Spanish property prices have risen dramatically over the past three to five years, which has had a two fold effect. Firstly from an investment point of view, people looking to provide an income stream through property rentals, have begun to turn their backs on the Spanish Costa’s. Secondly people seeking a home from home in the sun, have also begun to look elsewhere, lured for the same reason, property prices.
Investment opportunities have begun to appear in the former eastern block countries such as Bulgaria. Villas and investment properties in these countries have begun to look attractive from both the investment point of view, and also to those people seeking a new lifestyle. There are however, some major drawbacks that should be fully investigated before one parts with any money, in what could turn out to be a very costly investment mistake.
Spain has been the destination of choice for the sun-seeking British tourist for many years and as such is geared up to cope with investors in the property market. The tertiary infrastructure is in place, evidence of which can easily be seen in institutions such as banks, all of which employ English speaking staff. This is also the case when one looks at insurance companies, medical facilities and just about every other service provider.
Investing in Spanish property is pretty much a safe bet. When one invests in bricks and mortar in a country like Spain, you know that it will return a healthy dividend.
Villas and investment properties in a country like Bulgaria however, are far from a done deal. The infrastructure is biased towards Bulgarians, so the first obstacle you are liable to encounter will be the language barrier. When looking at property from the investment angle, you only need to ask yourself one question, which is how many holiday makers will go to Bulgaria as opposed to Spain?
Property prices will reflect what is happening in a particular region be it in Spain, or elsewhere. As an investment property, whether it’s a villa or an apartment, it should be returning an income at the earliest point in time from the property purchase. Investing in Spanish property whether on the Costa Blanca, Costa Calida, or the Costa Almeria is going to be a much safer option to accomplish this criteria.
Property can be a fairly volatile market it is therefore advisable to look at countries like Bulgaria, who are trying to join the European Union. One need look no further than the shenanigans taking place between Austria and Turkey, which is at present trying to join the EU. So whilst Bulgaria is scheduled to join in 2007, entry is by no means a forgone conclusion. Investing in a country like Bulgaria could ultimately turn out to be a very costly investment mistake.
Investing in Spain, when one looks at the property market from all angles, doesn’t after all, look like the expensive option. An investment in a recently democratised country like Bulgaria could in fact turn out to be even more expensive, should the country revert to communism and snatch back all properties owned by foreign nationals.
VIP in Spain is a realtor on the Costa Blanca and their website can be found through the link here: http://www.vipinspain.com/ VIP in Spain are among the leaders when it comes quality of service and the selection of properties they have to offer.
Villas, apartments, Town houses, land and all other types of investment property can be found on their books. So if you are serious about buying a property look them up, after all, it costs nothing to look!
Thomas James is a freelance writer and has written many articles on the subject of Spanish property investment. He can be contacted at firstname.lastname@example.org and his website is located at http://www.europeannewmedia.com