Thursday, 14 June 2012

Spain – The Sun still Shines

Someone in the UK said to me ‘Not sure I’m going to Spain this year, due to the Economic mess’

The beaches are clean, the Mediterranean is still blue, the food is cheaper than last year, lots of cheap flights, great deals on hotels and apartments but forget all that the headlines are bad!

Spain is still a great place for holidays, working, living and retirement!

We bought our first house in Spain on 7th June 2002; it was memorable for another reason. It was the World Cup in Japan and South Korea, England played Argentina and won 1 – 0 thanks to a penalty by David Beckham.

We forgot to have our 10 year party!

I thought I’d write down a few reasons why we bought and let you, the reader, decide whether some, all or none of the factors still apply. This is random in no particular order;

  • The climate is great and the sun shines all year round
  • It’s two and half hours from home
  • The flights are cheap if your dates are flexible
  • We love the lifestyle, street markets, restaurants, entertainment, the beach and I could go on
  • House prices are cheap compared with the UK
  • A second home is for the long term, especially retirement
  • The exchange rate is favourable
  • We needed and easily got a 50% mortgage
  • We found someone reliable to look after the place when we are not there, giving peace of mind
  • The family think it’s a great idea

I could go on but I think those 10 reasons cover most of why we bought in Spain.

The fundamentals haven’t changed, there are bargains to be bought BUT without question the biggest factor affecting the property market is a LACK OF CONFIDENCE.

So here are three ideas

  • Rent before you buy in Spain

  • Always get Professional Advice

  • You can get better rates for foreign exchange

Viva Espana

David Goodall
Financial Pages in Spain