Picture a sun-drenched, white house with a shady courtyard, perched on a cliff-top site in 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 Spain is the most popular country for Europeans seeking a home overseas.
There’s far more to Spain than golf courses and a concrete sprawl of look-alike apartments. Venture a few miles into the Andalucian hinterland, into the far west, along the Bay of Biscay and along the Costa de la Luz and Costa Azahar. The “real Spain” is waiting for you.
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- Population: 47,370,542
- Capital City: Madrid
- Climate: Temperate; clear, hot summers in interior, more moderate and cloudy along coast; cloudy, cold winters in interior, partly cloudy and cool along coast
- Time Zone: UTC+1
- Language: Spanish
- Country Code: 34
Salud! Ching, Ching! These three words are so simple, yet they hold so much meaning. Friendship, happiness, and a lifetime of health—that’s what we toast to as we raise our sparkling Catalan cava to the blue sky. A refreshing glass of sparkling wine is just what the doctor ordered to celebrate this sunny day with friends in Sitges.
I’d probably been trying to learn Spanish for a good year or more before I had a sudden realization that dramatically and instantly changed my attitude—and had me picking up new words faster than ever.
Spain is one of my favorite countries. It’s both a fascinating destination to visit and a great place to live (and I’ve done both). So when people ask me what’s so great about Spain, I can list a lot of advantages off the top of my head. But to get you started, here are my top five reasons why Spain is a great place to live:
I arrived in Alicante planning to stay just a few months, thinking I’d wait out Spain’s scorching summer months here beside the city’s languorous stretch of Mediterranean coastline, a chance to relax and recharge before returning to a larger city. My German landlord eyed me dubiously. He’d moved here almost a decade ago, planning to stay just one year.
I’ll admit it: I’m a sucker for traditional food markets. I seek out farmers’ markets in the U.S. and traditional food markets when I’m abroad. Belize, Mexico, Peru, Ecuador… I’ve explored markets in all these countries, thrilled at the colors, the smells, and the variety of wares, many of them exotic local fruits, vegetables, and more. And, of course, I’ve explored many markets in Spain.
I go to Spain whenever I get the opportunity; this is my third vacation there in the past five years. This time I’ll head to the North of Spain…to the little-known but very affordable region of Galicia. Previously, I’ve visited artistic Barcelona, historic Seville, and sun-soaked Malaga…three cities with their own distinctive characteristics, appeals, and benefits—and I’m anxious to follow up this vacation with another soon, to picture-perfect Valencia, the bull-running city of Pamplona, and the traditionally preserved hillside towns of Cuenca and Ronda.
With almost perpetually sunny weather, glittering stretches of Mediterranean coastline, and a relaxed, easygoing lifestyle, Spain has long been a favorite playground for Americans on vacation. But plenty of business-savvy Americans are extending that vacation into a way of life, and making a prosperous living here, too. In a country where even the Prime Minister struggles to speak English, locals are only too aware of the need to improve, meaning native speakers can easily find work as English teachers and translators.
Pundits are divided on whether Spain’s property market will see further price falls. A huge overhang of unsold homes remains, but for the first time in seven years, sales in Málaga province showed an increase in 2013. Spain will always be a popular retirement destination for northern Europeans, and the number of U.S. citizens registered as living in Spain has increased, too.
It’s a little embarrassing to admit but…I knew barely a word of Spanish last year when I arrived in my new home in Spain. I had plenty of time to prepare for the impending relocation but I’d busied myself working full-time and, like lots of other native English speakers, the few Spanish classes I did take just didn’t seem to stick.
Most North-American tourists to Spain visit Madrid, Barcelona, and perhaps Andalusia’s Moorish Triangle—Seville, Córdoba, and Granada. Relatively few get over to Valencia, the Mediterranean-port city that is Spain’s third-largest metropolis. And that’s a shame. Because Valencia has a lot to offer, as I recently had a chance to discover.
On a crisp, cool morning I met several Spanish friends next to a golden brick church in Salamanca, Spain. We were on our way to tour a bodega, a local winery, in Castile Leon. After a tour of the facilities, a cozy dining hall with dark-colored wood and long tables bedecked in white linen awaited. This homey room had been set aside just for the group to try more wines not available at the tasting, accompanied by rich, savory Spanish cuisine.
