For many of us, we have noticed a change in the pattern of the needs and wants of the house hunters in search of a home in Spain. Various property development companies have released its inquiry profile figures for 2008 that show "would be buyers" have addressed their budgets, number of bedroom requirements, types of properties and the reason for purchasing a home in Spain.

The most notable change has come from potential buyers who are showing more interest in properties at the lower end of the market. Nearly 2 out of every 3 inquires now are coming for properties below the €250,000 price band and recent statistics have revealed that inquiries relating to properties in the €150,000 - €250,000 have risen from 35% in 2007 to 67% in 2008. Even though the credit crunch has dealt a heavy blow to the housing market in Spain, people would rather change their budget requirements then putting off their dream of owning a property in Spain.

We believe that if people do have the availability of money then there has never been a better time to get into the market or even build on that plot of land you have been sitting on. There are buyers out there looking for property, but they are more educated on the current market and know what they are looking for. A few of our major Clients are re-entering the down turned market, but the brief is all the same, instead of leaving their money in a bank account to receive low percentages return they would rather invest in lower end properties that hold a high rental value and can give a monthly return - with many local holiday letting websites confirming this new trend in the market. The other trend in the market that we have noticed is the increase in inquiries for plots of land and potential buyers contacting us on understanding town hall requirements, building specifications and regulations.

Why Buy in Spain 
As we know, the main reason for buying a property in Spain is for a "holiday home or 2nd residence" and majority of inquiries adhere to this trend. However, with people wanting to permanently move to Spain, the inquiries from 2007 to 2008 have significantly increased for reason of poor weather in and around Northern Europe, modern technology that allows people to work from anywhere and of course the access hub from Malaga Airport allows for easy access to other parts of Europe - making Spain the best of both worlds for potential home owners.

People's interest and pastimes also dictate where they want their property to be located. Golfing is still the most popular activity and plays a major role in many decision made by potential buyers. Other activities that figure for many people are hill walking, tennis and Nautical pastimes. With many developments and plots of land that we have being located close to or on a golf course does satisfy the demand, with hill walking and tennis being within close proximity by car - the Costa del Sol still holds everything, for everybody.

Size of Property 
The normal 2 Bedroom/2Bathroom properties still the first choice for people when inquiring, but there have not been to much interest being shown in the 3 Bedroom market, as buyers are now re-adjusting there requirements. We all understand the attraction of Spain, but with the current market potential Clients would rather compromises on space and buy a 2 Bedroom/2Bathroom property then forfeiting the dream of owning a home in Spain.

Conclusion 
Even though we are constantly fed negative news about the world economies, that fact remains that the Costa del Sol and in particular Marbella are still very much a sought after destination for either holidays or living. With property prices decreasing, interest rates being at the lowest ever and mortgage rates reduced there has never been a better time to buy or build in Spain. With Spain being rated in the top 5 most popular tourist destinations, this popularity helps ensure that buying a property or plot of land in Spain will hold its long term value, especially in enviable locations, now is the time to buy.