6 Overseas Property Benefits you need to know about
/There are lots of advantages to purchasing property overseas. Whilst widening your portfolio, allowing you to branch out and take your next investment opportunity into new land, the global property market is on the rise.
With our latest property investment development opportunity situated in sunny Spain, we thought we’d share our musings. Here’s six best benefits you need to know about…
Property prices are on the up…
Despite the Spanish economic crisis between 2007-2009, plus the recent COVD-19 pandemic, the property market in Spain is stable, with statistics showing an average increase in sale prices of 2.1% during the back end of 2020. Encouragingly property prices in Marbella have seen a consistent increase of upto 4% YoY and are anticipated to continue this trend with the continued infrastructure and investment into the region.
300 days of sun
Living up to its name, the Costa del Sol receives the most days of sunshine within a calendar year, averaging out at around 300 days, which equates to just shy of 10 months. Who doesn’t want pretty much-guaranteed sunshine most of the year round? Enabling your letting bookings to be made with confidence of a much-needed sunshine break.
Most visited European country
Did you know that Spain is the number one country in Europe where tourists spend the most nights abroad? Trips to Spain are favoured as one for a long break or holiday, meaning that you’ll have visitors looking to book your holiday let for potential weeks at a time.
Freehold property
You own the property outright. This means you are not tied into a lease. Although it might cost more initially, in the long-run you will be saving money down the line. If you wanted to sell the property eventually, it would be a much smoother and easier process, as any property with a lease means it is much harder to sell the closer you are to the lease expiry date.
More affordable cost of living
Spain’s popularity continues to grow as the go-to destination for Brits, making it the perfect location to investment in property. Alongside warmer temperatures and sandy beaches, the cost of living is a lot cheaper than it is in the UK. Your average meal for two equates to approximately £32 and public transport is extremely cheaper than UK prices. On average, you’re looking at around 18% lower per month that you would be expected to budge for in the UK.
Short travel time
We’ve already mentioned Spain’s ever-growning popularity for Brits abroad, so it’s no surprise that a wide range of UK based airports offer cheap flights to Spain. You’ve a pick of airlines to choose from too, giving you scope to travel when it suits you best. Also, with an average flight time of 2 hours and 30 mins, you can leave your home in the UK first-thing in the morning and be on a sun lounger in Spain in time for lunch.
Contact us today to find out how we can help create a personal and assured investment, tailored for you.
T: (+44) 0113 487 8981
E: info@holmeshaw.com
Holmeshaw, providing confidence in your investment since 2019
