It is the same thing everywhere, your location is crucial to your Real Estate investment. For some reason though, many foreign buyers do less research than if it were in their home country. People are in a vacation mood and make decisions they may regret later. A site we like to recommend for information and Real Estate listings is Reals.
If you are not fluent in Spanish, you may consider settling in a area where more of your country folks are. It makes it easier to establish a social life where the language is not a problem. There are many of those areas in the Costa de Sol, Costa Blanca and especially around Marbella. You can find some good listings at our friends' web site: Properties Costa Blanca
Before you choose a location like this, you may have to think again. Not only are Real Estate prices and property taxes higher, but also the resale value could be endangered. This is especially a concern for new developments intended for vacation homes. If the development is successful, all is well and you probably made a good investment. But if it is not as successful as you were hoping for, you may end up with hard to sell property. Chances of selling your home to a Spaniard are slim, you are designated to sell to another foreigner.
The good news is that Spain is becoming the hot spot for foreign real estate investors and expectations are that the population will increase with 10 million people. Even though prices have gone up in the last 5 years substantially in the "Costas", real estate prices are still moderate compared to other countries, especially for the "strong dollar" Americans.
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