While the British property market struggles, prices in Spain continue to rise at nearly 7%, according to EU data released today. So where should you put your money?
Last year the Costa Brava saw a significant escalation in sales volumes compared to 2016.
Property prices in Catalonia have fallen recently, perhaps due to the push for independence. Head on a viewing trip there and you will discover that many properties are cheaper than last August. Barcelona still commands high prices, but even here there are bargains to be found and if you are considering buying to invest Barcelona is still amongst the top cities in Spain. The Catalan coast is always popular with Spanish people and overseas buyers. Last year the Costa Brava saw a significant escalation in sales volumes compared to 2016.
Both Seville and Málaga are expected to see a growth in property sales in 2018. Until now these cities have not seen the increase in prices experienced in Madrid and Barcelona, but are seen, nonetheless as having great potential. Seville was named the best European city to visit this year by Lonely Planet, which can only boost property sales. Málaga was nominated the best place to live in Spain in 2014 thanks to large-scale investment in its infrastructure. It continues to appeal to a large variety of purchasers and renters.
The Basque Country is one of Spain’s most prosperous regions and attracts buyers from all over the globe. Bilbao is one of Spain’s most important cities and properties on its perimeter are proving increasingly popular for both investors and those buying a home.
If you are looking to buy a home in Spain in the near future, come to Your Overseas Home in London, Manchester and Glasgow this spring. There will be legal and currency specialists, plus gorgeous Spanish homes for sale.
San Sebastian is another city worth considering. It is one of the most expensive cities in Spain as far as the cost of living goes, but has a flourishing restaurant and tourist sector and people are always seeking affordable accommodation. A small apartment here could be an excellent investment.
Tenerife saw price increases in 2017 and this trend should continue. A holiday island with wall-to-wall sunshine, it’s proving very popular with overseas investors. Tourism on the island has been growing for many years and returns on rental property here are high. Beware though, if you intend to rent out your property to tourists you must ensure that it lies within a community which permits you to do so.
The city of Almeria sees prices at roughly half the cost of Spain’s national average, which makes it a very attractive investment proposition. It is a traditional Spanish city with a long and interesting history, a very pretty old town, a port and lots of culture on offer. The province of Almeria is particularly popular with British people and although not overly touristy, Almeria city could be a good place in which to invest your money.