Steeped in memories of Moorish Al-Andalus, the narrow streets, shady gardens, and stunning architecture of Granada make it one of Spain’s most iconic cities. In the Realejo, the old Jewish quarter, a refurbished 913-square-foot apartment close to Campo del Príncipe (which has some wonderful tapas bars) is reduced from $162,000 to $134,000.
Two kisses: one on the right and one on the left. That’s how friends, relatives, and even acquaintances greet each other in Spain. It’s a daily reminder of how warm, friendly, and gentle the people are here. And that’s the best part about living in the land of the setting sun: the Spanish people are amazing.
If you’ve ever ordered fried anchovies and a glass of nuttily-sweet sherry at 10 a.m., did people stare at you like you’d gone mad? If so, then you should move to Arcos de la Frontera—a small white town clinging to the hills of Andalucia in southern Spain. (If not, you should still think about moving there…)
Thanks to Europe’s financial and economic crisis, you’ll find some of the best real estate values in the best parts of Europe right now—and some of the best opportunities to profit. Specifically, the deals are to be found in Ireland, Portugal, and Spain. These places were hit hard by the crisis—and pricings finally reflect that.
When it comes to hedging against dollar debasement, few things have performed better than gold. Holding some physical gold might just qualify as the very definition of “preparing for the worst.” But even though the historical case for gold is strong, the raw supply/demand case for platinum and palladium might be even stronger.
What’s not to love about cultural riches and cobbled charms? Throughout most of Europe, the property market remains in the doldrums, which means you can find bargains. From the Atlantic to the Mediterranean…from Ireland to Greece, there’s a tempting array of move-into properties that will leave you change from €100,000 ($137,000).
It’s called the “Old World” for a reason, and despite two world wars and decades of development, history is evident in the architecture of Europe. You can stroll cobbled streets where lords and ladies once rushed to galas, climb castle steps in the footsteps of armored knights, and explore villages preserved for 500 years or more.
Just walking down Málaga’s Calle Larios can lift the spirits. This pedestrian-only street at the heart of Málaga’s historic center is lined with shops and cafés that draw the eye. Overhead, several stories up, canopies strung across the street shade you from the bright Mediterranean sun.
I ’m putting my three-day weekends in Europe to good use. I’ve visited Germany, Britain, Belgium, Ireland, Sweden, Portugal, and the Netherlands…all from my Spanish base in the beautiful city of Salamanca in the region of Castile and Leon. Everywhere I go, I seek out cheap places to stay, eat, and play. I love traveling and my job gives me the opportunity to do so while still making some money.
Visit the old royal capital of Kyoto, Japan, the weekend of June 1 for Takigi O-Noh to celebrate Japan’s ancient musical-theater traditions at the city’s Heian Jingu Shrine. Burning torches illuminate the stage and the costumed performers. Across the East China Sea, the Dragon Boat Festival in Xiamen, China, falls on June 2. Gorge on sticky-rice snacks, watch the race, and place a rice parcel in the water in memory of ancient poet Qu Yuan.
You’ve just weighed anchor on another night of bliss, lulled to sleep by the gentle rocking of your sailboat in the calm sea. Before you is a small cove lined by craggy cliffs. Clear blue waters end at a white-sand beach. You’ve had it all to yourself for the last week. It was supposed to be just an overnight stop. But it was so beautiful, you decided to stick around. After a quick dip, you’re enjoying a cup of coffee and a light breakfast on deck as you contemplate which island paradise you’ll go to next.
Five months ago I spent two weeks scouting through Thailand—most of that was spent in Chiang Mai, for that is where the opportunity lies. This is a complicated market, as I explain in a special edition of Real Estate Trend Alert—ready to download here.
In this special edition, you’ll also discover… How to profit from inefficient markets… The condos in Medellin, Colombia that you should avoid… And lots more…
Six months ago, Lester Herrera, 31, was unemployed in the San Francisco Bay area…a victim of “down-sizing”, despite having a business degree from USC. He had been laid off from a non-profit organization where he worked as a career counselor. After several attempts at finding another job, he decided to retire early…to Spain.
From 1993 to 1999, I traveled and lived all over the world. And during that time, I got to experience wonderful places like the white-sand beaches of the British Virgin Islands…the cafes of Aix-en-Provence, France…the wild summer parties of Corfu, Greece…the exotic culture of Bali, Indonesia…and more.
Begin the month in Scotland’s Spey Valley where, as part of “Whisky Month,” the Spirit of Speyside Festival runs from May 1 to 5. Tastings, workshops, and even a guide on how to properly photograph a “wee dram” of whisky are all on the schedule.
