The popularity of Spain as a holiday destination over the last year has reasserted itself. Twelve months ago, there was a large growth in potential property purchasers looking for new, emerging, often viewed as 'better value' markets than Spain leading to a glut of Spanish property stock, especially on the popular Costas. Towards the end of 2008 however, many of the flight routes to emerging European destinations were cancelled leaving buyers less sure of the more untried and untested destinations.
Nevertheless, the resultant over supply of holiday homes in Spain led to price reductions in some areas, which can be viewed in a positive as well as negative light. Whilst some investors became unsure about potential price drops, others saw the opportunity to grab a bargain and this is set to continue in 2009. Whatever the changing economic circumstances, the underlying reasons why Brits love Spain remain unchanged. The year round sunshine, easy going lifestyle and comparatively lower cost of living are still strong pull factors. For the climate alone it is regarded as one of the preferred destinations for the retirement market.
In addition, many looking to retire abroad are coming to the conclusion that emerging destinations may not have the same quality of health care or the familiar culture they see Spain offering them. There is a very strong future for the market for property in Spain.
