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Property overseas: The gain in Spain is still plain, mainly |
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HOME >> NEWS >> Property overseas: The gain in Spain is still plain, mainly |
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April 15,2008
 For decades Spain has been prime territory for Britons buying overseas. But over the past year there has been much talk of it losing out to the new "emerging markets" further afield, in countries such as Bulgaria and Turkey.
It is certainly facing much stiffer competition. Nevertheless, it remains a hugely popular, tried-and-tested destination for buyers of all sorts, whether they are in the market for holiday or retirement homes, or pure investment. And although more people are now looking further inland, the Spanish coastline remains a big draw, not least because of its easy accessibility.
Which part of it you target comes down to personal preference, needs and bank balance. Not only are the various Costas very different; there is also a wide range of property on offer. "There is a great deal of variety to be found," says Martin Dell, of Kyero.com. "It is key that when looking to purchase, you decide what is important for you and your family and choose your costa accordingly."
Here, while the better-known costas - Blanca and del Sol - continue to attract the most attention from British homebuyers, others - Tropical, Calida and Verde, for example - may offer more attractive alternatives, particularly to those with a smaller budget. While house prices on the Costa Blanca average €245,000 (3 per cent less than the Spanish average), those on the Costa Verde, in the north, are €156,000 (36 per cent less than the average). Time, perhaps, to take a closer look at all the many and varied options.
Here, we give a comprehensive, property-buyer's guide to the whole Spanish coastline.
COSTA DAURADA
The Golden Coast consists of 216km of Catalonian coastline stretching south of Barcelona. Known as the Costa Dorada in Castilian, it boasts fine beaches and pretty coves with forested mountains and valleys in the interior. Salou is its only large package holiday resort and attractive small villages and ports such as Sitges are the norm. Being a Barcelona weekend destination pushes up prices. Comarruga, Torredembarra and Calafell are smaller, less expensive towns with beaches.
"The resorts have a traditional seaside atmosphere and are excellent for families, especially since the recent addition of the Universal Mediterranea theme park resort," says Andrea Lee of Select Resorts. "Inland, you are deep into the traditional Spain of market towns and tapas bars."
# Typical one-bed apartment: £110,000-£150,000; typical three-bed villa £200,000-£400,000
# Select Resorts: 01202 765011; www.selectresorts.co.uk
# Property in Spain: 0870 620 0034; www.propertyinspain.net
COSTA DEL SOL
The southern, "sunny" coast, located in Andalusia, has some of Spain's most costly coastal real estate, as well as some of its worst development excesses, with a nearcontinuous urban sprawl of high-rise development and resorts that include Torremolinos, Fuengirola and Marbella. "The Costa Del Sol has always been popular with the UK market, with its easy access and 150 kilometres of beach," says Lucy Russell, managing director of Quintessentially Estates. "The area's climate is the root attraction: it makes it possible to enjoy the beaches and a wide variety of outdoor activities all year round.
"It is not uncommon for investors to see surprisingly large gains in well-selected investments. In terms of where to invest, Marbella, the luxurious resort town, seems to have it all and is, once again, rising to the fore as a favourite location with the rich and famous, as well as ordinary folk who are willing to pay just a little bit extra for southern Spain's answer to St Tropez."
However, Jonty Crossick of Ready2Invest begs to differ: "The recent planning scandal of illegal permissions in Marbella means that complete confidence in the marketing of Marbella has been lost. This has practically brought the market there to a standstill."
# One-bed apartment: £50,000- £140,000; three-bed villa: £170,000- £750,000.
# Your Key to Spain: 0800 612 9578; www.yourkeytospain.co.uk
# Quintessentially Estates: 0845 224 3658; www.quintessentiallyestates.com
COSTA BLANCA
The Costa Blanca, more than 200km of Alicante province coastline, extends from Denia in the north to Torrevieja in the south and includes such shrines to package tourism as Alicante and Benidorm. Other popular resorts include La Manga, Playa Levante and Torrevieja. Rather quieter and more family-friendly perhaps is nearby Vilajoyosa. Head for northern Costa Blanca for upmarket villas, prettier landscapes and rural tranquillity, as well as a dramatic backdrop of high mountains and pretty villages.
"Busy towns and even busier beaches mean that privacy comes at a price - it is definitely not for you if it is the ‘real Spain' which excites you," says Rob Shaw at Spanish Algarve and Morocco Properties. "There has been an over-supply of properties in recent years and a price correction. The upside is that this means a good deal is easy to find."
Jonty Crossick of Ready2Invest says: "The purchasing frenzy that took place on the Costa Blanca in the late 1990s and early 2000s caused a stagnation of the resale market because many people who bought cheaply then now want to capitalise on their investment, resulting in a release of far too many properties on to the market at one time.
"People who bought at €60,000 five years ago want to realise €170,000 instead of evaluating their original investment, measuring a healthy return and cashing in. Slowly there is a realisation of this fact and the resale market is beginning to readjust itself."
