So you’ve decided to take the leap and buying in Spain… but where will you get the best deals?
Spanish Properties Marbella helps you to decide…
Buying a property abroad does not come without complications. First, you have to decide where your home in the sun will be located. It is without doubt that Spain offers the best in terms of proximity to other European destinations, climate, vibrancy and return on investment. Southern Spain has each of these key factors in abundance with the Costa del Sol ticking all boxes multiple times and the Costa Blanca coming a close second (the Costa Blanca may indeed offer a wider selection for those purchasers who are more budget aware).
The Costa del Sol is a 161km stretch of fine sands that runs from Málaga city to Gibraltar. This is a significant area with a huge degree of variety – not only in terms of views, facilities and property type but also price! Currently the average property price on the Costa del Sol is 312,000€. This has decreased from 350,000€ at the height in 2006 and increased from a low of 303,000€. (These figures clearly demonstrate that the great “crisis” did not actually have such a drastic effect on the local property market as previous reports may have indicated).
The fact that potential Costa del Sol buyers must take into consideration is the variation in price from one area to another. Of course, locations such as La Zagaleta which is home to Celebrities, Royalty and Politicians demands an impressive price-tag. Also, you would be hard-pushed to find a 2 bedroom apartment within the hustle and bustle of renowned Puerto Banús for under 500,000€, although it is possible to head just 5 minutes north where Nueva Andalucia offers more economical prospects.
Right now, there are some as-yet undiscovered gems that present fantastic opportunities, such as the marina-side town of La Duquesa where the average property currently sells for 159,000€. In addition, it should be easy to secure a sizeable property in Torremolinos which sits within a highly convenient distance of the airport with frequent train and bus transfers for 200,000€ (approx. £150,000).
Of course, there are other areas across the Costa del Sol that offer fantastic investment potential due to their surrounds rather than cost. San Pedro de Alcántara is a traditional Spanish town that has recently undergone a huge amount of development work to ensure that all parking is taken away from the main streets that offer a huge variety of Spanish delights. In addition the traffic has been redirected below the town with the construction of a sprawling boulevard above where tourists and families enjoy numerous parks, cafés and open-air events. San Pedro beach has always been one of the most popular attractions of the Costa del Sol and properties sell quickly here for these reasons.
The truth of the matter is that when you’re buying in Spain there is such a huge degree of variety that the right location for you can only be determined following a thorough consultation. The Spanish Properties Marbella team is a happy and experienced group of people who love to match the right buyer with the right place. Please feel free to contact us for a no-obligation consultation at any time.