Posted on 07 June 2017
Why buy now
Prices are rising in Spain’s coastal areas and sales were up on 2016. Brexit has deterred some Brits from buying there, while on the other side of the fence are buyers who accelerated their plans to beat any cut-off or curtailment of our rights to Spanish healthcare. This appears a shrewd move after the EU recently established its desire to guarantee the basic rights of British citizens living in the EU, provided you are living in France before the UK formally exits – proposed for March 2019 – and the UK government reciprocate the gesture of course. People from across northern Europe and Scandinavia are investing in Spain too, and combined with local demand as Spain’s economy improves, high demand is pushing up the prices.
Price rises vary in the different regions, but overall the picture is looking much healthier. Here is the latest news from around Spain. The three regions with biggest increase in sales are Castellón, Málaga and Catalonia.
Castellón, Costa Azahar
Nestled at the heart of Spain’s East Coast is Castellon Airport – the nation’s newest after years of being unused. So it’s no surprise local property prices have increased by 4.4% since Ryanair began shipping people in and out of the area last September. Improved international communications has seen a growth in tourism on what is affectionately known as the Orange Blossom Coast; driving up property prices on what is traditionally one of the cheapest Costas.
Málaga and the Costa del Sol
Strong property sales in the Málaga region have seen a price rise of 3.5% since last year. The Sunshine Coast is famous for being the most popular part of Spain for sun seeking retirees and business minded people looking to make money from tourists from their home country. Benalmádena, a magnet for British people, has recorded prices rising by 7.5% compared to early 2015. Other popular destinations showing good results are Mijas and Estepona.
Up in the north-east of the country house prices have risen by 4.9% year on year, with increasing numbers of people seeking out the unspoilt beauty found in Catalonia. Now that both Jet 2 and Ryanair are flying to Girona airport from the United Kingdom between April and October, the region is easily accessible from Britain, while all year round flights are encouraging people from other parts of Europe to buy homes here.
Prices are traditionally higher here than on the Costa Blanca or Azahar but buyers are still heading north. The region is particularly enticing to French people keen to enjoy the convenience of Catalonia’s border with France, which allows them to hop in the car and visit family and friends back home. While Catalonia is particularly attractive to French people, there is also strong interest from Britain too.
In the southern reaches of Costa Blanca property prices and sales are up by 5.3% overall, with Brits favourite Torrevieja recording rises of 11.9% since the first quarter of 2016. Nearby Orihuela is also benefitting from British interest. The north of the region is, however, not benefiting in the same way.
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