| Britons are continuing to look for property for sale in | | | | Moneynetinternational, a financial website, states a |
| Spain. The love affair with Spain started in the 1960's | | | | quarter of the applications it receives for international |
| with the onset of mass tourism, and properties for | | | | mortgages are for properties for sale in Spain. |
| sale were purchased mainly along the 'Costas.' In | | | | Barclays has said that ''around 40% of all new houses |
| recent years, for a variety of reasons, Britons are | | | | built on the Spanish Costas were bought by British |
| purchasing properties further inland. | | | | people''. |
| In the late 1990s, several factors made it even more | | | | The Spanish property market slowed down in 2007 |
| appealing to own property in holiday 'destination | | | | and it has become a 'buyers' market. So property |
| countries', such as Spain: the sustained strength of | | | | developers have reduced their prices, increased the |
| the pound has been a dominant factor, and | | | | specifications of properties, added incentives such as |
| consequently the prospect of borrowing money to | | | | furniture packs, and subsidised mortgages. Private |
| buy a holiday property in a Spanish resort had | | | | sellers were accepting offers 5 -10% below the |
| become much more enticing. In a survey of people | | | | asking price. |
| looking for property for sale in Spain, most people | | | | When buying a property in Spain, property buyers |
| stated the value of the pound was their major | | | | should consider that Spain has its own taxes, laws |
| influence for purchasing a property in Spain. Additional | | | | and buying procedures, different paperwork, estate |
| factors for buying property for sale in Spain is: many | | | | agents fees, mortgage restrictions and the practical |
| UK homeowners have seen their homes increase in | | | | process of buying a property are different in Spain |
| value, so they have released some of the equity to | | | | than in the UK. |
| buy rental properties and holiday homes in Spain; low | | | | Listed below are some useful Spanish words when |
| cost European flights and convenient flight | | | | buying a property in Spain: |
| connections; a warm climate; good healthcare | | | | Abogado " Spanish Lawyer. |
| system; the relaxed way of life; and last but not | | | | Arras " down payment, deposit. |
| least the lower cost of living. | | | | Escritura " deeds. |
| There are a number of different motives for buying | | | | Hipoteca " mortgage. |
| a property for sale in Spain, and they include: a | | | | Impuesto sobre Bienes Inmuebles " yearly property |
| second home for retirement; a financial investment; | | | | tax. |
| or because an individual has simply fallen in love with | | | | Piso " flat. |
| a region and can envisage taking most or all their | | | | Se vende " for sale. |
| holidays there every year. | | | | Although the property market has slowed down in |
| A UK survey of people buying property for sale in | | | | Spain, experts forecast that buyers who are |
| Spain found: the majority of respondents purchased | | | | prepared to hold their investment for at least 5 years |
| their Spanish property from a UK based estate | | | | will reap good returns as the market picks-up. Best |
| agent, the underlying reason for the purchase of | | | | buys for 2008 are likely to be in Costa Calida, Costa |
| Spanish property was as a holiday home. The major | | | | Azahar, and Costa Brava and the most popular place |
| source of information was from friends and family, | | | | is still Costa Blanca. Excellent bargains are likely in |
| and the main source of advice was from estate | | | | Costa del Sol, as the market recovers from illegal |
| agents. "Post family" and "empty nesters" were the | | | | building and building scams. |
| main purchasers of properties in Spain and most of | | | | Buying a property for sale in Spain is a big |
| the respondents who were satisfied with their | | | | undertaking, so ensure you get the right help and |
| purchase had sought advice and conducted an | | | | advice before you buy, and you'll join the many Brits |
| information search before they bought their Spanish | | | | who have successfully bought a property in Spain. |
| property. | | | | |