For many years Costa del Sol has seen abundant numbers in German and British property buyers. In the last two years, things have changed and currently today, Scandinavians are taking the property ladder by storm.
A home under the sun seems to now be more popular than ever. At the bargain prices that Spanish properties are on the market for, we understand why!
An inquiry states that 51% of Scandinavians look for properties in the range of 50,000 € – 150,000 € and ’32% desired a minimum 2 bedrooms and 55% requested a swimming pool’.
Facts are that Scandinavian countries; Norway, Denmark, Sweden, Finland and Iceland have been less affected by the economic crisis and hence hold a much stronger position in today’s economy. Spain is living through a ‘buyer’s market’ in Property, a huge bonus for these ailing countries!
Many still refer to Costa del Sol (southern Spain) to “Costa Catastrophe”, following the big fall in prices and unsold new built properties populating the southern coast.
It is true that many banks have opened Real Estate websites selling repossessed homes at a fraction of original prices, as far as 60-70% off. However, Real Estates are doing the same thing. It is no longer only banks selling cheap, everybody is selling cheap!
Making up a fifth of the buyers in Spain, specially Costa del Sol are the Scandinavians, particularly from Sweden or Norway.
Favorable exchange rates and bargain prices, there really is nothing stopping you from purchasing your dream home under the sun.