Have You Missed The Boat For Buying A Cheap Spanish Property?
Have you been thinking about buying property in Javea? Perhaps the appeal of a warm Mediterranean climate and a wonderful laid back lifestyle is too strong to ignore? Spain offers one of the most interesting property markets in Europe in 2016, and combined with the strong pound sterling, it is little wonder that many people from the EU countries that do not enjoy such a warm climate are thinking about moving here as quickly as possible.
Although Spain has experienced some rough times, the country is recovering slowly but at a steady rate. Since 2014, Spain has experienced an annual growth of 1, 4%, according to the National Institute of Statistics. However, the same Institute declares that house prices experienced a reduction of 0.3% each trimester in 2015, which makes the Spanish property market the ideal vehicle for investment.
Deciding you want to buy in Spain is just the start of your exciting journey. The next question to ask yourself is what will be the perfect region of Spain to look for a property depending on your individual needs and lifestyle choices. Spain has many different areas to choose from, as well as diverse property types, so whether you are looking for a central city flat or a magnificent villa by the beach, you will find there a property in Spain that matches your needs and expectations.
Living In a Spanish City – Can You Afford It?
Worldwide, living in a city is expensive. In Spain there are however, some cities where you can still find a relatively low-priced property. In these cities the property market offers the investor excellent prices starting at an average of just€ 46.316.
Alicante, located on the extremely well-visited Costa Blanca, is an amazingly cheap city with a great climate. Here you will find numerous cultural and social attractions and house pricing averages €1,145 m², or €98,032 for a two-bedroom apartment situated in a non-prime location.
Likewise, Torrevieja in Alicante is a touristic town that is quiet off season, but offers an excellent lifestyle and, properties average just €505 per m². Prices vary depending on how close the property is to the sea and local amenities, but here you can find a property starting at around €46,000 for a three bedroom flat of about 90m².
Property Prices In Spanish Cities – Comparison Chart
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Another top city to buy in Spain for both living and investment purposes is Zamora, one of the most beautiful historical cities of Spain with the very modern commodities. Located in the Castile and León region of northwest Spain, Zamora is a small city with a population of around 66,000. The average price for an 82m² three bedroom flat in Zamora is around €43,000 or £35.000. This converts to around €518 per m².
There are many more great cities to check out, such as Lugo in Galicia, which is a city that offers an attractive standard of living and plenty of activities, and has an average housing price of €539 per m². Here you can buy a 72m², three bedrooms flat for around €45,000.
Is Buying A Spanish Property Complicated?
Buying a property Spain is a relatively easy process compared to buying in some other European countries, including the UK. Mortgages are usually available depending on your circumstances, and a system is in place that encourages overseas buyers. However, when you buy in Spain, as with buying any home, you need to do your research and consider the additional expenses. Contact us today, and we will advise you on all aspects of buying a property in Spain and get you on the right path to securing your ideal Spanish property.