If you’re thinking about buying a Spanish property, you will need to think long and hard about the location. Different areas of Spain vary quite a bit, and it is a good idea to visit various regions and see how the locals live before you make a rash decision.
Most people who move to Spain from the more northern European countries choose to live on the coast in a popular resort such as Javea, Marbella or Salou. The number of tourists visiting these towns in the summer means there are usually work opportunities in restaurants, hotels and bars; at least during the summer months. For those who do not need to work these resorts are seen as attractive places to live because they’re generally well geared up for foreigners and finding British groceries and getting UK TV set up is not a hard task.
The large expat communities also make these areas more appealing to those who worry that they may not be to fit in with the locals due to not speaking the language.
If being among your own countrymen does not appeal to you, you might want to consider moving to one of the larger cities such as Barcelona. Barcelona has a wonderful selection of shops, attractions and furthermore, it is also a city located on the beach with many miles of coastline to enjoy during the summer months.
Your budget will also determine where you can buy. Although property prices in Spain are still relatively cheap compared to 6 or seven years ago, they can vary greatly from one area to the next. Being prepared to live around 10 km inland will give you a lot more bang for your buck than if you insist on living in apartments Javea and other coastal towns have with a sea view.
To get an idea of the type of properties on the market, and the prices you can expect to pay, take a look at property for sale in Torrevieja, as this part of Spain is reasonably cheap, although by no means the cheapest area.
Why Invest In Spanish Property?
If you are looking to expand your property portfolio, now is a good time to invest in Spanish property.
Property prices in Spain plummeted in 2008, after 2007 saw them increase to unrealistic highs. In the following years, many property owners lost their homes as the worldwide recession hit the country hard and businesses were forced to close, causing job losses and hardship all over the country.
However, just like in all other markets, the Spanish property market will rise again after hitting a low. During 2013 prices remained steady with some areas enjoying a small increase in property values. This trend looks set to continue for the foreseeable future, which is excellent news for current homeowners and those thinking of investing.
Investing in Spanish property and achieving a good return on investment involves buying why prices are low and hanging onto the property until prices rise. Therefore, buying a Spanish property should not be seen as a way to earn money fast, but are rather as a long-term solution.