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.
