Beaches...mountains...fabulous cities...exciting festivals. And, of course, sunshine. It’s not surprising that southern Spain is the most popular area for Europeans seeking a second home.
How much for a house in Spain? Well, there’s a huge price variation across the 17 regions...and also from town to town within the regions. But while property prices have gone up in the past few years, it’s still possible to unearth village houses and small coastal apartments for less than $100,000...if you know where to look.
- Three Little-Known Havens in Italy, France and Spain
Posted on April 17, 2013 by Steenie Harvey
If you’re in love with classic Europe and its history, romance and culture, take heart: Spain, Italy and France aren’t only for the vacationer who saves for months just to visit. Each one of these three countries has numerous small towns and villages that lie under the radar—places with enticingly affordable properties to rent or buy
We’ve been keeping an eye on what’s been happening in the property market of crisis-hit Spain—and there’s no shortage of bargains. Check out the articles below for more on the type of real estate opportunities Europe’s economic downturn has thrown up in this varied, culture-rich nation.
In Spain banks have foreclosed on, or control, hundreds of thousands of completed unsold condos and homes. This is the type of scenario that could throw off some very interesting opportunities. As you know Europe is in crisis. But let me back up and take a look at Spain. Home ownership in Spain (now over 80%) is encouraged through policy and a range of tax breaks. Municipalities were encouraged via windfall payments to designate land for development.
- Europe: Now More Affordable Than Ever for North Americans
Posted on August 22, 2012 by International Living
Right now, doom and gloom in Europe runs deep. But there is a story not being told…one of opportunity borne of this crisis. A story of places where you could own your own piece of the Old World…for less than half the price of a budget family sedan. In Greece and beyond—prices are falling like a rock. And for anybody who ever mused about a European retreat, that’s the silver lining.
Everything is modern, new, and shiny. This area is convenient like Florida is to a New Yorker. The visitors I’m watching are desperate for some spring sunshine. Some (mostly Scandinavian or Russian) are even here to pick up real estate on the cheap. There are deals to be done.
- Spain’s Real Estate Market: Up to 50% Off Property Prices
Posted on June 26, 2012 by Ronan McMahon
Everywhere historic buildings bring alive the romance of old Spain. Granada is the country’s most beautiful city, the jewel in the crown of Andalucía, and today, thanks to the country’s crisis, you can ﬁnd distressed real estate here for up to 50% less than what you would have paid for it four years ago.
Steeped in history, Granada, Spain attracts visitors from around the world. Its international airport has flights from most major European cities, and it’s within a two-hour flight of northern Europe’s major population centers. This could just be the perfect location. There’s culture. Three World Heritage sites, including the exquisite Moorish palace of the Alhambra, are just the headline draws.
- Spain’s Crisis, Your Opportunity: Up to 50% Off the Jewel of Andalucía
Posted on May 28, 2012 by Ronan McMahon
The spring sunlight glints off the snow-covered Sierra Nevada mountains. When I left Marbella on Spain’s Costa del Sol, 90 minutes from here on a modern highway, it was a balmy 75 degrees Fahrenheit. I haven’t seen a cloud since. At 2,200 feet above sea level, in Granada’s historic center, it’s 63 degrees, and sunglasses and short sleeves are the order of the day.
A blue sky, blue-water scene is unremarkable in the tropics. But this is Europe. I’m in southern Spain, on Murcia’s Costa Cálida—the “warm coast.” Whoever thought up the name wasn’t exaggerating. Summer temperatures soar above 90 F, and there’s an annual dose of at least 320 days of sunshine. On the coast, spacious furnished rentals are $508 to $635 monthly.
Not needed: coat, scarf or sweater. But some sun-block would be welcome. Early December and the afternoon temperature is nudging 70 F. Sunbathers are on Isla Plana’s beach, and children are building sand-castles. I can even see swimmers.
