Where to buy Spanish Property

Deciding where to buy a Spanish property is a huge hurdle to overcome at the outset, before you even embark on the serious business of house hunting.

Unfortunately it’s a giant step which far too many foreigners take too lightly without giving the all important question of location enough serious thought.

Bearing in mind that the fees involved in buying Spanish property are usually at least 10% of the purchase price, picking the wrong location could cost you a fortune if you decide to re-sell in a hurry.

Why buy property in Spain?

Spain is the second biggest country in western Europe, after France, and you’ve got more than half a million square kilometres to choose from on the mainland as well as the Balearic and Canary Islands which are also a popular choice for foreign investors. The diversity of climate and geography to be found in the country’s 17 autonomous communities is staggering. There are majestic mountain ranges and ski resorts, vast tracts of virtually uninhabited wilderness, the famous costas which attract more than 60 million foreign sun seekers each year…and there’s even a desert where many Hollywood spaghetti westerns have been filmed.

Investing in the Spanish costas

Of course the vast majority of foreign buyers opt for a property as close as possible to one of the most popular costas – the Costa Blanca and Costa del Sol being two of the country’s prime investment areas.

But a common mistake is to make an ill thought out decision to snap up a property in a coastal resort which provides blissful memories of two-week summer holidays. Whilst this scenario works well for some people, others have bought in haste (after overdosing on sun and sangria!) and had plenty of time to regret their decision over the long winter months. The Costa del Sol’s year-round sun ensures that its top tourist towns remain lively no matter what the season. But many seaside resorts along the east coast of Spain are virtual ghost towns between October and May. The same applies to many urbanisations which often have a large proportion of holiday home owners who only visit for a few weeks of the year.

Living in your Spanish property

If you’re planning to live in your Spanish property permanently it’s a good idea to rent for at least a few weeks, preferably months, in the area first to get a feel for what life will be like after the last summer tourists have left.

Even if you buy a property in a resort which is a hive of activity throughout the year, you may find the novelty of living in a permanent holiday atmosphere wears off after a few months.

Buy to let investors in Spain

Buy to let investors need to be equally careful about choosing the right location but in their case of course the top priority is to ensure that the property has the potential to generate low and mid season lets in order to maximise their rental income. The decision whether to buy a villa to rent in Marbella or an apartment to rent in Puerto Banus is yours to make.

Generally speaking, Spanish properties to rent become progressively cheaper in relation to their distance from the coast. There are still some great bargains to be found in idyllic, far flung locations inland but they’re not usually the best buy to let investments and few foreigners succeed in pursuing the romantic dream of “going native”. A few bold souls have made a good life far from the madding crowds, mastered the language and integrated with their local Spanish community – but it’s extremely hard to do and the failures far outnumber the success stories.

Retiring in Spain

If you’re planning to retire to Spain or you’re making a new life with children obviously all sorts of other important factors will influence your choice of location. Pensioners need to consider access to medical facilities and public transport, bearing in mind that the time may come when you’re unable to drive. Parents will want to be within easy reach of a decent school, work opportunities will probably be important and the availability of leisure activities for the kids also needs to be considered.

Click here to see our investment guides to Spanish Property