Mark Gidalla of JVD Property says: "With eight months of the year already out of the way, 2007 has seen the property market on the Costa Blanca settle. Areas such as Javea and Denia have seen a decrease in sales but new emerging areas such as Pego and Jalon have seen an increase in exposure. The market is certainly quieter at the top end of the scale but the lower priced property is still a driving force.
"The decrease in sales has forced many property owners into the short-term letting market. We have been renting private villas for the last four years and 2007 has proven to be our best year to date."
# One-bed apartment: £55,000- £75,000; three-bed villa: £125,000- £180,000.
# Sunshine Estates: www.sunshineestates.net
# JVD Property: 01303 268488; www.jvdproperty.com
COSTA BRAVA
The "wild coast" in north-eastern Catalonia extends from Blanes, 60km northeast of Barcelona, to the French border. The climate is less reliable than the southern costas, and temperatures are about four or five degrees colder. Although some unattractive developments remain from the package-tour 1950s, strict planning laws in recent years means the coastline is much improved.
Behind sandy beaches, rugged cliffs and secluded bays, the interior includes the dramatic, snow-covered Pyrenees and valleys of orange groves. A "golden triangle" between Begur, Girona and Sant Feliu contains attractive traditional Spanish villages and quiet beaches.
The resort of L'Estartit has a pretty harbour and 15 kilometres of superb rocky coastline, while Tossa de Mar has an attractive town centre and a family-friendly beach. Lloret de Mar is the region's liveliest resort. Attractive fishing villages include Sa Tuna, Tamarin and Aigua Blava.
Access is excellent, with airports at Barcelona, Reus and Girona in Spain and Perpignan in France, as well as ferries from the UK to Bilbao, Santander, Calais and Boulogne.
# One-bed apartment: £120,000- £170,000; three-bed villa: £145,000- £390,000.
# Costa Brava Homes: 00 34 629 444 393; www.costa-brava-homes.com
COSTA DEL AZAHAR
The Costa del Azahar is the coastline of the provinces Castellón and Valencia and part of Alicante in Spain, from Alcanar to the Cabo de la Nao. Not only are there many miles of golden, sandy, uncrowded beaches but you can nip to the cities of Valencia and Castellon for a bit of culture and shopping. The region has largely been ignored by British and other foreign buyers. Naturelovers adore the Albufera, a vast freshwater marshland and lagoon.
It is often called the "orange blossom coast" because of the many acres of citrus groves that biannually perfume the region with orange blossom. Families like the resort of Cullera, while Benicàssim suits a younger crowd. Other popular towns include historic Gandia, Peñíscola, Denia and Xàbia. The Maestrat, a hilly rural region peppered with traditional villages, is a good source of restoration projects.
# One-bedroom apartment: £50,000-£90,000; three-bed villa: £80,000-£200,000.
# Carobtree: www.carobtree.co.uk
# I Want a Property in Spain: www.iwantapropertyinspain.com
COSTA TROPICAL
The Costa Tropical, the coastal section of Granada province, is less and less seen as part of the Costa del Sol, having a distinctly different character. Far more tranquil, it is characterised by mountains lying near or going into the sea.
The mountains have helped deter development, and along much of the coastline there are quiet beaches and villages, with the only large resort being Almunecar.
"Costa Tropical is an unspoilt region lying to the east of the Costa del Sol," says Craig Stocks of Eden Villas. "It is an agricultural area with pretty countryside and quiet beaches. We anticipate a rise in property prices.
"This is not an area of high rise, high density, but more relaxed. There is good steady capital growth and easy access from the UK, being located between Malaga and Almeria airports. In addition, Granada airport is easily accessible."
# One-bed apartment: £50,000- 100,000; three-bed villa: £85,000- £280,000.
# Eden Villas: 01382 585 457; www.edenvillas.co.uk
COSTA CALIDA
The 250km-long "warm coast" (from El Mojón in the north near the province of Alicante, to near the municipality of Águilas in the south bordering Almería province) gets its name from its micro-climate that brings comparatively hot mean annual temperatures and low rainfall. It basks in more than 3,000 hours of sunshine each year.
The northern end of this coastline of gorgeous white beaches and lush countryside includes the bustling La Manga resort and the Mar Menor, the largest saltwater lagoon in Europe, which is always several degrees warmer than the Mediterranean.
An excellent road network means Alicante is 45 minutes away, and a new motorway goes to Cartagena. The expansion of Murcia airport improves access, and Alicante and San Javier airports are also options.
"There are no major drawbacks with the Costa Calida," says Chris Mercer of Mercers. "Prices are relatively low, it is easy to get to, not overdeveloped and has plenty of new golf courses coming on line. That said, the coastal plain is very arid."
# One-bed apartment: £70,000- £140,000; three-bed villa: £90,000- £300,000.
# Mercers: 01491 574807; www.spanishproperty.co.uk
# Casas de Lorca: 0844 734 8057; www.casasdelorca.net
COSTA ALMERÍA
Bordering Granada and Murcia provinces and sandwiched between the Costa del Sol and Costa Blanca, the 120km-long Costa de Almeria boasts large stretches of empty white beaches and comparatively inexpensive properties. Many believe it to have Spain's best climate, with hot, dry summers and mild winters.
