Living in Spain offers residents a combination of historical and modern properties, spread throughout cities that are rich in culture and history. Unlike cities such as the U.K., where many houses are often crammed into a small space, the aged architecture in many Spanish cities brags properties that are spacious both inside and out. When combined with a climate that is appealing for outdoor enthusiasts or workers alike, looking for property for sale in Spain immediately becomes an attractive prospect.
Through the late noughties and the decade that followed, the value of Spanish property plummeted, due to the financial crisis. It is only recently that the property market in this beautiful part of the world has begun to see some form of recovery. With prices having suffered so much in the past, dropping anywhere up to around 44%, there has rarely been a better time to invest in foreign properties.
This turnaround in the market not only benefits those looking to purchase a holiday home in sunny climes, but also investors looking for a long-term rental income. Of the Spanish cities, Barcelona commands the highest rental prices per square foot, with central and suburban Madrid coming in a close second and third.
Investors may be surprised to find that the process of applying for a Spanish mortgage is different to that of the U.K. and many other countries. This problem can be compounded for those applicants who do not possess Spanish as a spoken language, making documentation and legal processes complex and confusing.
Damlex Reality experts are trained to make the process as streamlined and stress-free as possible, handling all documentation and application requirements pertaining to the application for a Spanish mortgage.