Following the increase in the interest rate, holiday homes in Spain are feeling the pinch, as homeowners start to tighten their belts. Some people who have purchased their holiday home during the last two years, when the interest rate was lower, may now have to consider selling.
There are some areas in the Spanish market, where property prices are higher which have stagnated. However, Spanish experts claim that there is no cause for alarm and the market is cooling in a nice way.
Our view
Spanish property agents will say that markets are stable. The reality is that certain areas of Spain have been having immense difficulty selling property for over 5 year. Do not believe all the hype.
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