The Costa del Sol is still one of the areas which offers investors in property the best return. According to the latest studies, people who invest in property on the Costa del Sol can still expect excellent value for money - 10% more than the average return on property in Spain. According to these figures, people investing in property on Spain's other costas - Costa Brava, Costa Cálida y Costa del Azahar - can also afford to be optimistic.
Another interesting statistic
is that prices of property in coastal areas are still much lower than prices in
the major Spanish metroplolitan areas (Madrid, Barcelona, San Sebastian...). So
mucho so that property in capitals of provinces like Cadiz or Castellon costs
half the price of property in other capitals.
Nevertheless, experts advise caution, because the property market in Spain is no longer the easy option. Buyers are advised to study the area they are considering buying property first before purchasing. The past few years have witnessed an unprecendented boom in the construction industry and some coastal areas, subject to speculation, already have a surplus of new and second-hand property. See figures on the price of housing in Spain in 2005.
In
2004 property in Spain has an average revaluation of 20% |
||
Province | euros/m2 | % increase in value |
Málaga | 1.660 |
29 |
Cádiz | 1.095 |
24 |
Gerona | 1.442 |
23 |
Tarragona | 1.296 |
25 |
Murcia | 1.156 |
26 |
Alicante | 1.341 |
19 |
Castellón | 1.007 |
20 |
Valencia | 952 |
22 |
Madrid | 2.593 |
19 |
Barcelona | 2.075 |
22 |
España (media) | 1.458 |
19 |
Source:TINSA |
||
Figures
at 30-6-2004 compared to overall figures for 2003. |
Other useful links | |
Latest news on the property market in Spain Selection of news articles related to the real estate market here. | |
Mortgages in Spain, a brief introduction to the Spanish mortgage market, how it works and interest rates in Spain | |
Spanish banks, before applying for a mortgage, find out more about Spain's most popular banks and Spanish savings banks. | |
Property taxes in Spain, description of taxes involved in purchasing property and yearly property taxes in Spain. | |
Useful Spanish vocab for buying a house - you should learn at least the basic terms. Check out our pronunciation guide too. | |
Renting property in Spain - if you want to buy to rent, then read this section and our free notice board of property to rent in Spain. | |
Spanish lawyers - information on lawyers fees in Spain for property transactions | |
Houses for sale in Spain - take a look at the kind of houses available. Or check out our free Spain property for sale board. |