SPANISH PROPERTY MARKET OVERVIEW

   There are numerous programmes being shown on British TV, depicting life in Spain, and about buying Spanish properties.

The myth though, is that people in the
UK can snap up a dream home for £60,000 or less.

The reality is... Many of these TV programmes are over 2-3 years old, and way out of date !

Property prices have risen since then ...

... And they will continue to rise...

£60,000 will buy you some land, with perhaps a ruin on.

It might also buy you an apartment way inland, which you can use for holidays, or rent out.

£85,000 will buy you something more reasonable, perhaps even liveable.

But you should really set your sights on a budget of £100,000-110,000 plus, to get something decent.

Whilst there are still bargains to be had in some areas, you are more likely to succeed in buying a dream home if you have set a realistic budget.

Your money is safe. The view of most professionals is that the Spanish property market is very bouyant with people leaving the UK in droves, and that it will be many more years before property prices will slow down.

So please, take into account that if you see a TV programme about life in the sun or buying abroad, it may be a repeat of a repeat of a repeat......

Re-adjust your sights accordingly, and avoid disappointment. !

   In real terms, Spanish property prices have risen every year since 1997.

According to the end-of-year figures from the Spanish Government, property prices have risen by 17.45% in the course of 2.004, which means over 4% in every quarter of the year, after rising by 17.6% in 2.003, 18.1% in 2.002, and 15.9% in 2.001.

Therefore, properties  are 89% more expensive than they were 4 years ago.

    However, prices did not increase at a uniform rate across Spain. Murcia region was undoubtedly 2.004's hottest spot with a 27%-price-rise, way ahead of all other regions.

Property prices in Murcia region have more than doubled and are up by 126% the highest level in all of the country, well above the national average.