Why Have Property Prices Gone 'Through The Roof' On The Costa
Blanca Coast Of Spain?
Some of the main reasons prices on the Costa Blanca have gone
so crazy (generally acknowledged as doubling in the last four
years) are:
* As the British have seen their house prices soar, they have
remortgaged heavily and taken some of the equity out of their
main home in order to buy a second home.
* The Spanish have seen this influx of money and have raised
prices - people have paid the higher prices - so the Spanish
have raised them more - again they have been met and so the
cycle keeps on going until finally buyers are exhausted and stop
buying. Are we at that point - well see below.
* People retiring have sold their main home in the UK and have
increasingly had larger and larger sums as the UK prices kept
increasing. People in Spain see this and ask for more (and get
it).
* The Costa Blanca is a fantastic place and so of course it is
desirable. It is said to become the California of Europe and as
people have cottoned onto its great potential they have come
here in droves, driving the prices up.
* The Costa del Sol, seen as the place to be got ahead of itself
and suddenly the Costa Blanca seemed cheap in comparison. The
Costa Blanca has much better beaches and a better climate
especially as it is not as unbearably hot in the height of
summer. The Costa Blanca is not so overdeveloped.
* Low interest rates have meant a second home has become much
more affordable.
* The development of Europe has meant that people are more
comfortable with the thought of buying abroad and the European
laws on paper offer more protection (although try telling that
to people affected by the Land Grab Law in the province of
Valencia!).
* The emergence of all those low-cost, no-frills airlines has
made travel more affordable and accessible. Now people can
commute from Spain to England!
*Keeping-up-with-the-Jones's factor. Lets face it - if your
neighbour has just got a weekend bolt hole in sunny Spain and
you have just endured another rain-soaked weekend then it's odds
on you will start to want one too!
* All those TV programmes such as A Place In The Sun have made
buying a second home seem as simple as doing the weekly shopping.
* To us British the comparison in prices has been a no-brainer.
A bigger house, more land for half the price of that in England
has seemed a bargain. Of course now that prices have gone up the
difference is not so obvious.
Mark Eastwood is one of the thousands who are fleeing their
homeland of England to go live in sunny Spain. Want to know what
life in Spain is REALLY like with lots of to-the-point and
brutally honest information?
Then go to http://www.costablanca
uncovered.com