Investment Property in Spain - Will investors start investing in Spanish property
22 Apr 2011
With the news that the Spanish Government will step up its attempts to attract more Brits to buy holiday and investment, with a road show tour next month but do the Spanish government miss the point entirely? Nick Stuart Managing Director of the Spanish property experts Spanish Hot Properties certainly thinks so.
The Government will kick-off with a press conference at the Spanish Embassy on May 4th to discuss benefits of Spain property reforms and opportunities for UK investors seeking to buy property in Spain. However a bit like the last offensive the Spanish government are not offering potential buyers anything new in terms of incentives according to Nick “If they really wanted to something really positive they would have a 3 month freeze on stamp duty but they can’t afford to lose the tax revenue but it’s a short sighed policy” claimed Nick.
The road show, which will start in London on the same day, will attempt to promote now as a being a good time to buy with bargain priced homes available nationwide, particularly in many of the holiday home destinations which are traditionally popular with Brits who still account for close to 50% of all international property purchases in Spain
The Spanish Government is desperate to reduce the existing glut of homes in Spain, with an estimated one million properties in desperate need of being sold and with yields on the up these could be of interest to investors looking to buy investment property in Spain
The Spanish property market is important to the country’s struggling economy, due its part reliance on the building industry but a new approach is needed if they want investors to start investing in Spanish property
The road show will later move on to France, Germany, Holland, Sweden and Russia and it will be interesting to see if this has any impact on the Spanish property market but the view form Spanish Hot Properties is very little
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