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15/02/07 -
Spanish Property Market Struggling |
The Spanish coast has been popular with second home
owners for decades. However, there is currently a huge surge of foreign interest in inland properties in Spain.
Brits and other overseas investors are making a move away from the traditional coastal resorts and are looking
inland to buy, avoiding the coast because of overcrowding, the lack of “Spanish-ness” and the expense. This is
supported by recent figures from Holidaylettings.co.uk who reported that over 30% of online enquiries about holiday
homes in the last year related to inland Spain.
It is no longer always the case that property in Spain is cheaper than at home, reports Spanish experts
www.1casa.com. The average price for a property in Malaga province is €315,0001/£206,8501, compared to the average
UK house price which is less at €303,770/£199,467. In the very popular ex-pat town of Marbella on Spain's south
coast, this amount increases again to €601,000/£394,675, which is even more startling when the overall average
Spanish house price is just €245,000/£160,883.
Lesser known inland areas are now becoming investor and homebuyers' hotspots and it is likely that they will shortly
overtake the coast when it comes to demand for new housing, www.1casa.com claims.
Gems to be found inland
The market town of Antequera is located right in the centre of Andalucia, set in a rich, fertile plain, 40km north
of Malaga and 40 minutes drive to Malaga airport. Major improvements in the transport infrastructure has opened up
the opportunity to commute from Antequera to Seville, Granada, Ronda and most of the coastal towns. The average
price of a house here is just €187,670/£123,219, but this is changing as more and more people discover the benefits
of living here. Antequera has seen a huge 13.25% increase in foreign residents in the past year alone.
Foreigners make up only 4.74%2 of Antequera’s population at present, compared to the rest of Malaga province which
has a foreign population of 12%. But the numbers of overseas investors and new residents in the inland regions is
increasing, over 13% in the last year. In Antequera the countries most represented are Brazil, Britain, Romania,
Morocco and Italy. There are 326 Brits in the town which has increased from last year by 47 making them the biggest
North European group.
Tourists too are heading inland in search of the real Spain and there are plans for a new airport in the region to
cope with increasing demand. Despite the influx of foreigners, the area around Antequera still retains its Spanish
culture. It offers year round sunshine, wonderful country walks, little noise or pollution and many historical
places of interest to explore.
The inner Spain that has been hiding its treasures for centuries is now being discovered by foreigners wanting a
country lifestyle but with access to the beaches and amenities of the coast.
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