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Spain remains one
of the top choices for people looking to buy a second home abroad to retire in as
well as for vocational and/or letting purposes. Everybody knows that Spain is blessed
with thousands of kilometers of beautiful sunny coasts, which is an excellent
backdrop to the stable economy and an unbeatable quality of life.
Property prices in Spain are
beginning to settle after an incredible decade-long real estate boom where
prices rose at times by 30% yearly. Although prices are still rising
moderately, professionals expect an evening out throughout 2007 and an eventual
stabilization; there aren’t any signs or expectations, however, of a significant
downturn.
The Spanish property
market is still expected to maintain stability because Spain’s coasts
remain a strong draw to foreigners in search of sunny properties in Spain
for retirement or vacation purposes. Buying a home and letting when you’re not occupying
it remains an interesting way to mix enjoyment and profit.
Spain has also
recently been ranked as the preferred destination among Europeans who wish to
work in a foreign country, and its immigrant population is both a steady force
and a positive motivator for the economy. For these reasons and more, specialists
in Spanish property still believe the market provides appealing investment
opportunities.
Legislators in Spain have been
busy making it easier for foreigners to both buy Spanish real estate and to
live and work in Spain. Non-residents
in Spain will find
it easier to buy, let and resell their properties than ever before.
The Costa del Sol is one of
the strongest areas in Spain for foreign
property buyers, both retirees and vacationers alike (especially the British,
German and Dutch). This southern coast truly has much to offer for people of
all ages and preferences.
Some of the current hotspots in the Costa del
Sol are:
- Benalmádena: This
town’s population of 30,000 swells to an impressive 100,000 during the
summer. Advantages include its proximity to Málaga’s international airport
(20 km away) and its division into two parts (the new sprawling
developments along the coast and the old whitewashed village nestled among
the mountains).
- Marbella: A true
hotspot for the glamorous and glitzy, Marbella has
also begun to take on an appeal for the average property seeker.
- Nerja: With a
population of over 12,000, Nerja has moved beyond its days of a small
fishing village but still retains much of its charm. Over 16 km of beautiful
crystalline beaches, mysterious hidden coves and caves and an enchanting
town center make it a favorite in the Costa
del Sol. It also has the advantage of being located only
50 km east of Málaga.
- Almería: This
breathtaking Mediterranean hideaway has somehow remained relatively
untouched by the nonstop tourism and rampant construction that other areas
of Spain have
seen. Some of its strong points include over 300 days of sun per year,
fascinating nearby villages waiting to be discovered and stunningly
beautiful secluded beaches.
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