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Property Investment Facts
A collection of hard facts from various sources outlining the potential a property investment in Spain can offer and outlining why now is a perfect time to invest in property in Spain. A collection of hard facts from various sources outlining the potential a property investment in Spain can offer and outlining why now is a perfect time to invest in property in Spain.
Property Investment Spain - Facts & Figures
- According to a report the European Union recently identified the Costa’s as the fastest growth area in Europe in terms of population. Currently some 2.5 million people live on the coast, this figure is expected to rise to 6.5 million by 2011.
- A La Caixa Bank survey states that foreign investment in Spanish property rose from 3,000€ million in 1999 to 6,043€ million in 2002 and this figure is expected to continue to rise into 2006 and beyond.
- The strength and stability of the euro, which has recently reached its peak exchange rate against the US dollar is also seen as a key factor that has contributed to the increase in property prices. Demand is still high and it has been estimated that around five million buyers, mainly from Northern and Central European countries, will be seeking a permanent or a holiday home in sunny Spain over the next decade.
- Cheap flights and growing number of airports servicing Spain, the poor performance of the Stock Market, increasing disenchantment with the cold weather and stressful lifestyle of Northern Europe are combining to ensure that buying property in Spain remains one of the world's favourite and most lucrative investments contrary to belief this type of investment is on the increase.
- Currently Spain has one of the best performing economies with the EU. GDP growth for 2004-05 has been forecasted by the Economist Intelligence Unit to grow by 3% and 3.2% respectively.
- Vendors selling their primary home do not incur Capital Gains Tax. CGT is applied to the sale of 2nd properties but decreases yearly based on the period of ownership and relevant inflation rate. Wealth tax is 0.2%-2.5% on 105.000€+.
- It is also expected that as time progresses, the property prices within the Euro Zone will start to level out, making now the ideal time to invest with the strong pound and low interest rates.
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| El Galan |
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| € 99,995 |
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| La Zenia |
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| € 85,000 |
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| Playa Flamenca |
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| € 89,000 |
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