Despite the current pandemic and the Brexit fallout, Spain is still the number one destination for buying property abroad in the UK. According to Engel & Völkers Spain has reported a total of 2,624 sales transactions worth just over €1,600 million In 2020, with a 2.6% increase in the average price of property sold rising to €611,071. They also highlighted an increase of 11.5% for its rental division completing 3,181 contracts with an average of €1,923 per annum – achieving a total of €73.4 million. (source: Property Investor Today)
And this January Taylor Wimpey have reported a demand for second homes in Spain was up by 40%. So despite the current climate the Spanish property market seems to be as buoyant as ever.
So below we list just some of the reasons why you should consider Spain as your next property investment
Property prices in Spain still remain a good deal lower than prices here in the UK, allowing many people to be able to afford a holiday or second home, or indeed relocate to the country or retire early out there. Spanish properties are becoming more popular as they provide an excellent investment as well as a holiday home. Whether you choose Spain as a holiday home destination or permanent destination, for a property investment there is no country better and British property buyers and investors do not seem put off by Brexit at all.
Spain is the envy of most of the world with it’s almost perfect climate with some areas witnessing over 320 days of sunshine. The country as a whole has three different climate zones which are characterised thus; Mediterranean climate, an intercontinental climate, a maritime climate, and around Murcia especially an almost African climate. As an example, Jávea on the Costa Blanca has, according to the World Health Organization one of the best climates in the world. Summers there are neither too hot nor are they too cold and the same could be said for the remainder of the seasons. Not only is the climate usually sunny and mild, but the low humidity ensures that even the hottest days are almost perfect for beach lovers and sightseers. People suffering from asthma and allergies will also find some relief in this healthy, near-perfect climate.
Cost of Living
The cost of living in Spain is quite different than the cost of living anywhere else. The country is more affordable than many of its western European counterparts, making it a very favourable destination for expats. According to Numbeo, the overall average cost of living in Spain is 18.2% cheaper than in the UK. One major area that contributes to this fact, is that rent on average is 33.19% lower in Spain than it is in Britain. Another example is when it comes to utilities, Spain is 63.48% cheaper than the UK.
Spain has a healthcare system that is second to none and one that is the envy of the rest of the world. Spain provides universal healthcare coverage, which makes it one of the best healthcare systems in the world today. Even expats living and working in Spain can enjoy complete health cover a result of their taxed wages. Even without healthcare coverage Spain is still very much affordable.
Food & Drink
Spain has a rich food culture with numerous flavoursome dishes particular to the country, such as tortilla, pisto, paella and turron but may Spaniards stick to a healthy Mediterranean diet which is proven to be one of the healthiest in the world! Dishes rich in nutritional foods such as vegetables, fruits, healthy fats, and fish are a mainstay of many a Spanish dinner table.