I’m sitting in the plaza mayor with friends, sipping a chilled beer and nibbling jamón serrano—slices of cured ham similar to prosciutto. Its 7 p.m. on a summer evening and the shadows are lengthening. The sun won’t set until nearly 10 p.m. That gives me plenty of time to stroll the cobbled streets, take a hike in the hills near town…or just sit here in the plaza watching the world go by.
I’m in Cuenca, a provincial capital less than an hour by train from Madrid. For budding expats who dream of living in Spain, provincial cities like Cuenca are a great option. Easily a dozen sit within 90 minutes of Madrid. And in them you can enjoy a relaxed, inexpensive lifestyle in a scenic setting. When you want the bright lights and big city, just catch the train or bus to Madrid and spend the day in one of Europe’s most exciting capitals.
Cuenca lies east of Madrid in the vast region known as Castilla-La Mancha. Founded by the Arabs, this city of 56,000 boasts a dramatic setting. The old city lies on a spur of hill surrounded on three sides by gorges that drop hundreds of feet to the valley floor. The cream- and dun-colored buildings—the same stone as the gorge walls—seem to grow right from the rock. So steep is the city that some medieval houses, which cling to the cliffsides, are up to 13 stories high. They have one entrance on one street and a second entrance on a lower street, perhaps a hundred feet below.
I’ve visited Cuenca off and on for over 20 years and lived here for a while in the 1990s. For decades—including the years I lived here—Cuenca was an international artists’ Mecca. About 15 years ago, though, Cuenca set its sights on the tourism industry. The city built a new performing arts center and several new museums. It repaired the medieval streets of the old city and offered incentives to home owners to renovate their crumbling homes.
Appealing
Today the city looks clean, well-renovated, and appealing. Professionals from Madrid are starting to buy homes in Cuenca for weekend escapes and holidays. A modern motorway makes the driving time less than two hours. And just last December, a high-speed train was inaugurated, putting Cuenca just 50 minutes from the capital.
The city has always been popular with nature lovers. And no wonder… From where I sit in the plaza mayor, I’m just a few minutes’ walk—through a medieval archway and down a cobbled stone staircase–to the tranquil, poplar-lined Júcar River. I go here almost every day, joining the locals. In the long, late afternoons, women walk their dogs on the sandy path beside the Júcar, while their husbands line the riverbank, leisurely casting for trout. Their teenage children whizz past on mountain bikes, heading into the hills, or swim off the fresh-water “beach” at the riverside sports club. (A day’s pass costs less than $6.)
For shopping, you can wander the stalls of the traditional market or go to several modern supermarkets. Fresh local fruit, vegetables, and bread cost no more than you’d pay in the U.S., and often less. Meat is pricier—but offerings include mouth-watering local specialties like boar, venison, quail, and Spain’s famous cured hams. Spanish staples like olive oil and wine are cheap—a liter of good olive oil costs about $3 and a bottle of decent wine about the same amount. (I’ve even found very quaffable, five-liter wine boxes that worked out to about $1.40 a liter.) And the menú del día in many restaurants around town runs from about $14 for a two-course lunch with wine up to $21 for three courses at Los Arcos, my personal favorite.
Long-term apartment rentals in Cuenca start at about $500 a month. If you’re looking to buy, you can find a good selection under $200,000.Of course, you must first lay aside your U.S. notions of space: Spanish apartments average about 650 square feet. But to compensate, the space is generally well laid out…and after all, life in Spain is lived in the street. Modern apartments in the new part of town are available for $100,000 or less. If you want tradition, look for renovated properties in the old neighborhoods: the barrios of San Antón, Tiradores, and, of course, the old city—the casco viejo.
Traditional
In up-and-coming San Antón you can find properties for well under $100,000. I saw one 484-square-foot property there listed for just under $89,500. A traditional-style but modern one-bedroom apartment there of 463 square feet, not counting a separate storage area, was for sale for $136,000.
Not surprisingly, properties in the casco viejo cost the most (as much as $300 a square foot, though prices vary wildly depending on location and condition). But I saw one real bargain. The apartment lacked the much-prized views of the gorges and valleys, but it was right behind the cathedral in the plaza mayor. It makes a perfect pied-à-terre in Cuenca for part-time expats and would be a great rental property.
With only 377 square feet, the apartment is impeccably renovated, with exposed wood beams in walls and ceiling and a modern kitchen. Even better, its asking price of $152,000 includes a downstairs space of the same size that can be rented out for parties…or even built out as a bottom story to double the apartment’s size (see here). With Spain’s current economic crisis, many families have been forced to put properties in the casco viejo—which are generally second homes—on the market. If you’ve been yearning for a little place in Spain, you’ll have more to choose from now than you’ve had in years.
Residency a la española
Spain allows U.S. and Canadian citizens to stay as tourists for up to 90 days out of every six months. If you want to stay longer or live full-time in Spain, you must apply for a residence visa.
Madrid-based lawyer Margaret Hauschild Rey says that, for residency, you need to show a clean police record from the country where you live now, submit copies of your passport, and, most importantly, show that you have the funds to support yourself without working in Spain. At present that means €2,131 a month for an individual—about $3,000. In addition, you need €532.5 (about $767) for each dependent.
Spain also offers work/residence visas for those who want to start a business. If you have a Spanish parent or grandparent, take note: If you apply by December 27, 2011, Spain will grant you Spanish citizenship, even if you’ve never lived in Spain.
For more details, email Margaret: info@bennetrey.com or visit the website here.
Your Own Piece of Ancient Spain from $89,500
Modern apartments in the new part of Cuenca are available for $100,000 or less. If you want tradition, look for renovated properties in the old neighborhoods: the barrios of San Antón, Tiradores, and, of course, the old city—the casco viejo.
In up-and-coming San Antón you can find properties for well under $100,000. I saw one 484-square-foot property there listed for just under $89,500. A traditional-style but modern one-bedroom apartment there of 463 square feet, not counting a separate storage area, was for sale for $136,000. Another property—a house—is also listed in San Antón. Fully furnished, with three bedrooms and one bath, the house also has a separate storage area and a terrace in 893 square feet. The asking price is $126,000.
Tiradores is a traditional barrio of steep, often pedestrian-only streets, yet it’s just a few blocks from shops in the modern part of town. Here, an apartment was recently for sale in the street of Tiradores Bajos B. The sunny, 678-square-foot apartment has been fully renovated and has two bedrooms and one bath. The asking price has recently been dropped 20%, to only $100,800.
Not surprisingly, properties in the casco viejo cost the most (as much as $300 a square foot, though prices vary wildly depending on location and condition). But I saw one real bargain. The apartment lacked the much-prized views of the gorges and valleys, but it was right behind the cathedral in the plaza mayor. It makes a perfect pied-à-terre in Cuenca for part-time expats and would be a great rental property.
With only 377 square feet, the apartment is impeccably renovated, with exposed wood beams in walls and ceiling and a modern kitchen. Even better, its asking price of $152,000 includes a downstairs space of the same size that can be rented out for parties…or even built out as a bottom story to double the apartment’s size.
Also for sale is a one-bedroom, one-bath study right in the heart of the casco viejo. It lacks wood beams and other design details, but its asking price is only $84,000. With Spain’s current economic crisis, many families have been forced to put properties in the casco viejo—which are generally second homes—on the market. If you’ve been yearning for a little place in Spain, you’ll have more to choose from now than you’ve had in years.
Glynna’s real estate contacts in Cuenca
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