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Costa Calida Property

 

Property Sales in Murcia, Spain

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Who is buying in Spain?

TWO million Britons own property abroad, 500,000 own property in Spain. Over 150,000 Brits purchased second homes overseas in 2005. 100,000 are planning to move abroad in the next 6 months. Britons invested 12 billion in Spanish property in 2004/2005. This is predicted to reach 21 billion by 2009. 75,000 properties were purchased at an average price of 160,000 and one in three went to retire in Spain.

A well known Spanish portal has conducted a survey asking over 400 people why they were looking to purchase property in Spain, what they were looking to buy and where. According to the survey, the average person seeking a property in Spain is male, aged between 41 and 60 yrs old. The majority of people want to join the other 200,000 Britons and permanently relocate with 26% viewing Spain as the ideal retirement location due to the warmer climate, sociable atmosphere and reduced taxes. Even with a wider choice than ever of countries in which to purchase it seems that once people decide on Spain they rarely look elsewhere.

73% of respondents stated that they were seeking existing or resale properties with new build coming in second at only 32%. With regards property types, the most sought after are studio apartments with 2 or 3 bedroom villas coming in close second. Views of the ideal home tend to vary, however depending on the province, in Alicante for example, 3 bedroom apartments are most desirable, compared to 3 bedroom villas in Girona and 1 bedroom apartments with swimming pool in Gran Canaria. With regards to property prices, the majority of budgets range from 150,000 to 200,000 which may not be realistic for some as the Spanish property price guide reveals that the national average property price is currently 250,000.

The survey revealed that 97% of respondents viewed the location of a property as an important factor when considering a purchase. It seems that the draw of the sun, sea and sand is still too hard for most to resist with the provinces of Alicante, Granada and Malaga being the most highly sought after.

The most important factors when considering the location of a property purchase are accessibility to shops, a hospital, bar, restaurant, pharmacy, bank, post office, public transport, police station and airport. Nearby amenities including schools, golf courses, marinas, water sports, clubs/discos and churches are viewed as less important. When considering the wider area, then local climate, crime rate and size of population were noted as important factors, as well as accessibility to an airport, especially those served by budget airlines direct from the UK.

Most people who took part in the survey were within the first stages of property finding. The most popular concerns about buying were the price of the property, any additional costs involved, the legal aspect and getting the right location.

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