Spanish property is back on the agenda for thousands of Brits, and with good reason.
The dream, they said, was over. The boom years for the Spanish property sector, which stretched like a gloriously debauched summer over the first seven years of the millennium, ended abruptly in 2008 as much of the world’s major economies were plunged into recession.
Spain was particularly hard hit, not least its construction sector, which only a few years before had been the driving force behind the economy’s sterling – if unsustainable – performance.
As the industry contracted, media outlets across much of Europe, particularly the UK, declared the dream of owning property in Spain over. With prices plummeting, few banks lending and even fewer – it felt – people actually able to afford to buy, there was an undoubted downturn.
But the dream never died, it just evolved. Today, as Spain’s economy shows encouraging signs of recovery, thousands of Brits have flocked back to the Spanish property market. This time their approach is less “how can I make money fast” and more “how can I realise the dream of owning a lovely, affordable home in Spain”.
And there are five key reasons just why this dream is becoming a reality for more and more Brits every day…