Foreign investors and buy the latest bargains from the coast


Price increases of the holiday homes are spread almost twice municipalities last year. This was noted in the Housing Tinsa report in 2016 Costa, document pointing to the Costa del Sol, Balearic and Canary Islands as markets where prices increase more. And who are they buying?
The housing of the coast has a clear buyer profile. According to Jesus Duque, vice president of Alfa Real Estate Network, 50% of buyers of coast are small domestic investors. Followed by the foreign buyer, with 35% of the cast and, finally, there is a 15% national individuals.
That is, the main buyer of coastal property is not the foreign buyer. According to the analysis of Duque, nearly 50% of homes sold in Spain coast in the last year have been small domestic investors. Many of them have bought one, two and three properties in a short time, some worth 30,000 or 40,000 euros. The purpose was twofold. On the one hand, achieve profitability through their rent; on the other, through the revaluation of the property itself. "Many homes a year ago cost about 35,000 euros today not lower than 50,000," says the head of Alfa.
Real estate analysis indicates that the foreign buyer perceives in current prices a great opportunity to buy a home to enjoy the good climate of Spain. For many it is an investment in second homes, while others decide to move their residence to our country and even take the opportunity to rent it in the summer months, as they travel to their places of origin.
Finally, there is the Spanish who buys a house or apartment on the coast as saving formula. This is Spanish individuals who, given the difficulty of access to housing prices in major Spanish cities, have taken advantage of the great discounts and huge supply of product to opt for a more economical and enjoyable life.
Duke says, "it is in many cases of marriages of retirees, or couples who begin a life together, and who choose to start a new life project in more affordable areas. In other cases, they are simply individuals who, once the worst of the crisis, decide to indulge in buying a home on the beach, taking advantage of prices still 35% below those before the crisis. "
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