If you are looking to buy a holiday property in Spain, you are spoilt for choice. Spain has established itself as a major global tourist destination over the last 50 years or so, and many owners of second homes and holiday properties come from Britain and elsewhere in Europe including Germany, France, Italy and Sweden.
Spanish towns, villages and seaside resorts bring something unique to the international real estate market, so no wonder people dream of retiring here! Interestingly, according to a recent report, “in spite of Brexit, the British continue to lead the field in buying a second home in Spain.”
Of course, investing in Spanish real estate is a choice driven by your lifestyle and budget. As a cash buyer, you have the most options but there are other ways to finance the purchase of a holiday home. “With a British expat population of over 200,000, getting a mortgage for a Spanish property is certainly a realistic option for many UK buyers,” advises one specialist broker. And it is even possible to use some of the equity released from your UK home to buy a second home in Spain.
But where in Spain should you be looking to buy? Some areas are better than others for buy-to-let potential, while areas where the infrastructure is still developing may return a healthy profit when you come to sell. Let’s take a closer look at three of the best areas you can invest in.
Budget buys in Murcia
For Spanish property buyers looking for a bargain, consider Murcia. Located between the provinces of Valencia and Andalusia, the area is known for its wine and olive oil production and is a major Spanish fruit and flower growing region.
Rural inland communities offer the lowest prices per square metre and Murcia is an emerging area with plenty of potential to develop. There’s a coastal saltwater lagoon, the Mar Menor, and 250 kilometres of relatively undiscovered beaches on the Costa Calida, which means ‘warm coast’ on account of the warm water temperatures compared to the surrounding Mediterranean. Maybe that’s why Murcia is “the undisputed hotspot for British retirees,” as this article claims?
Murcia is famous for its tapas, particularly in the gorgeous beachside destinations of San Pedro del Pinatar and Mil Palmeras, La Manga del Mar Menor, Cartagena and Mazarron. And with more than 3000 hours of sunshine guaranteed every year, this could be your dream location for authentic year-round living without the tourist crowds.
Easy to get to from Corvera airport and located on Spain’s south-eastern coastline, Alicante is a perfect mix of modern and traditional influences boasting palm tree boulevards and stunning beaches. The name is derived from the Arabic for ‘city of lights’ and it is a highly popular destination for foreign house buyers. 19% of the population are non-Spanish, and 20% of them are British.
As a destination, it’s easy to get to all year round, with a mere 30-minute transfer time from Alicante – Elche Miguel Hernandez Airport to the city centre. The pleasant climate ensures mild winters, which makes Alicante the perfect all-season location.
Buying a property here means tapping into a balmy outdoor lifestyle, the delicious local cuisine and plenty of cultural heritage. Alicante Old Town is the place to go for traditional Spanish restaurants, while restaurants around the harbour serve time-honoured seafood dishes that are a must-try.
In terms of leisure activities, there’s a wealth of choice for everyone, including the young and the young at heart. If you’re into watersports including jet skiing and surfing, or a keen golfer, this is the place for you. Playa Del Postiguet, San Juan, and Albufereta are the most popular beaches, with local transport connections available between them.
You won’t be surprised to see Andalusia on the list of popular Spanish holiday destinations. As a pioneer of tourism from the 1950s onwards, this southern Spanish region including the seaside resorts on the Costa del Sol have proved themselves as firm favourites for foreign house buyers.
Andalusia is known for its hot, dry summers, which makes it the ideal beach holiday location. The Costa del Sol has miles and miles of glorious sandy beaches, many of them blue flag designated. Expect to find the hub of tourism around Marbella, Manilva, Torremolinos, Fuengirola and Nerja. The region is renowned for its local fish and seafood cuisine, which is a must-try, whether you are on a short-stay visit or have decided to settle here.
For those looking for urban lifestyles, the big metropolises like Malaga and Seville have excellent art & cultural offerings, great shopping and nightlife to boot. Alternatively, if you want to head away from the crowds, choose offbeat locations such as Cordoba and Jaen.