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It is no surprise that the dream of an exclusive home on the sun-drenched shores of the Mediterranean has an irresistible appeal to almost everyone. But the reality of owning a Spanish retreat whether for weekends or the longer term is happening for a growing number of people. Many people buy property in Spain for a variety of reasons.

With Europe's ageing population more and more people are coming up to retirement age at a younger and younger age. Often their children have fled the nest and many are now selling their homes and opting for something smaller whilst investing the monetary difference in an overseas property.

Then there are younger couples, probably with two good incomes and a taste for foreign travel. Investing in a home in the sun makes an interesting alternative to squirreling it away in a pension fund. Chosen carefully, an overseas property should gain in value and provide a reasonable return from rentals while providing idyllic holidays whenever you want them. It could even be an eventual retirement home.

Of course, there's no shortage of people willing to make an even more substantial commitment by moving lock, stock and barrel to Spain. Now we have faxes, mobile phones and the internet an increasing number of people are no longer working nine to five anymore from a fixed location but are able to relocate their business overseas.

At the end of 1980's some 0.5 millions homes in Spain were owned by foreigners, at the end of 1990's this figure went up to just over 1 million, and in the last 5 years this number is thought to have gone up to 1.5 million. It has been estimated by The Asociacion Nacional de Urbanizadores y Turismo Residencial that an increase of another 1 million new foreign buyers is expected within the next 5 years.

PROPERTY INVESTMENT

Currently, the Spanish property market is very buoyant. New house prices in Spain rose by 13.7% in 1999, 15.9% in 2000, and 19.1% in 2001 over the previous year. More and more people are buying property as an investment where they know that they will get a secure return on their capital. In addition there are good opportunities and profits to be made in the property rental sectors. Spain boasts a continuous and stable property demand, property owners are offered favourable tax incentives and the costs are not as high as one might expect.

However, the reality is that when you decide to own a property in Spain, you are making a serious business decision as well as a lifestyle choice. It is clear that long-term happiness comes from making well-planned and wise investments for the future, and for this you need the best available advice in the market. You need a professional organisation that will listen to your requirements, answer your questions, and tailor the best solution to your personal needs.

Mortgages are freely available. Non-residents can obtain up to a 65% mortgage with very little difficulty and residents even more. Some of the larger developers are now offering up to 80% over 15 years.

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