Buying a Property in Spain, yes or no?As the world still struggles to come to terms with the worse crisis in decades, coupled together with political agendas and uncertainty, many of us might feel gloomy about the future of the EU zone and Spain in particular.

Some financial experts are saying that prices of properties in Spain will continue to fall in the future... This might be true, but let us not be fooled. Yes in various parts of Spain there is a property slump where prices have dropped between 25% and 40% since the peak in 2008 and will probably continue to fall due to the over valuation of these properties when they were first built or bought.

How many times as the words “location, location, location” been associated to property around the world, and Spain is no different. If your location and local amenities are poor, then the value of the property will reflect that, but if your property is in a major bustling city of Europe, like Barcelona, then there is a different property sector that you will find.

Yes, obtaining a mortgage in Spain is difficult or in some cases non-existent, but if you are looking for property that has come down in price, but surely will be one of the first to increase in value then you need to go to a city, and no place offers a better attraction then Barcelona.

Already a top tourist destination in Spain and Europe, Barcelona commands characteristics that many cities do not, such as the ocean, the Mediterranean weather and a lifestyle that is second to none, plus an atmosphere that will make most nationalities feel comfortable. How many cities’ can offer that, plus property is selling in Barcelona, and why you ask, because simply it offers a great return on your investment. An example to help you understand the possibilities that Barcelona holds, if you know where to look, a 50m² apartment, in the Old City of Barcelona, with 2 bedrooms and a private terrace (50m² ) was sold by HomeSearch Barcelona in April 2012 for 179,000.00 Euros, which would have cost well over 280,000.00 Euros in 2008. As a property investment goes, this particular client will be in a very strong position in two to three years time and in this short period of time, the client will be assured of a return.

It is essential that if you are contemplating purchasing a Barcelona property in today’s market that you seek professional and unbiased advice. Not only will you have intimate local knowledge of Barcelona, but you will be secure in your purchase as well as having a Barcelona real estate agency working for you, the buyer, and the not the seller.

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