Many apartments and houses are empty on Costa Del Sol . To stimulate home purchases, the Spanish government has decided to reduce VAT on newly built properties properties from eight percent to four percent. This reduction will apply until the end of the year.
This is another good sign that the time has come to invest in a property on costa del sol . This does not mean that new development necessarily has the best investment value, despite the reduced VAT. There are many factors that should be weighed in the assessment.
Some argue that this could lead to further price reductions (albeit marginal), while others argue that there has been an uptick in sales after all, and that a “ketchup effect” could very well be at the door. In any case, there is a bargaining chip among some impatient homeowners.
Another sign that in some cases there is a good negotiating position is that you are in the middle of a generational change. Many older people who have lived on the coast for a long time want to move to smaller accommodations, or back to their country of birth, and do not have the patience to wait for prices to rise again. But do not expect that the already reduced prices can be reduced much more.
The main reason why so many homes on Costa del Sol are empty is that it is difficult to get loans from Spanish banks, which have become cautious in connection with the crisis. However, we have good bank contacts who can offer up to 60 percent financing. This, of course, requires a stable economy on the part of the borrower.
In fact, this is an ideal time to buy a property in Spain, used or new development , in general and on Costa Del Sol in particular. Unfortunately, however, it is only (as usual) shrewd investors who see their chance and take action while prices are still low. Much like it works on the stock market. Ordinary people hold on to their wallets when times are bad, and invest when prices have risen again. However, the sharks hunt small prey before they have time to grow too big to swallow the whole…
It echoes like the emptiest in the homes between Marbella and Estepona, where prices have also fallen the most. However, this area has a slightly more uncertain future value compared to example Nerja.
There is no doubt that, with or without a prolonged crisis in Spain, Costa del Sol will continue to be a hub for Europeans who want to move to warmer latitudes. Incidentally, the Spanish crisis is not nearly as prominent in the Spanish media, and in the minds of the Spanish people, as it is in Sweden. Our media is filled daily with war headlines about impending depressions. In Spain, people are not quite as anxious and have a greater sense of history, and how it, without exception, always sorts itself out in the end. Or as Dickens put it: “This too shall pass”. Until then, they enjoy their sun, good food and the Mediterranean.
Write to info@spanskafastigheter.se if you want to know more about the situation in the housing market on Costa del Sol and how you can invest according to your needs and circumstances.
