The second home market in Spain continues to go from strength to strength, with the affordability of Spanish properties coupled with demand from British buyers and other foreign nationals, driving the growth.
Murcia was found to be one of the most affordable regions to buy a holiday home, with the average property costing around &150,000.
The research also found that the busiest times for foreign buyers purchasing second homes are the first six months of the year, with demand generally reaching a crescendo around October before dropping away around Christmas.
The tourism market in Spain has continued to grow over the last few years, which is encouraging foreign buyers from the UK to purchase property and rent it to holidaymakers during the time they aren’t occupying it, making a profit whilst enjoying the many benefits of owning a holiday home.
As a result of the booming tourism market and the interest in the property market from outside the country, (as well as a stable economy and improved job outlooks in Spain), has led to the property market becoming more stable with little to no fluctuation in property values.
All these factors have led to higher confidence in the second home market, with Knight Frank reporting a 20.2% increase in mortgage lending at the beginning of 2017.
The increased demand for property and depleted supply is good news for sellers who are finding their properties are being purchased quickly and for a higher than average price.
