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27/09/06 -
Property Hotspots in Spain for 2007 |
Spain continues to be one of the world's favourite
holiday spots and smart investors who are willing to look a little further than the saturated tourist resorts can
find lucrative development opportunities , in some of the country's most charming locations.
Murcia
Described as the most beautiful and historic region in Spain, Murcia has emerged as a popular relocation destination
and the foreign market is growing steadily. A key factor behind this growth has been the realisation by developers
that golf courses almost invariably boost rental demand. Buy-to-let investment has long been a popular policy for
Brits in Spain and some of the most lucrative examples have been found overlooking the lush fairways and immaculate
greens of Spain's stunning golf courses.
A number of golf resorts are set to be completed in Murcia in the coming years including Polairs World's new Condado
de Alhama resort. Golfing tourists are typically some of the wealthiest in Europe, meaning that rental income can be
extremely strong. Furthermore, because Murcia enjoys good weather for about ten months each year, successful
buy-to-letters will find that they have decent tenant demand for prolonged periods
Investment advisors Assetz have also tipped Murcia as a hotspot, explaining that planning permission is strict in
the region as the local authorities aim to keep urbanisation to a minimum meaning that investors' property will not
be crowded out by new developments which could reduce property price in coming years.
"The region is considered to be one the fastest growing in Europe and is experiencing population growth of nine per
cent a year which is good news for jet-to-let investors as there is a strong local demand for accommodation as well
as foreign tourists."
Alhama de Granada
Alhama de Granada has been tipped by British broadsheets in recent months as a top spot for bargain Andalucian
property. Situated between Malaga and Granada it is famous for its gorge and hot springs and offers lakeside and
mountain views. It is close to the airport and the coast. Property expert Iain Maitland has also recognised the
increase in investment in the area. "I am not 100 per cent convinced that it will become what we might call a
hotspot but you will certainly see prices rise. Check it out"
Costa De La Luz
The Coast of Light has ousted the coast of sun in the fashion stakes and is now the place to be seen for holiday
makers who are in the know. Locals all have their favourite 'secret' beaches, often accessed via military land with
threatening No Access signs. According to UK Broadsheet The Telegraph the summer's hottest beach parties take place
at the old hippy resort of Los Canos de Meca a relatively undiscovered market for foreign buyers.
Recent negotiations over Gibraltar's airport have made the region more accessible to foreigners and experts have
predicted a subsequent property boom. Smart investors have already splashed their cash in the water sports Mecca of
Tarifa but there are still sound, affordable properties in the area with good potential for return on investment.
Zaragoza
Tipped as an emerging hotspot by Eye On Spain back in June, Zaragoza is the capital of Aragon. It is a large and
lively city between Madrid and Barcelona. Three quarters of the population of Aragon are living in Zaragoza. Besides
some outstanding historic sights and its close proximity to the central Pyrenees, there are excellent restaurants
and cultural sites The city is the venue of The Expo 2008 and according to property expert Iain Maitland,
infrastructure is improving with new motorway links to the North and centre of the country. There is also foreign
investment coming in including a massive retail development scheduled for completion next year which will draw an
estimated 15 million visitors a year.
Costa Brava
Renowned for its beautiful scenery and popular with walkers, Costa Brava has become an increasingly popular
destination for retirees. Recent studies have shown that 30 per cent of pension holders see themselves retiring
abroad. Of those tempted by a place in the sun, 20 per cent tipped Spain as their chosen destination. Retiring
abroad is not a new phenomenon, and many homes in Spain are now owned by pensioners who have chosen a different life
from that of their own parents and grandparents.
Although company pensions are no longer as reliable as in the past and private pensions are dependent on the
performance of the stock market, one in five thinks that their hopes of retiring abroad are realistic and
achievable. The UK Government says 871,000 Britons now draw their state pension while living permanently overseas -
and perhaps as many again have retired abroad and are either below pensionable age or choose not to take a pension
at all.
Retirement villages are popping up in non- English speaking Costa Brava offering residents a safe community with
doctors on hand and amenities in walking distance. These properties can be profitable for buy to let investors but
tenants in such communities must be over 55 which could prove problematic in the long run. A small holiday home near
popular walking trails would be a good investment for year round profit.
Andalucia
The Andalucia region has enjoyed the best tourist summer in five years, making the area more appealing to budding
property investors. According to Assetz, a prime reason for this revival has been the increase in Spanish visitors
to the Costa Del Sol which, for many years, has been perceived as a British stronghold on the South Coast.
In addition, the changing image of the resort and the resurgence of Europe's largest economy has led to more Germans
making the trip down to Southern Spain for their summer holidays. EuroWeeklyNews reports that 13 per cent of
visitors were from Germany this summer, while 66 per cent of tourists were natives to Spain. The proportion of
British tourists came in second place at 22 per cent. |
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