Despite slump, Scandinavians still show interest in Spanish real estate
With a lack of potential buyers for Spanish property in the United Kingdom and other traditional foreign markets it’s not surprising that sellers are looking further afield for buyers.
Sweden is one country where people still seem to be buying property in Spain, primarily as holiday homes. After all, with continuous darkness in some parts of Sweden during the winter months you can understand why buying a €60,000 to €120,000 house in the sun is such a desirable prospect.
“The Swedish and Norwegians are definitely buying,” says Oscar, a Swedish conveyancing expert at Ábaco.
So for those interested in selling a property, what are they looking for?
“They usually want somewhere that’s not too isolated and a property that is in good order. They like things to be tidy and to work. They are quite particular about what they’re buying and you can expect some searching questions from them, especially if you are selling your house furnished.
They usually like to buy as a non-resident first, try their property and the area out for holidays, with a view to gradually spending more time here as they get older. They do like to buy somewhere where there are perhaps other Swedish people living locally but we still find quite a variation in the areas they are looking at.
A big plus is if there are people who are resident living around the property. They’ll often leave their keys with someone locally and rely on friends and neighbours to keep an eye on things. They enjoy their clubs and societies, they’re quite sociable all round as a rule.”
Why are the Swedish and Norwegians still buying so enthusiastically when the UK market has all but dried up?
“Money in the economy is a major issue,” Oscar explains. “There is still more money in Sweden and definitely in Norway. They are also very pragmatic about the current economic climate. They recognise that they can buy in Spain at a good price and although they will ask questions about the Spanish economy they know that what they are getting is a lot for a little. They will enjoy their purchase and that’s priceless.”
Oscar’s advice if you want to break into the Swedish housing market?
“Go to a Swedish estate agent, of course.”
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Ábaco AsesoresÁbaco Asesores is a firm of lawyers and tax advisers established on the Costa Blanca in 1999. We have clients all over the world and provide legal and tax advice in seven different languages.
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