The British love affair with buying property in Spain may have lost some of its sparkle over the past year or so, but some qualities continue to shine through – the gorgeous climate, property is cheaper than in the UK and plenty of fantastic facilities in many of the major resorts. Buying property in Spain is still an aspiration for a large number of British property buyers.
The archetypal home for those buying property in Spain from the UK is probably a villa or apartment close to one of Spain’s fabulous beach resorts. Each region, costa and island has its own distinctive character and there is a huge variety of property for sale to suit most budgets.
While the rise of the euro has made buying property in Spain and the cost of living more expensive to the British, it is still good value compared with property prices at home. Prices of property in Spain have begun to stagnate recently, which is good news for prospective property buyers as sellers discount their asking prices to secure a sale. Investors will see an opportunity to acquire a property in Spain at a good price in the expectation that in the long term, a high-quality home in a popular location will make investing in property in Spain a good bet over the coming years.
More intrepid buyers of property in Spain are looking at other options away from the traditional destinations. The deserted beaches and unspoilt landscapes of Galicia have plenty of properties at very reasonable prices, and busy commercial cities along the northern coast such as Bilbao, Pamplona and Santander are attracting business and tourism, increasing their appeal as property investment areas.
As a lifestyle location, Spain is hard to beat for climate and amenities, and there are countless low-cost flight options from all over the UK. Buying property in Spain still offers long-term appeal as a holiday, retirement and investment property.
Key Facts
Population: 40,491,051
Capital: Madrid
Languages: Spanish (Castilian), Catalan, Basque, Galician
Area (km2): 504,782
Currency: euro
Exchange rate: £1 = €1.25
Dialling Code: +34
Emergency services: 112
Embassy in UK: http://www.mae.es/Embajadas/Londres/en/Home
Health
The Spanish healthcare system has improved dramatically over the last few years and generally has a reputation for being excellent. Even if you should choose at any time to go private, it will cost a fraction of what it would in the UK
Travel
The cheapest and quickest way to get to Spain is to fly. The majority of destinations on mainland Spain are only two hours away and there are plenty of budget flights available year-round to most regional airports. Charter flights can also offer good deals in high-season, especially to the Canary Islands
TOP TIP
The much-publicised land grab scenarios are, for the most part, a thing of the past. However, it is vital that thorough checks with the land registry are carried out, and the issue of title is made clear from the start
The Homes Overseas Guide to Buying Property in Spain has advice on the legal and financial aspects of buying a property in Spain, plus regional overviews and information on the process for buying property in Spain.
Read our articles about buying property in Spain:
as well as our overseas news stories affecting the Spanish property market or view our range of property for sale in Spain.