February 4th, 2008

Buying Property in Spain

Spain is one of the most attractive places for vacationing and retirement for Europeans. It consistently delivers good weather, is blessed with a relaxed and enjoyable way of life and promises the security of a strong economy and reliable infrastructure.

In the last couple of years, Spain has come off a huge real estate boom that at times grew by 30% in a year and lasted ten years. Now, things are cooling down a bit, but no threatening crash is in sight and the market is still a strong one.

Analysts believe that property rates will continue to slow in their growth rate, until they settle at regular, sustainable levels. Consensus has it that while the Spanish real estate market won’t constitute as huge a part of the economy as it has in the last decade, it will still remain strong because the undeniable appeal of Spain and owning a property in Spain that’s not likely to change anytime soon.

A number of new laws have come out that facilitate the buying process for foreigners who’ve fallen in love with Spain, and make it easier for them to live and work there once they’ve successfully purchased their dream home.

Here are a few of the current hotspots Spanish property:

Costa Tropical
This beautiful coastline enjoys a sub-tropical climate and is really a pleasure to behold with exotic plant life and pristine beaches. The fact that the area hasn’t been nearly as developed as some areas in Spain only adds to its attractiveness.

• Almeria: A city of 180,000 with its own airport, Almeria has both its own charms (modern shopping complexes, a Moorish fortress, a Cathedral) and is located near plenty of other interesting places to visit.
  
• Aguadulce: This tiny fishing village of only 2,000 near Almeria has recently attracted the attention of foreign homebuyers in search of peace and tranquility. It offers golfing, wide beaches and, for the more adventure-minded, water sports of all kinds. 

Costa Blanca

• Alicante: One of the strongest magnets of tourism and new developments in Spain, Alicante offers a unique and fun environment, with beautiful beaches, charming boardwalks, and plenty of shopping areas. It also has the added benefit of being serviced by a major airport.
  
• Denia: This popular destination has done an excellent job of maintaining a sane balance between the strong growth it’s experienced in the last ten years and its open, fresh atmosphere.
  
• Guardamar: This coastal town is known for the Dunes of Guardamar, a forest that was planted between the town and the beach to protect it from strong coastal winds. This area has become a beautiful natural reserve (as well as an environmentally protected area) full of beautiful flora and wildlife.

Costa Calida

Murcia: A larger city of 300,000, Murcia is graced by a stable climate with little rain and over 300 days of sun per year. Its varied ecology and outstanding beaches make for a relaxed backdrop to the city life. Recently, a good number of residential golf resorts (complete with shopping centers, restaurants and other recreational areas) have been built in the area.

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