NOW IS THE TIME TO BUY PROPERTY IN SPAIN

With property prices in some of Spain’s best resorts, villages, and beach locations at their lowest for six years, now is the time to buy property in Spain, argues a respected voice within the industry. Prices this low suggest a potential to rise significantly in years to come.

That is the message from Willem Buins, partner and Managing Director for reduced Spanish property specialists La Vida Estates. Prices for some of the properties on the Costa Del Sol sold by La Vida have been reduced to levels not seen since 2003.

“Over the years, the property market in Spain – especially the ‘investment’ market – has proved to be extremely cyclical, much more so than it is in the UK,” says Bruin. “Therefore it offers much greater and, in reality, more obvious rewards to those who take timely and thoughtful advantage of it.

“Although setbacks must occur, just as they do in any economy, I predict that the overall market in Spain and in its coastal provinces will recover in due course and go on to deliver healthy investment returns.”

Bruin is looking beyond the current problems of the credit crunch and falling confidence, and bases his arguments on powerful underlying trends such as lifestyle and demographic changes that are set to drive demand in the long-term. But even in the short-term, Bruin sees hopeful signs in the form of government efforts to get the market going again. “Government moves to stimulate lending are welcome news for buyers,” says Willem.