Demand for property in Spanish cities could be set to grow as an increasing number of investors look to take advantage of price drops in Costa de la Luz on Spain's Atlantic coast.
Nick Stuart, managing director of Spanish Hot Properties, portrayed the region as "the Caribbean of the Spanish property market" as it offers "a completely different lifestyle for property buyers, especially for those who want to get back to real Spain".
The lower prices available in the region is another reason that investors may consider purchasing real etsate on Costa De Luz is, particularly when compared to areas like the Costa del Sol. Boasting one of the best climates in the country, numerous beaches, historical monuments and a growing ex-pat community, it is the ideal destination for Brits to escape to. Indeed, a growing number of British, Russian and Scandinavian property buyers are beginning to show a real interest in Costa de la Luz property. Price reductions of up to 30 per cent proving too good to miss out on.
The region has now been enjoying an increased interest from international property investors due to its excellent growth potential and investment credentials as properties are available at much lower entry levels than the rest of Spain .
Marc Da Silva, Freelance property journalist and founder of Propertyjournalist.com explained that prices are not likely to increase in the nation over the next couple of years and they may drop further, which could enable investors to find a better bargain.
He commented: "In Spain, prices have been falling there at a rapid and alarming rate for quite some time. It is a wonderful opportunity to negotiate a cheap property deal."