To hear the doom-mongers in recent months, one might think that Spain has become nothing more than yesterday's good idea, the hot-spot for property investment that turned cold while new destinations
United Kingdom of Great Britain & N. Ireland (Press Release) August 20, 2007 --
To hear the doom-mongers in recent months, one might think that Spain has become nothing more than yesterday's good idea, the hot-spot for property investment that turned cold while new destinations overseas took its place.
Not so, say property investors involved in the country; there may have been a correction in the market, but rumours of Spain's demise have been greatly exaggerated and now they have the proof.
This comes in the form of research by GE Money, which set out to interview 100 mortgage brokers about what they believed were the best short and long-term prospects, reports property specialists propertyinspain.net.
What they found from the brokers was that Spain was second when it came to prospects for price appreciation in the next 12 months and top overall as a long-term prospect.
This second aspect is what will interest a great many investors, whose interest will take into account the fact that a long-term commitment may help ride out short-term difficulties that may occur from time to time, such as periods of economic downturn or high interest rates.
What is certainly long-term, the research found, was that the traditional appeal of Spain - food, sunshine and culture - still remained. Moreover, propertyinspain.net states that many of its clients are now looking for prime investments worth up to 60 per cent more than the market average for the country.
Sales manager Ben Walker said: "That's a high level of commitment and it reflects the awareness and stability of the Spanish real estate market generally so far as international buyers are concerned. Locations like Ibiza and Costa Blanca are where people want their investment and dream homes."
Many in the property industry agree, not least because Valencia has a growing sporting profile. Its football team gained a major profile by reaching the Champions League Finals of 2000 and 2001, followed by winning both the Spanish league and the UEFA Cup in 2004, while the city has a redeveloped new marina and waterfront to attract those who like boating thanks to its hosting of the Americas Cup this year.
Craig Holden of developers Rawlins and Holden told the Daily Telegraph something similar happened in Barcelona as a result of hosting the 1992 Olympics, but people could find the same sort of property in Valencia as Barcelona for "half the price".
He added: "The America's Cup and next year's grand prix have raised awareness of the city immensely. So has the success of Valencia's football team, which means more to your average man in the street."
So to sun, sand, food and culture can be added sport, which, as Barcelona in 1992 and other cities hosting sporting events have shown, can be a major aid to urban renewal. If Valencia booms by being the temporary home to the world's best yachtsmen and racing drivers, it will just add another element to a still healthy Spanish property investment market.
Not so, say property investors involved in the country; there may have been a correction in the market, but rumours of Spain's demise have been greatly exaggerated and now they have the proof.
This comes in the form of research by GE Money, which set out to interview 100 mortgage brokers about what they believed were the best short and long-term prospects, reports property specialists propertyinspain.net.
What they found from the brokers was that Spain was second when it came to prospects for price appreciation in the next 12 months and top overall as a long-term prospect.
This second aspect is what will interest a great many investors, whose interest will take into account the fact that a long-term commitment may help ride out short-term difficulties that may occur from time to time, such as periods of economic downturn or high interest rates.
What is certainly long-term, the research found, was that the traditional appeal of Spain - food, sunshine and culture - still remained. Moreover, propertyinspain.net states that many of its clients are now looking for prime investments worth up to 60 per cent more than the market average for the country.
Sales manager Ben Walker said: "That's a high level of commitment and it reflects the awareness and stability of the Spanish real estate market generally so far as international buyers are concerned. Locations like Ibiza and Costa Blanca are where people want their investment and dream homes."
Many in the property industry agree, not least because Valencia has a growing sporting profile. Its football team gained a major profile by reaching the Champions League Finals of 2000 and 2001, followed by winning both the Spanish league and the UEFA Cup in 2004, while the city has a redeveloped new marina and waterfront to attract those who like boating thanks to its hosting of the Americas Cup this year.
Craig Holden of developers Rawlins and Holden told the Daily Telegraph something similar happened in Barcelona as a result of hosting the 1992 Olympics, but people could find the same sort of property in Valencia as Barcelona for "half the price".
He added: "The America's Cup and next year's grand prix have raised awareness of the city immensely. So has the success of Valencia's football team, which means more to your average man in the street."
So to sun, sand, food and culture can be added sport, which, as Barcelona in 1992 and other cities hosting sporting events have shown, can be a major aid to urban renewal. If Valencia booms by being the temporary home to the world's best yachtsmen and racing drivers, it will just add another element to a still healthy Spanish property investment market.
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