Top Places to Invest in Spain
“Over £6 billion has been invested in Spanish property, accounting for 27% of British foreign investments” (Office of National Statistics).
An online article from Kyero.com, one of Spain’s leading property portals, looks at Britain’s favourite holiday and investment location and points out some property “hotspots”.
In 2005, a staggering 13,864,000 UK tourists visited Spain, proving that the country is still by far the most popular holiday destination in Europe for the Brits. Ever since 1994, Spain has been the number one choice with UK holidaymakers.
It’s not just for holidays though. Every year more and more Britons are packing up and heading off to the sunshine – for good. Spain already has a huge UK expat community, and it’s growing.
The Spanish Property Market
Although Spain is seeing mounting competition from emerging markets in Eastern Europe, like Bulgaria, Romania and Croatia, it’s debatable how much of a threat these places really are…
Being an established and mature market has certain advantages. Spain offers low interest rates and sustained long-term growth. Emerging markets on the other hand are infinitely less predictable and much more of a risk.
Another very obvious advantage is the climate. Spain clearly has a much better climate than Easter Europe. On the Canary Islands, for example, investors benefit from year round rental yields.
Spain is a massive country. It has everything – beaches, sunshine, nightlife, cuisine, beautiful islands, a high standard of life, good healthcare and education, highly cosmopolitan communities, a relaxed way of life, vast spectacular landscapes and every type of sport imaginable.
Quite simply. People love Spain. It’s hard to know if these new Easter European markets will eventually establish the same kinds of UK expat communities that exist in more established and well-known markets like Spain and France.
Popular Locations
Malaga, Granada and Alicante are the most searched areas on the Internet, according to Kyero.com.
However, they also point out that, Almeria province is one of the areas in Spain is where property prices are still well below the national average. It also has strong capital appreciation and rental potential.
Spain’s Canary Islands, off the coast of North Africa offer excellent rental potential, largely because of the year round sunshine and warmth.
Featured Location – Almeria
Almeria Province in the south west of the country is spectacularly beautiful – a vast desert like landscape with polar blue skies, intense light and amazing beaches. Numerous spaghetti westerns have been shot here because of the similarities with America’s wild west.
It’s a top scuba-diving spot and just a short drive away from the ski slopes in the Sierra Nevada.
The landscape is dotted with small coastal villages and picturesque towns. Mojacar, still relatively unknown, is one of Almeria’s best-kept secrets.
The province is gradually becoming more popular; there are now plenty of new hotel resorts and golf developments. You can now fly direct to Almeria via Easyjet, Ryanair, Monarch and Flybe.
It’s still untouched and undeveloped compared to neighbouring Malaga and this is why property prices are lower. It will however, continue to expand as it becomes more popular and prices will no doubt increase but for the moment it remains good value for money and a very nice part of Spain to live.
Tenerife (Canary Islands)
The Canaries are often described as the “last paradise isles in Europe”. Blessed with year round sunshine ane warmth, they’re also home to some of Spain’s most dramatic and diverse natural landscapes.
Volcanic in nature, Tenerife is spectacularly beautiful – home to lush green forests, Volcanoes, epic cliffs (Los Gigantes), Mount Teide’s snow capped peak, white sandy beaches, black volcanic beaches, endless nightlife and some very affordable properties.
Tenerife and the other Canary Islands are the only genuine winter sun destinations in Spain. Temperatures in the archipelago, rarely fall below 18C or rise above 25C. The climate is described as being like “Perpetual Springtime”. It’s always peak Season here, so you can rent out your property to holiday Makers at any stage of the year at peak season prices.
The island is very popular with UK tourists and homebuyers. There are many reputable English speaking estate agents in Tenerife that can help you find your piece of Canarian paradise.