Times are tough in Spain. Half her young are unemployed—if they haven’t emigrated. Her economy, banks and real estate industry is in tatters. Like in Ireland, they built too many homes. Homes that nobody would ever want. Speculators snapped them up, betting that prices would go even higher. Then the party ended in 2007. By 2008, all activity stopped completely.
The economies of the PIIGS (Portugal, Ireland, Italy, Greece, Spain) are in disarray. Europe is in the throws of sovereign, political and financial crises. Greece is bankrupt and burning. Yields on Portuguese bonds hit 17% earlier this year.
Tucked between the southern regions of Andalucia and Valencia, Murcia delivers the best of Spanish essentials: mild winters, wine villages, tapas bars, fantastic beaches and (for Europe) relatively low living costs. You may ask “why Murcia”—a region that’s almost unknown to North Americans. Especially when Spanish property values have slumped.
Even travel writers need escapes. One of my favorite getaways is Alicante, a city on Spain’s Costa Blanca. Yes, I know I’ve disparaged “the Costas” in the past. Spain-without-the-Spanish…paunchy northern Europeans overdosing on sun, sex, and cheap booze…hideous plastic donkeys…concrete jungles…acres of lookalike vacation homes. So why Alicante? Well, there’s a big difference between seaside cities and purpose-built resorts. Alicante is lively, sunny, and inexpensive, for sure. But it’s also charming, fairly sophisticated, and its ambiance is as Spanish as that of Madrid.
The economies of the PIIGS (Portugal, Ireland, Italy, Greece, Spain) are in disarray. Europe is in the throws of a banking crisis brought on by (among other things) exposure to Greek sovereign debt. Many of you have been asking if now is the time to jump in.
- Live Well in Europe: Where to Find the Good Life for Less in France, Spain, and Italy
Posted on August 29, 2011 by International Living
Europe has so much to offer a potential expat…great food, a diverse choice of cultures, stunning countryside where life is quiet and relaxed and the buzz of everyday life seems a million miles away, awe-inspiring mountains for skiing and soft, sandy beaches for wiling away summer days…
But isn’t Europe expensive? That’s the observation we hear most about Europe and the answer is that Europe can be expensive…unless you know the right places to look!
In this report we’ll tell you about our favorite places in “Romantic Europe” and hope to make you dream of new places in the “Old World.”
My friend and contact just caught wind of an amazing firesale deal in Spain (as you may have gathered, he is in this business). A 144-bedroom, five-star hotel (Lady Diana and the Rolling Stones have stayed there) overlooking Mijas golf course (actually on the fairway), 20 minutes from Marbella airport will be sold off over the coming weeks.
- Off the Radar: Should You Live in a Town Like This?
Posted on September 29, 2009 by Len Galvin
We ask five of our roving reporters where they’re hot on right now…simply pick the town that matches your plans.
- Beachfront, Bohemian Barcelona: Prices Dip to 2005 Levels…and Cash is King
Posted on July 30, 2009 by International Living
For a lifestyle change, sun-blessed Barcelona is thrillingly enticing. Few other major European cities can deliver on beauty, style, history, beaches, good weather, and arty bohemianism—and also be within a couple hours of ski slopes.
- Beach Houses that Earn their Keep—How to Cash in on Rental Income
Posted on May 22, 2009 by International Living
Beachfront property not only makes sense as a pure investment—after all, they’re not making any more of it—but it can also make an ideal second home.
- Should I Move From Uruguay to My Favorite European City?
Posted on January 28, 2008 by International Living
I walked into a well-known tapas bar in Madrid, Spain, and the first thing I saw was a dead guy. Actually, it was a series of pictures, not only of a dead guy, but also of a number of soon-to-be-dead guys in the process of being gored, trampled, or flattened by finely conditioned bulls in excess of 1,000 pounds. Of course, the bullfighters who won are here too, in a huge photographic display that covers some of bullfighting’s most exciting moments. This particular bar is one that pays proper tribute to the bulls that won their match.
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