Wednesday, January 14, 2009

Prospective buyers in Spain should take hard-nosed approach

For the overseas investors who are looking to buy property in Spain, top advice has been offered by the Spanish Property Owners Guild (SPOG).

According to SPOG, there are several aspects potential investors need to consider to purchase property in Spain. The organization has warned that people must ensure they take a "hard-nosed investment approach" and Staying level-headed is therefore of utmost avoid numerous pitfalls.

Meanwhile, the Guardian has reported that the number of British people moving to Spain has increased by 12 per cent, making them the country's fourth-largest immigrant community. Paul Bradley of the organisation commented: "Spain is one of the favourite escape routes for Brits as it is so near and has a great climate and wonderful people." Anyone thinking of taking advantage of the Problems in the Spanish economy and property market as house prices have fallen and bargains are available to overseas buyers should ensure they plan their move carefully.

According to What Investment, the upkeep and ongoing costs also need to be considered along with the the face value of the property. They will often need to budget up to an additional ten per cent for purchase costs other than the property's asking price.

In related news, gives prospective buyers advice on where to buy, recommending San Miguel de Salinas as a hotspot for golf, with developments to the north of the region around Denia and Javea also of interest.