Is now the right time to buy your Bargain Spanish Villa? Yes, With Property SIPPS!
By far the most popular property for those looking to buy in Spain are typical Spanish Villas, 2 or 3 beds, pool and sea views. However, many people still arrive with unrealistic budgets to match their requirements and often have to compromise on area, plot size, or views. The average budget appears to be 250,000 euros, but judging by the enquiries we receive, purchasers are expecting to be able to pick up a bargain for approx 150,000 euros. Is this realistic? Well maybe.
There are 610,000 new homes unsold in Spain, with another 380,000 being completed and 520,000 second hand homes for sale and therefore the housing market in Spain may remain depressed in the short term while banks continue to sell off huge stocks of repossessed homes but property prices are starting to rise in some parts of Spain, according to a new report from one of the country’s largest savings banks.
There are two main factors influencing purchases: the location and how badly the seller wants to sell. There is a shortage of top quality properties in the best locations at the right price level for 2010. Currently the typical person looking for property is a cash buyer, purchasing for their own use, with a medium to long-term perspective, not dependant on rental income and only interested in buying in prime locations and this is where you can pick up a Bargain.
If you are coming to Spain to find your Bargain Spanish Villa, It pays to do plenty of research before coming to so that by the time you arrive you are amply prepared to view properties that are within your price range. This saves your time and avoids disappointment. Building a kinship with a local agent before you come will help you get an idea of what you can get in different areas. Browsing the internet is also helpful, although some website may have out of date prices and out of date stock.
Purchasing property SIPPs is a new phenomenon, but it’s catching up really fast. This is a self invested pension plan, allowing you to buy property abroad that meets certain criteria but is a tax efficient method of buying your dream property!
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