Spain, the land of matadors, flamenco dancing
and Gaudi’s modern architectural lines, occupies 85% of the Iberian
Peninsula, and is Europe’s third largest nation. As the second most
mountainous country on the continent, flat land is limited and
housing is mostly concentrated on the coastal strip alongside the
Mediterranean. Without doubt, the attractions of this vast and
varied country are obvious: beautiful beaches, 320 days of sunshine
a year, delicious food and wine, the mountains of Andalucía, and
the magnificence of cities such as Madrid and Barcelona. Spain also
has one of the most fascinating cultures, with the bonus of an
easy-going and laid-back
lifestyle.
These are all good reasons to visit Spain and
the fantastic infrastructure, range of activities and enthralling
countryside mean it is eternally popular with tourists. In fact the
country is currently the second most popular tourist destination in
the world, welcoming 59.2 million tourists in 2007, (a 2.1%
increase on 2006) and expecting 60.7 million tourists in 2008.
Spain has continued to show healthy GDP growth
with figures exceeding 3% every year for the last decade,
(excluding 2002) and reaching 3.7% in 2007 – this is significantly
higher than the EU average of 2.9%. Government statistics would
lead us to believe that property prices are rising too, with prices
in Murcia allegedly growing 10.7% in 2007. However, specialists in
the market counteract this claim suggesting that such declarations
are quite simply untrue. Destinations once popular with Brits are
decreasing in price at a more than rapid rate causing property
businesses to shut down and developers to halt construction. As a
result, unemployment rates in the construction sector are
escalating with an increase of 8.62% seen in just 12 months between
January 07 to January 08. The future of this market then, is
somewhat in limbo and if nothing else, has got industry experts
worldwide speculating as to its sustainability.
Still in this Chapter
Is this is good place to Buy?
Which type of Property should you go for?
Hotspots
The Purchase Process
Mortgages
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