It’s about going on holiday where you feel as comfortable as you are at home, but with the “escape” aspect built in.
Demand for vacation properties has been on the increase in the last year, mostly fuelled by people’s needs to take a holiday at any time they need, to retreat to a place where they feel secure. “Home”, in terms of “second home” has been a key trend, in holiday locations, a recent study about vacation escapes, “Marktstudie zu privaten Fereinimmobilien 2013” co-published with Engel & Völkers reported (http://goo.gl/AQjsC).
Not just having a permanent escape, but the circumstances of the moment make the deal even more desirable. Comparatively stable prices and suitable loan conditions make the Spanish property market hot and a place where northern Europeans have been setting up their second home, according to “Die Welt” reporter, Ute Müller.
Not only is buying a second home more affordable, the stigma has also relaxed. A second home is not just for the wealthy. The “Marktstudie zu privaten Fereinimmobilien 2013” explained that vacation properties are for holiday escapes, and second homes are aspirational dreams held by many.
The “Marktstudie zu privaten Fereinimmobilien 2013” study went on to explain that 60% of the people who participated in the survey will purchase a holiday rental apartment or house, and then modernise it with their own tastes. Often with a view of how this transformation can support good future re-sale opportunities. Although the primary reason for a second home was to have a ‘permanent escape’, the financial return aspects consistently ran as an undercurrent through the mindset of buyers. Property worth often depended primarily on potential to sustain a good rent, while condition of the property and future demand estimates also play a role in its desirability as investment.
Müller’s report in “Die Welt” stated that it is a mix of northern Europeans, Russians, Britons and Chinese who are buying second homes in the Spanish market,. According to an internal study from Telefónica, Spain’s telecommunications company, 25% more holiday homes were sold to foreigners in the last year.
The idea to invest in a second home in Spain has never been better and certainly draws the attention of the international market.
The discreet customer segment, who seeks luxury villas mostly on the coast of Barcelona or Costa Dorada to the south, is also quite busy, with only a few diamond properties for those who have the discerning tastes.
Wherever you look on the Spanish property landscape, the attraction for a second home, which embodies the luxuries of “home” typically have location close to the sea with a view and infrastructure high on the list. Easy access for flight and car, as well as high recreational value for families and extended friendship circles to also come and visit.
At Engel & Völkers, we have a selection of properties from the modest weekend retreat finca to luxury villas kept under secret. Whatever you dream escape is, our professional and discreet team in Spain can help you plan your next steps.
Please contact us: Mireia.Contreras@engelvoelkers.com
Or you can share your Spanish second home stories with us on our facebook fansite: www.facebook.com/engelandvoelkers