Towering sand dunes, an expansive, golden-sand beach that goes on for miles, kite-surfers battling the strong, but warm, Atlantic wind…although Spain’s tourist hub of Marbella is just 63 miles to the east, here at Punta Paloma it feels a world away.
There’s no question…Barcelona is fabulous. A mild Mediterranean climate; attractive urban beaches; a vibrant cultural scene; lively street ambience; great shopping; and some of the best food in Spain…Barcelona has it all. But—while Barcelona is a great place to visit—not everyone wants to live in a major metropolis. If you like what Barcelona offers but prefer day-to-day life on a smaller, more intimate scale, you have options here.
In the popular imagination, it’s the great capitals of Europe that get the most attention. Tourists flock to Paris, Rome, Madrid, and London for the big-city flair, museums, and monuments. It’s the thing to do. And granted, you should seize any opportunity to stroll the Champs-Élysées on a beautiful spring evening or explore London’s international cuisine and regal parks.
A special edition of Real Estate Trend Alert—on my buy of the decade on the Riviera Maya. In this special edition, you’ll also discover…
What happens when unstoppable tourism demand meets limited land opportunities… The excellent protection offered by Brazilian “reciprocity” contracts (I just got a check for $20,000)… A new real estate investment trust in Ireland… The opportunity in retirement care in Ecuador… Incentives to invest in Panama City’s 341-year-old historic quarter…
Not everyone looks forward to getting up and going to work. But I’m not complaining. The most difficult task I need to tackle today is to finish packing a suitcase. So I’m having a very leisurely breakfast before heading to the airport for a flight to Barcelona, one of the world’s most electrifying cities. Even though I’ve done it countless times before, I’m really looking forward to…
People are brewing small quantities of beer in garages all across America….but some of them have taken that passion for “home brewing” overseas and turned it into a livelihood. It seems the whole world is waking up to the higher quality of craft beers, and the market for them is growing. If you’ve been in a bar recently you know about the thirst for craft beers
My youngest daughter, Katherine, slammed her bedroom door, stomped into the living room and shouted out, “I want to go HOME! I hate this place! I hate school! Why are you making me do this?”
Over eight years ago, I decided to leave behind the urban jungle of American cities to travel. At the moment, I’m surrounded by the lush green suburbs of Buenos Aires. I’m constantly reminded of Jumanji out here. Thick green, leafy vines have completely taken over property walls and fences, wrapped themselves around tree trunks and flower pots. Palm trees and banana trees rise up like proud flags beside homes and office buildings.
Is Malta the Safest Bet in Real Estate You Can Make Today? Could Be…Case Study: The Last Great Crisis Investment in Ireland…The Window is Closing on Our “Spanish Triple”…Burma—New Condominium Law that Allows Foreign Ownership…Will U.S. Flights Ever Land at Planned New Airports in Costa Rica and Nicaragua?…The Latin Currencies That Mean a Buying Opportunity for You…And More.
Vacation rentals are a great way for an investor to create an income overseas but, unless they’re living next door, anyone who owns a vacation rental needs someone to manage it for them. Property management is a business you can start with absolutely no investment. You are simply trading your time and effort.
The global economic crisis popped Spain’s real estate bubble. That’s why today you could buy a spacious condo in a high-end community on one of the nicest stretches of the Costa del Sol with monthly payments from $483. That’s a low sticker price. And, this is a stunning place to visit and spend time. You have dramatic views along the coast. Long winding sandy beaches you can walk for miles. Quirky Gibraltar.
For 15 years, real estate prices in Spain soared. Then in 2007 demand slowed. By the time the worldwide economic crisis rolled through Spain and Europe, the real estate bubble had well and truly popped.
Europe may be the second-smallest continent by land mass, but it’s extravagantly diverse in geography, climate, language, and culture. From the flamenco-dancing south of Spain to Rembrandt’s tulip-filled homeland, to the rugged cliffs of Italy’s Mediterranean coast, it’s equally rich with opportunity…for gracious travel…comfortable living…even for good-value investing.
Not the safest religious tradition we’ve ever heard of, but the Fire Wheel Festival in Sinca Noua, located near the city of Brasov, Romania, does sound like quite a sight. Celebrating the start of Orthodox Lent on March 3, the village asks its young men to roll hay wheels to the top of a local hill before each wheel is set alight. What follows is a true feast with music, drinking, and dancing.