Enchanting Spanish Real Estate
The real estate in Spain consists of the types of properties many people dream about buying their entire lives. Picture a sun-drenched white house with a shady courtyard, perched on top of a cliff in southern Spain. With the deep blue sea beyond and an olive grove nearby, it’s the stuff of which fantasies are made. Beaches…mountains…fabulous cities…cracking festivals. And, of course, guaranteed sunshine. It’s not surprising that southern Spain is the most popular region for Europeans seeking a second home in the sun.
Find Real Estate in Spain
Despite what you may have heard, there’s far more to Spain than golf courses and the concrete sprawl of look-alike apartments. Just venture a few miles into the Andalucian hinterland…into the far west… long the Bay of Biscay…along the Costa de la Luz and Costa Azahar. The “real Spain” is waiting for you. Almost unknown territory to foreign tourists, here Spanish mountain foothills are strung with citrus groves, and villages cling to a centuries-old way of life. But if you prefer modern comforts to rural simplicity, the Costa Blanca and Costa del Sol regions of Spain’s Mediterranean coast are among Europe’s best real estate investment bets. Such is the appeal of places like Marbella that the price of a home bought off-plan is often considerably more–around 30%–once completed. Many people buy and sell solely for that reason.
Buy Real Estate in Spain
How much for a property in Spain? Well, there’s a huge price variation across the 17 regions…and also from town to town within the regions. But while Spain’s real estate prices have almost doubled in the past four years, it’s still possible to unearth village houses and small coastal apartments for under $120,000. Look to regions like the Costa Azahar (Orange Blossom Coast), and it’s possible to find bargains such as 880-square-foot apartments for $118,000 and three-bedroom townhouses for $210,000. But take your time when shopping for a property in Spain. Some Spanish properties sell within a month, but others can linger on the market for a year–often because owners are seeking unrealistic sums.
To give you a ballpark figure, the average price that Spanish real estate buyers are paying to purchase modern homes with 1,200 to 1,400 square feet of living space varies widely by region:
*Rural Spain: $235,000
*Costa de la Luz: $252,000
*Costa Brava: $330,000
*Costa Blanca: $290,000 to $431,000 (north of Alicante is the most expensive)
*Costa del Sol: $390,000 to $625,000 (Malaga to Marbella is the most expensive)
*Majorca and Ibiza: $645,000.
Average prices for apartments:
*Madrid: $360 per square foot. Prime locations such as Salamanca, $725 to $890. For a 1,075-square-foot apartment, $386,000 to $860,000, and up
*Bilbao and San Sebastian: $320 per square foot. Prime locations, $780. For a 1,075 square-foot apartment, $344,000 to $810,000
*Barcelona: $360 per square foot. Prime locations: $710. For a 1,075-square-foot apartment, $387,000 to $750,000, and up
*Santander (Cantabria): $255 per square foot. Prime locations: $430 to $580. For a 1,075-square-foot apartment, $274,000 to $623,000
*Seville: $230 per square foot. For a 1,075-square-foot apartment, $247,000 and up
*Cádiz: $218 per square foot. For a 1,075-square-foot apartment, $234,000 and up
*Valencia: $175 per square foot. For a 1,075-square-foot apartment, $188,000 and up.
Learn more about real estate in Spain in IL Postcards.
Interested in real estate in a different destination? Then check out these similar pages:
|France Real Estate||Croatia Real Estate|
|Italy Real Estate|