The second home market will grow by 5% this year, according donpiso – Yahoo Finance Spain

MADRID, 9 (EUROPA PRESS)

The real estate portal donpiso.com expected second-home market could grow about 5% in 2016, encouraged by the context of economic recovery in Spain, opening up the real estate credit, increased profitability and increased construction of new buildings have also encouraged the market for second homes or vacation homes.

Specifically, estimates that more than 20% of Spaniards have a second residence in rural areas and towns, and whose usefulness is mainly to enjoy the holidays and weekends.

“the holiday home responds as the needs of a non-permanent population, whether Spanish or foreign, seeking a residence to spend seasons or even to settle permanently, “explains donpiso.

as for the profile second home owner, points out that the economic development of the Spanish society in recent years has favored the purchase of a second home to a large segment of the population. Spanish buyers are also looking at the coast and usually originate in the same region in which the property or surrounding provinces are located.

It is precisely on the coast where they have begun to start projects, especially in the Mediterranean, noted for its “high quality and good location.” Malaga, Alicante, Valencia and Tarragona are some of the locations that are attracting the interest of investors and developers to build new housing for holiday use.

MORE INVOLVEMENT OF FOREIGN PUBLIC.

in addition, second homes increasing role cobra foreign audiences, especially who spends long periods in Spain or who decides to permanently transfer their residence. The Russians and citizens of countries of Central and Eastern Europe have emerged as new players in the housing market holiday, closely linked to a high-end product, mainly in Catalan and Malaga coast.

Another the factors that confirms the recovery in the housing market is that they are taking up half-finished works and some areas are experiencing positive developments in the numbers of new work visas. In addition, the terms of sale of existing homes are shrinking in recent years.

“All these factors portend a sustained growth in supply of holiday homes and prices, both in coastal areas and rural. the latter most sought by those seeking to get away from the bustle of the coast, especially during the summer months, “adds donpiso.

TIPS.

from donpiso advise buyers take into account aspects such as maintenance costs, location, ease of access or nearby public housing services. If the house is new construction, make sure that everything is legal and that the materials are those specified in memory.

For a second-hand house, indicates that it will need to review basic issues such as electrical, plumbing, or moistures before buying. Finally, notes that if at some point it will not go regularly to the second home, there is always the option of thinking about renting the house and get performance

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