Property investments in Galicia - Spain
Unique opportunity
There are many reasons behind Laxe's
growth in property value. First of all the Spanish economy
is growing fast; actually it's at the top of many Western
European economic indicator tables.
Furthermore, Galicia is a region that was somewhat "left
behind" compared with the rest of Spain, and which is now
catching up, with added impetus from the regional
Government's economic policies.
The area is an interesting one on many fronts: unspoilt,
low contamination, a mild climate, great food (and
seafood!), excellent wines, history, wonderful places to
visit. And last but not least, Laxe is becoming the place
where many Spaniards want to go: last year a Spanish
soap-opera was set there, and as a result everyone in the
country knows the town.
The main reason behind such impressive growth is the
impending town-planning project awaiting approval: the
regional government of Galicia is completing an urban
planning scheme by asking local councils to propose
detailed plans for approval. The Laxe municipality has
presented its plan in July this year and the regional
authorities have rejected it pending some minor
alterations. No new construction will be allowed to take
place anywhere in the area until the complete plan has been
approved. So this is a good time to buy because as soon as
the new planning scheme has been re-presented (and
approved), building will commence immediately and prices
will rise considerably.
As well as the afore-mentioned, the housing market
has already been giving good returns. Over the past 12
years values have practically doubled (see graph). This
strong trend has begun to weaken slightly since 2003, but
is still positive and the market performing well (annual
rises have averaged slightly over 6% between 2005 and
2007).
Act now and contact us for a
specific proposal to suit your needs and budget.
