If you have always dreamt of owning a property somewhere along the sunny southern coast of Spain, your viewing trip is one of the most important elements of the property buying process.
Given that you have had sufficient time to tell us about your individual needs and requirements and thought about some of your preferred areas, the time is ripe to dedicate a few days to visit!
The Costa del Sol enjoys over 300 days of sunshine per year and is one of the most popular tourist destinations in the world. For this reason, there are some definite seasonal and market factors to bare in mind when planning your viewing trip with Domus Venari. Here are 5 reasons why now is the best time to plan your Viewing Trip to the Costa del Sol:
May and June in Andalucía are typically very dry and sunny and therefore very pleasant months to spend time on the Costa del Sol. Temperatures can easily reach up to 38 degrees in July and August, but daytime temperatures typically reach a maximum of 27 degrees and fall to 17 degrees at night in May and June. While temperatures along the Costa del Sol can be warmer than other parts of the region, a cooling breeze that swirls in from the Mediterranean keeps the temperatures mild, ideal for property viewing during the day and relaxing evenings.
Pre-peak tourism season
According to a recent report, Spain is the third-most visited country and has the most competitive tourism industry in the world. Spain receives over 60.6 million annual arrivals from all over the globe, driven among other things by its weather, culture and unique laid-back lifestyle. Peak tourism season on the Costa del Sol is during July and August where the dramatic influx in the population can make traffic and parking very time-consuming. During Spring and the pre-summer months, while there is a noticeable increase in tourism activity along the coast, levels are still manageable and will not be a hindrance to your property viewing experience.
Prices are rising
House prices are on the rise as the economy and property industry in Spain continues to improve and draw international interest. The year-on-year increase in Spanish house prices is higher than in any other country in the eurozone and in the whole of the European Union. House prices are expected to rise by approximately 5% throughout the country this year, meaning the time to invest in Spanish property is now - while prices are still relatively low and while stock levels of high quality property lasts.
Sales transactions are soaring
Due to a strengthening economy, falling unemployment and improving spending power, domestic demand has been a strong driving force behind the growth in sales transactions across Spain, as well as a re-ignited interest from foreign investors. While property sales rose by 11.1% in 2015, a recent CBRE report forecasted that Spanish property sales will rise by a full 20% in 2016.
Spanish banks are lending again
Eight years after Spain’s property bubble burst and banks froze their credit allowance to property construction, recent industry trends are paving the way for a rosy new chapter for Spanish banks and home buyers seeking financial aid. Bloomberg recently reported that Spain’s banks are advancing more loans to homebuilders again and dramatically cutting their borrowing costs, in the wake of surging sales. Spanish banks are all rushing to gain a share in this new market while stocks still last - many of which are already predicting that demand will far outstrip supply.