Evaluating Real Estate Investment in Spain in 2024
HOME’S NEVER BEEN SO CLOSE
¿Is it a good year to invest?
Determining whether it is a good time to invest in Spain requires thorough evaluation, as is the case with any real estate investment. At this juncture, with careful planning and an effective strategy, 2024 could be a very opportune year for investing in the sector. To develop a quality strategy, it is important to consider the following aspects:
Aspects to consider
design a quality strategy
Demand Profile
The demand is strong, and the buyer profile is more solvent and responsible. This translates to an active market for properties in specific desirable locations. Currently, there is an increase in the purchase of second-hand homes.
design a quality strategy
Mortgage Market
Consider current trends in financing. Additionally, there is greater efficiency in the mortgage market due to its digitalization. It is crucial to discuss the capital gain, the increase in property value in which one has invested.
design a quality strategy
Price Dynamics
There are potential opportunities in certain market segments such as residential tourism, second homes, and leisure spaces, among others.
design a quality strategy
Legislation
Always stay well-informed of all updates to see how they might affect investments. New policies such as the increase in interest rates, the extension of amortization periods, the increase of maximum amortization periods to 40 years by the government making mortgages more affordable, and interest rate subsidies, a new government measure offering a 1% interest rate bonus during the first five years of the mortgage, are key factors.
The Spanish real estate market has been evolving favorably for years. Specifically, the Costa Blanca is one of the areas with the greatest historical evolution nationally, boosted in recent years by its touristic nature and other advantages.
It is very important to take into account the different variables that comprise the real estate sector: urban planning legislation, investments, expectations, and updates from banks related to the sector.
In conclusion, the real estate sector was strengthened in 2022 and continues to be robust, particularly in the residential domain, but also in housing in general.
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