower growth, the market still offers potential for continuing returns. Knight Frank reports that, although demand for properties in Spain is not as high as in previous years, it is still a popular choice for those looking for a second home and that the country is still a firm favourite for holidays, offering plenty of buy-to-let opportunities.
Positive Tourism Figures
Property investors in Spain will be interested in figures from the Spanish Tourist Authority which confirm Knight Frank's report and show that Spain's tourism figures were up in 2007. Spain was the chosen destination for more than 16 million British tourists and total foreign tourist figures were up by 8.6% on 2006. This is good news for property investors looking at the buy-to-let market. With an enormous range of low-cost airlines delivering holidaymakers from the UK and Europe to the main Spanish resorts, potential rental yields are good, offering between 3.5% and 5.5% in popular coastal destination, which in turn, bolsters healthy capital values.
Spain's Healthy Economy
Spain attracts both young families and growing numbers of pensioners looking for a new life in the sun. A report from the Institute of Public Policy Research (IPPR) suggests that 3.3 million pensioners could be moving overseas by 2050, three times the current number. A mature property market, a growing economy and tourism makes Spain a perennial favourite with the overseas property investor.
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