Although it contains Europe's only desert and several protected national parks, some overdevelopment exists, especially around Roquetas de Mar, Aquadulce and Almerimar. But the authorities are not allowing new developments to be more than three storeys high. Quieter towns and villages include the resort of Mojacar, Vicar and Enix.
Almeria airport is now served by the low-cost airlines, boosting British buyers, and the revamped airport at Murcia will help further.
# One-bed apartment: £85,000- £140,000; three-bed villa: £100,000- £250,000.
# Spanish Venture: www.spanishventure.co.uk
# Ready2Invest: 01273 627900; www.ready2invest.co.uk
COSTA DE LA LUZ
The "coast of light" in the far southwest of Andalucia extends from Tarifa to the border with Portugal. Long popular with holidaying Spaniards, it is considerably less developed than the Costa del Sol although increased development in recent years has brought some environmental degradation.
A coast of sand dunes and windswept marshes is fringed with pines and eucalyptus groves and wildlife parks. Inland are sleepy, tranquil villages. The coast has a reputation for being very windy.
"A traditional and beautiful area, it is largely unspoiled by mass tourism and has some of the best beaches that Europe has to offer, so extensive that they seldom become crowded," says Rob Shaw, marketing manager of Spanish Algarve & Morocco Properties. "Those tired of overdevelopment in the Mediterranean costas are drawn here - but it will not appeal to those looking for a ‘home from home' lifestyle.
"Flights from northern Europe are easy to come by. The best routes are to Faro, Seville or Jerez. Do not consider the Costa de la Luz if you are not prepared to learn some Spanish and integrate with the local community. However, property prices are well below the national average."
Chris Mercer, managing director of Mercers, says: "A new flock of buyers is moving into the costas that offer ‘real' Spain and better value for money - such as the Costa de la Luz and especially Jerez. Prices are so much lower in Jerez because there is no marketing hype for this area."
# One-bed apartment: £90,000- £160,000; three-bed villa: £130,000- £230,000.
# Spanish Algarve and Morocco Properties: 0870 004 6041; www.spanishalgarveproperties.com
# Mercers: 01491 574807; www.spanishproperty.co.uk
COSTA VERDE
Brits desiring lush countryside, not too much sun and even smatterings of rain should consider the "green coast". The coastline of the Asturias, between Cantabria and Galicia, is often ignored by British buyers. Yet it is perhaps the cheapest of the costas, with old stone houses for renovation on sale from under £25,000; and stunning, wild countryside inland from its beaches. Main coastal towns include Gijon and Llanes; Oviedo, the capital, is a little way inland.
# One-bed apartment: £45,000- £120,000; three-bed villa: £80,000- £325,000+
# Costa Verde Properties: 00 34 982 166183; www.costaverdeproperties.com
HOW TO BE FLY IN SPANISH: BUYER'S TIPS
# Most importantly, take the time to find a good solicitor. He/she should verify the property is owned by the vendor and has no tenants or debts; registered boundaries and measurements are accurate; no adverse development is planned nearby; building permits and planning permissions are in order. Have each conveyancing stage explained to ensure they make all the necessary checks. Do not rely on a lawyer recommended by the estate agent
# Visit an estate agent in person, ask lots of questions and back out if your instinct raises suspicions about their business
# Some estate agents may pressure you for a goodwill deposit to take the property off the market while you decide. Only pay if you are certain you want the property as you will lose the deposit if you withdraw from the sale
# For resale properties especially, commission a survey although these can be a rarity in Spain
# Pay for translation of important documents into English if required
# Consider renting in an area first to be sure it is right for you
# Do not rely on the notary handling the sale. He/she represents the state and does not protect the interests of the buyer or seller
# If buying new, ensure that the builder/developer has an insurance policy or termination guarantee to protect your investment should he or she go bust before completion
Four Spanish sizzlers now on the market
€5.9M
Costa del Sol
A grand pile in Sotogrande, near La Riserva golf club. Mod cons include irrigation system, home cinema, guest wing, sea views and infinity pool. Quintessentially Estates www.quintessentially.com
€256,400
Costa Almería
Santa Ana is part of the Mundo Aguilon golf resort, surrounded by protected national parks and close to the sea. Lawrence of Arabia was filmed nearby, excitingly. Ready2Invest www.ready2invest.co.uk
€329,000
Costa Calida
Casas Mallorca is a development of fourbedroom, three-bathroom villas, set on a rugged Murcia hillside just inland from the coast. Casas de Lorca www.casasdelorca.net
€350,000
Costa de la Luz
A chic bodega conversion in Jerez de la Frontera. Two bedrooms, large open living area, swanky kitchen in which to sip the region’s signature tipple. Mercers www.spanishproperty.co.uk
Source: http://www.telegraph.co.uk/ |
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