Spanish Property Investment Advice
Brought to you each week by our property expert, Iain Maitland.
Posted on 08 September 2006
Jaen Property is the Cheapest in Spain
kyero.com has some interesting new stats out for bottom-fishing investors. Interested? Read on! Spain remains the number one destination for many Brits looking to buy property in Europe and, whether you’re buying an investment or a permanent home, you’ll want to maximise your capital appreciation as much as you can. One of the best ways to maximise your potential returns is to look for affordable locations – assuming, of course, that there are some triggers coming into place that will increase demand for properties in these areas. According to Kyero, the average property price in Spain is 240,000 euros. The most affordable location is Jaen where the average is 77,000 euros. Sevilla at 150,000 euros and Gran Canaria at 188,000 are both well below the average as well, and look as though they have greater potential though.
From this month, British expatriates living in Spain may want to check out Santander’s expatriate services. The Spanish bank is making a concerted marketing effort to target those Brits who own a holiday or retirement home in Spain. Working with its British partner, Abbey National, some 150 Abbey employees will be seconded to branches in Andalusia, the Balearic Islands, the Canary Islands and the Costa Brava. The aim is to create fifty multilingual branches by 2009. Santander’s strategy includes commercial brochures in English, legal translation services and other services related to property transactions. The new branches will operate under the Santander name.
Looking at Andalucia for a property investment or a holiday home? The region is generating very strong statistical and anecdotal support at the moment. Stats show that tourism is up by 9 per cent on the year and that hotel occupancy has been at 85 per cent. Anecdotal evidence suggests that Spanish holidaymakers have been coming into the area in their droves - 66 per cent of visitors are said to be Spanish followed by the Brits on 22 per cent and the Germans at 13 per cent. Lots of German holidaymakers have been coming here for their summer holidays. The area is on the up again with the development at Malaga airport being a help. I keep being told to look at Granada in the hills to the north where apartments and golf courses are springing up. More on this soon!
Until next week – or earlier if you join me at www.internationalpropertyalerts.co.uk for free! This is a good time to join as we have two free newsletters coming out to you in the next two weeks. Good, solid how-to advice, and not an ad in sight!
All for now
Iain Maitland
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