Does the prospect of living in sunny Spain appeal to you? Property ownership in sunny Spain continues to tempt domestic and foreign buyers alike, given the country’s attractive aspects – España offers 325 days of sun per year, picturesque coastal scenery and a laid-back lifestyle that many other nations can’t compete with.
Due to these enticing benefits and more, Spain’s property market is thriving –- but when is the best time to purchase a home here? This blog explains all you need to know, so continue reading to find out more from our Spanish mortgage specialists.
Understanding the Spanish real estate market
In the prime and more attractive destinations, such as Malaga, Marbella and Madrid, the Spanish property market continues to be strong. Appealing mortgage rates and strong demand have helped to create these advantageous market conditions –here’s a more in-depth scope of the current situation:
- The average mortgage has an interest rate of 2.97%.
- Interest from international buyers remains at historic highs, with foreign investors accounting for 20-40% of the market share.
- Potential buyers can expect high property prices due to house supply issues and fierce competition for properties.
When not to buy a home in Spain
Our experts have found that the summer months tend to be the least favourable times to buy property in Spain, although this can change depending on the state of the real estate market.
From April to August, you can expect most properties in busy tourist destinations like the Costa del Sol to be unavailable, and the Spanish property market to be scarce. Additionally, property prices rise as a result of high demand for holiday homes and rental properties, which are typically in low supply during the popular summer season.
However, you can spend it researching and getting a taste for your dream Spanish home. Domestic and foreign investors can visit the real estate agents in the area and potentially view some of the homes that catch their eye.
The best time of year for purchasing property in Spain
The autumn months are considered a good time to buy property in Spain. With the busy summer time over and the start of school to prepare for, the number of investors tends to reduce, lowering competition for homes in your favourite mainland or coastal areas.
What’s more, housing demand is low during the off-season compared to the tourist season, making it the ideal time to take the plunge and invest in Spanish property. Some sellers may even offer discounts or more attractive property prices if they want a quick transaction, making real estate purchases during autumn particularly appealing.
Tips to get the best deal anytime
Keep an eye on the property market conditions
While seasonal trends are fairly accurate and predictable, it’s still important to monitor the Spanish property market when considering property investment. Real estate marketing conditions may change, impacting house prices and interest rates.
Speak to a financial expert about the buying process
If you aren’t too familiar with the Spanish property market and want to ensure you’re getting the best deal, speaking to a seasoned financial expert is essential. Mortgage brokers such as ourselves are equipped with a comprehensive understanding of Spain’s economy, the local real estate market and the Spanish mortgage process, so you can relax knowing your investment is safe.
Interested in finding out more about Spanish mortgages?
Eager to speak to a team of mortgage specialists that offer the very best professional advice? At Fluent Finance Abroad, we’re here to simplify the process of securing a Spanish mortgage, guiding you through each step with tailored advice to suit your unique needs and circumstances so you can make informed, confident decisions.
If you’re looking to buy property in Spain, call us today on 34 952 853 647 or get in touch online using our handy message form. We’ll respond to your inquiry promptly so you don’t miss out on your dream home in the sun.
Tips to get the best deal anytime
Keep an eye on the property market conditions
While seasonal trends are fairly accurate and predictable, it’s still important to monitor the Spanish property market when considering property investment. Real estate marketing conditions may change, impacting house prices and interest rates.
Speak to a financial expert about the buying process
If you aren’t too familiar with the Spanish property market and want to ensure you’re getting the best deal, speaking to a seasoned financial expert is essential. Mortgage brokers such as ourselves are equipped with a comprehensive understanding of Spain’s economy, the local real estate market and the Spanish mortgage process, so you can relax knowing your investment is safe.
Interested in finding out more about Spanish mortgages?
Eager to speak to a team of mortgage specialists that offer the very best professional advice? We’re here to simplify the process of securing a Spanish mortgage, guiding you through each step with tailored advice to suit your unique needs and circumstances so you can make informed, confident decisions.
If you’re looking to buy property in Spain, call us today on +34 952 85 36 47 or get in touch online using our handy message form. We’ll respond to your inquiry promptly so you don’t miss out on your dream home in the sun.
