Why is this the best moment for buying your second home in Spain?
The world changed drastically after the COVID-19 pandemic. Most people were forced to spend more time at home than they ever did. This brought a sweet-sour flavour of coziness and boredom that was unheard of in recent times. What is the solution to the tedious routine of doing home office every day? Well, a home away from home can break the cycle and help you stay happy, productive, and focused. Read on and find out why this is the perfect time to get your dream house in the Costa Blanca of Spain.
Home away from home
A home away from home wasn't a must un1l the 2020 COVID-19 crisis came upon us. What is a home away from home? Well, it is a fully-equipped house that can offer you exactly the same comfort that your current house does but located in paradise. Imagine for a moment if you could change the UK ́s stormy weather to spend a month in paradise with all the family working from the house of your dreams. That can be a reality buying a second home in Costa Blanca where the climate is wonderful and the sight of the Mediterranean Sea haunts your senses.
A bonus in this sense is that ren1ng the property while you are not there can generate passive income as well. According to market indicators by the Bank of Spain, the gross return on rents was only diminished from 3.9% to 3.7% compared to the same period in 2019.
Prices are dropping
Because of COVID 19 crisis, the real estate market suffered millionaire losses. The en1re financial system in most countries went close to a complete stop and is slowly rebuilding. This 1me bracket un1l catching up with old numbers leaves a golden opportunity for those in the posi1on to take it. If you have the funds to acquire property, you might be able to buy a much more comfortable and bigger place for less money than usual. In fact, according to a recent study, the average discount rate over the price was of 9% for recent opera1ons in Spain.
Cash needs are imperious
Those buyers who can bargain with large sums of cash will see huge discounts applied to current prices. Liquidity is, today, a huge asset because it allows flexibility and hence, it is the ace up your sleeve. SiYng down to nego1ate the price on a property with a load of cash on your side of the table is worth more than ever nowadays. If you are a part of this lucky group, chances are you can land the opportunity of a life1me right now.
Increased offering
Finally, because of the complete stop of economy, more people are cuYng expenses. One of those expenses cut can be selling their property overseas to invest in turning their business into an e-pla[orm, for example. This par1cular juxtaposi1on of events leads to an increased offering in the market we see nowadays. In fact, these offerings include those dream houses whose owner wouldn't have put on sale on any other occasion. You have plenty to choose from; all types of property in every city of Costa Blanca are for sale at the moment. Furthermore, with cash in your pocket, you can land the deal you want in the house you always dreamt of at a price you never thought possible.
Conclusion
The 1me bracket opened by the pandemic is an uncanny opportunity. The prices and the offerings available right now along with the benefit of working from a home away from home will not last forever. Those who take advantage of this unique situa1on might increase their patrimony at a frac1on of a price it would normally cost them.
Don't hesitate and realign your stars overlooking the Mediterranean Sea with the so_ Spanish breeze caressing your skin. Your dream can become true in Costa Blanca; make the move today!
