One website recently ran a piece reporting that experts were predicting that property prices in Spain would “cool” by up to 10% this year. Nothing could be further from the truth. Just look at the newspapers. One newspaper declared that highly qualified professionals, numbering at least 100,000 per year, who are leaving the UK for Spain. And don’t forget the people who are already living in Spain, such as the one million British homeowners-a figure that they say will even increase. In two years there will be over 3 million British homeowners. And a Barclays Bank’s survey, suggested that a further 660,000 British people planned to buy in Spain.

Why Britons love Spain

Why? What is prompting this exodus? The reasons seem to be many; not least that Spain is a great place to live. But that’s not all.

First of all it’s easier to borrow. The mortgage market is maturing. Although we have seen increases in the base “Eurobor” rate the variety of mortgage products available from Spanish and other European lenders are still very appealing to those buying in Spain, particularly those who hail from higher servicing cost regions, such as the UK.

Second of all, the properties are affordable. It’s a “buyers market”. Vendors seem to have realized that they can’t get customers if they have ridiculously higher prices. Furthermore the stiff competition has made them more and more willing to offer “value” services at more affordable rates. If you want to make a sale simple economics are dictating that the best advice may be to drop the price - the demand is there so match it!

Third of all, the development of Spain has been astronomical. It has excellent infrastructure, highways, medical facilities. In fact the hospitals were named to have the fourth highest quality of service in the world. It was only a matter of time before Spain’s property entrepreneurs, prompted by the fierce competition for expat investment, would deliver compelling ways of re-presenting Spain.

These are just some of the reasons why people are flocking to Spain. It is really a very pro buyer environment and there are very few countries that can offer this kind of environment. No wonder the real estate industry is booming. So what are you waiting for? Buy property and see your investment pay off in the next few years. After all this is a once in a lifetime chance, act now!