Over the past decade, an increasing number of people are either planning to or already are moving to the Southern parts of Europe, after retiring. There are plenty of factors which are responsible for such a manipulation. The most important factors being: the affordability, the peaceful environment and the lovely climate in the region. The thought of resting in the surrounding of vineyards, strolling in the boulevard and driving on the beautiful and impeccable country roads wins over a person immensely. But, one needs to be watchful while buying a property in Spain, and ought to take a judicious decision, after taking into consideration a lot of major factors.
PROPERTY investment in Spain reached a record high last year, totalling â‚¬10.2 billion - a figure that has only ever been beaten in 2007 when home prices were at their most inflated and before the end of the housing boom.
This puts Spain second from top for investment in bricks and mortar in Europe, just behind Sweden.
Marketing consultancy firm CBRE says this historic sum was mostly made up of property purchases in the last three months of 2014, which came to nearly â‚¬3.4bn - a rise of 50% on the same period in 2013.
Property debt increased by â‚¬23bn year-on-year, totalling â‚¬978bn, because of banks becoming more willing to offer mortgages - new home finance deals soared by 47% in just 12 months, even though it is still only half the level seen in the greatest 'boom year' to date, 2007.