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Is this the right time to sell your overseas property in Spain? Are there any secrets to selling overseas property in Spain in 2019?
Well, if you’re in urgent need of cash, or are looking to move out of Spain, then yes, this could be the right time for you to sell your overseas property in Spain. You’re very likely to get a very good price for it, as the demand for properties in Spain has never been higher.
Spanish Overseas Market Trends 2019
While it is true that the Spanish property market was down and out after the 2008 financial crisis, the fact is the economy has recovered greatly since then. This is in spite of the climate of political uncertainty in the country. There is a new Prime Minister in power, but politics in general has become like a game of musical chairs in Spain.
The interesting thing is that the Spanish economy has delinked itself from the politics of the country. It’s like investors don’t care who is in power in Madrid. This is a country built on tourism, small business and entrepreneurship, and politicians don’t matter. The tourism stats for 2018 were very impressive, and they are so far just as good in 2019.
That is why there will always be a lot of demand for properties in Spain. Spain has the world’s hottest overseas property market. So there are always high net worth individuals from China, Russia and the Middle East who want to buy a second home here.
Many of them are excited by the Golden Visa program initiated by the Spanish government to encourage wealthy non-EU investors to buy property in Spain. An investment in Spanish properties worth €500,000 or more can get the buyer and their immediate family a residency permit in that country.
It’s not just about rich and successful people from these parts of the world. The biggest trend in the Spanish property market in 2019 has been the rise of the Venezuelan buyer.
Millions of middle class and upper class Venezuelans have fled their country to escape the massive economic crisis there. Many have made it to Spain and are desperately searching for a place to stay here.
Apart from that, you always have the usual crowd of British expats, French, Germans, Americans, Canadians, Australians and Scandinavians looking to buy a second home in Spain.
How to Sell Overseas Property in Spain?
Selling overseas property in Spain is easy enough – the demand is so high that no house remains on the market for too long. But if you want a really great deal, you should target wealthy international buyers who can pay for the whole deal in full and in cash.
For that, you should hire the services of an overseas property agent. A local agent cannot help you with that. An overseas property specialist will have contacts with other agents and serious buyers from China, Russia and the Middle East. They can help you find a really good deal and get as much as possible out of the property sale.