subject: Time To Buy Spanish Villas [print this page] Until 2008 the property market in Spain was booming. Thousands of people from all over the country, but especially the UK, flocked to the UK in search of their very own place in the sun. Day by day it seems the cost of villas in Spain seems to be on the rise. But, as the saying goes, all things have to end.
The recession brought a spectacular crash in the Spanish property market. Prices plunged at rates that few would have thought possible. However, there are signs now that the prices are beginning to stabilize. All of which means that if you're looking for villas in Spain, now may be the perfect time to buy.
According to various figures there are signs that the pressure is beginning to ease. In the first quarter of the year prices fell by 4.5 percent. That might not seem like a positive move, but considering the high falls of the past year or so, analysts believe that the market may just have turned the corner.
At the same time there are signs of a growing appetite among buyers in the lucrative UK market that we're about to see renewed enthusiasm for buying holiday property. This has sector has been more resilient than other areas of the property market as individuals of high net worth continue to investigate opportunities for overseas property. However there is a suggestion that interest might have been increased by the cold winter recently experienced across the UK.
The market has just experienced its biggest month for over a year. Compared with the same period 12 months ago mortgage applications rose by 48 percent. With demand returning and the market stabilizing, there is every reason to think that the Spanish market may be turning a corner. The conclusion appears clear. If you're looking for bargain villas in Spain, you should act now to avoid losing your chance forever.
However, a word of warning. The property market in general remains in a state of flux. With some experts still wary of the prospect of a double dip recession, nobody can state with absolute certainty which way they believe the market will go from here.
The Spanish property market has long had a reputation for significant volatility. However, with many more people showing interest in villas in Spain all the signs suggest the market is on an upward curve. If you're looking for a bargain the time to buy is now.
by: Dominic Donaldson
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