The Spanish real estate market is recovering from the pandemic and adapting to the new conditions. In 2021, foreign investors began to return, stimulating the market. The source http://spain-real.estate/ will tell you about five basic tips that will be useful to anyone who wants to invest in the residential sector of Spain for the first time. You can also get great golf holidays in Spain.
Why is now a good time to invest?
The current situation in the Spanish real estate market is as follows:
- House purchase costs have continued to rise;
- Rental rates are falling mainly in large cities. For example, in Madrid, Barcelona, Valencia, and Seville, prices have decreased by 10%, and the Balearic and Canary Islands have experienced a decline in leases since the peak in 2019-2020.
Why is this happening? The reason is the decrease in tourist activity during the pandemic.
Despite this, prices are still rising in other regions of the country, a good example is La Rioja – 10.3% and Asturias – 8.4%.
What advice will novice investors need?
Define your investment path
When buying real estate in Barcelona for investment, the buyer has two options to earn – resale and rent.
Renting is ideal as a passive income. According to the Global Property Guide, in 2021, rental income ranged from 4.3% to 7.7% in Spain, depending on the area and type of property.
Resale is less financially risky if you resell your home at a higher price. However, before reselling a home, you should keep it for at least three to five years until the price rises.
Choose a home based on your goals
Depending on the investment objective, the type of real estate may differ. For example:
- For short-term rentals – one- or two-bedroom furnished apartments are suitable;
- For long-term or resale – two- or three-bedroom apartments in comfortable areas with advanced infrastructure.
Give priority to large cities
The following locations are best suited for resale:
- Tenerife Islands;
- Palma de Mallorca;
A comfortable area is a liquidity guarantor
Well-equipped areas with convenient infrastructure and transport accessibility are more attractive to potential buyers and tenants. They have a higher demand for rent and stable rates.
Do not neglect the state of the property
In the case of leases, the exterior of the apartment plays a major role in attracting tenants. Buying a ready-made apartment with a good repair will save you from problems and unnecessary expenses.
Buying a property in Spain
Start searching for a dream apartment in Spain today on Spain-Real.Estate. Experienced specialists will choose the best accommodation according to your goals and take care of the safe transaction.