Spain is once again becoming a hotbed for property investment, as low interest rates, rising property prices and growing confidence in the Spanish economy spur interest from expats and foreign nationals in the region. In light of these favourable conditions, mortgage approvals rose 19.8% in 2015, marking a paradigm shift in the direction of the Spanish property market.
This comes as welcome news to foreign nations and expat investors, particularly those looking for lifestyle investments in the traditionally ‘safe’ region of Europe, meaning mortgage interest is likely to rise further over the coming months.
Spain’s Economy Bounces Back
The Spanish economy suffered a massive blow when the recession hit in 2008, which caused property prices to fall by an average of 40%. It’s been a slow but steady recovery for the market – particularly when compared to the mortgage loan record highs of €188.3 billion seen in 2006 – but the market is beginning to pick up pace as investors flock back to Spain.
2015 was a fantastic year for the Spanish economy, witnessing growth of 3.2% – one of the fastest rates on the continent – along with an increase in mortgage approvals of 19.8%, according to the National Statistics Institute. After 19 consecutive months of growth, December 2015 saw the total reach €25.9 billion.
Expat Mortgages in Spain
In response to the huge growth in enquiries for Spanish mortgages we have received from expats all over the world, Liquid Expat Mortgages have developed a unique position to offer our clients independent mortgage solutions for investment opportunities in Spain.
Our dedicated Spanish mortgage experts offer an end-to-end service, with a local processing centre and global reach. We take pride in our strong relationships with professional advisors and lenders, allowing us to give you access to preferential fixed rates as low as 2.6%, and loan-to-value ratios of up to 70%.
Whether you’re planning for retirement or looking to take advantage of high rental yields in popular Spanish resorts, our advisors will support you every step of the way when securing finance and searching for that ideal property.