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Is It Safe to Buy Property in Spain Yet?

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Is It Safe to Buy Property in Spain Yet? - Safe - Buy - Property - Spain - Britons

We’re very well aware that Spain remains one of the most attractive overseas destinations for Britons of all ages thinking about going to live abroad.

The facts of the matter are, Spain is accessible from the UK easily and cheaply, Spain is warm, sunny and enticing, the cost of living is comparable with the UK whilst the quality of life is widely regarded as superior in Spain - and it’s a very easy nation to move to, set up home in, retire to or even get a job in.

Therefore, it is of no surprise that we have received a few requests for information about the current state of the Spanish property market from Britons interested in moving to live abroad in a sunnier destination than the UK – the enquiries have been along the lines of: ‘is it safe to buy property in Spain yet?’

The problem that many Britons are facing is that the high value of the euro in relation to the pound has eroded the benefits that they could otherwise have gained from the falling Spanish property market you see.  What’s more, others are worried about how safe an investment made into Spanish bricks and mortar is, bearing in mind how spectacularly the market in Spain has crashed recently.  So, naturally enough, it is important for anyone thinking about making a move to Spain to understand the state of the market right now.  Which is where we come in!  Here’s the latest overview of Spain’s property prospects in our humble opinion.

The strength of the euro against the pound is damaging on a deep economic level – and more pertinently perhaps, it is deeply damaging on a personal level for any one of us who has wanted to holiday in Europe this year or who has thought about moving to live in Europe this year.  Everything costs more in very real terms!  It costs more to fly to Europe, to rent a place in Europe, to buy food, pay for goods and services – and it’s really not fair!  Why?  Because we in the UK are in a recession and we need things to cost less – what’s more, there has been a crash in property markets in Europe and many of us would love to take advantage of that fact!  The trouble is, the crash that is very real in relative terms locally to the given market, has not been fruitful for us Britons who would be forced to buy with our weak pounds.



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Disclaimer: The information presented and opinions expressed herein are those of the authors and do not necessarily represent the views of Estates Report and/or its partners.