Well it’s from a property site (so a VI) but the following article claims more property buyers are now looking at Spain, perhaps in search of a bargain
Richard Way, editor at the firm, told the website that budget is a key consideration for those thinking of entering a real estate market abroad.
He added that countries like Spain are doing well because they are relatively easy to reach from the UK and the journey is usually inexpensive.
Earlier this month, journalist and author Anna Nicholas stressed the importance of visiting the country several times before committing to a property purchase.
She explained it is important to get an idea of what the area you are considering buying in is like at different times of the year, to ensure it will meet your needs in both summer and winter.
I know most here like to be negative, but I can see the appeal for someone in their 50s/60s who’s thinking of a retirement place. Especially if they’re going to be made redundant back in the UK. Sell their Hackney 2 bedroom house for 350k (I’m not making that up!), buy a place in Murcia or Almeria for 120k and enjoy the sun. Of course the reality isn’t always like that, especially if you don’t speak the language or choose the location carefully. It’s also dangerous knowing what to do with your remaining savings – if you’d kept your money in sterling, it would have crashed from 1.60 Euros to 1.17 currently. Plus interest rates have been quite low. Who can definitely predict currency rates for the future? My guess is that Spain may leave the Euro, we’ll see an initial gain in the pound exchange rate of between 10% and 20%, but this gain to be wiped out within 2 years. But that’s just a guess, and as likely to be as wrong as most other peoples’ guesses. An additional thing to consider is that local authorities may decide to tax property owners as an efficient way of generating revenue.