Passionate and hot, Spain has become a favored vacation destination in recent decades. Numerous of citizens of European countries have chosen property for sale by the sea in Spain as a promising direction for investment. This applies to both housings in mega-cities and cozy small towns and villages. So what should an inexperienced investor pay attention to when purchasing property by the sea in Spain?
Pros of investing in property in Spain
If you still doubt whether it is right to purchase a house or apartment in Spain, highlight at least three causes for investing for yourself;
- own resort property near the sea in one of the most developed countries in Europe;
- in the future, the opportunity to receive high income from assets, liquidity of real estate;
- the opportunity to live with a family and do business in an economically developed country with social guarantees and a high standard of living.
Real estate by the sea, its healing sea air, the sound of coastal waves, fresh seafood. And also a record 320 sunny days a year. An additional plus is a fact that housing in resort areas is always in demand. Summer rentals are very popular because the tourist season on the coast lasts 7 months a year. In addition, the closer housing is to the sea, the more expensive it is.
The undoubted benefit of funding in real estate in Spain by the sea is the opportunity to obtain a residence permit in the country when buying property for €500,000 . And if you do not have the necessary knowledge in this place, you can always contact the specialists of Spain-Real.Estate, which operates in the Spanish real estate market.
Characteristics of purchasing a home in Spain
It should be understood that the more expensive and luxury the villa or penthouse you purchase, the higher the maintenance and tax costs. The pool alone requires a decent investment because it needs to be constantly cleaned, plus payment for water.
Another point worth paying attention to is the lack of a heating system. You will need to install electric heaters or air conditioners to keep the house warm.
Prices in large cities and metropolitan areas are much higher than in small towns.
To draw up a contract of sale, you must collect a package of documents proving your ability to pay. Knowledge of Spanish is desirable, or legal support.
Which region of Spain to choose for buying a property?
Many factors determine the price of real estate, and its location is one of the most significant. In Spain, Catalonia is especially popular with its rich program of nightlife and daytime entertainment, as well as the intellectual and cultural center of the country – Valencia, which is famous for its festivals and many cultural attractions. Although these regions differ, their common features for centuries have been hospitality and a hot Spanish mentality.
Catalonia has long been striving for autonomy, but despite the political upheavals, it is famous for its good standard of living and constantly evolving infrastructure. That is why foreign investors most often choose this region to buy real estate.
Barcelona, Costa Brava, and Lloret de Mar are especially popular in Catalonia when buying real estate. Of course, Barcelona is by no means a cheap city. Only a parking space here costs €25,000-30,000! If you are interested in more budget real estate offers, take a closer look at the outskirts of the Catalan capital. For example, a 4-room flat in Costa Brava can be bought for about €225,000 .
Lloret de Mar is where most foreigners come for real estate, who miss the sea and want a house on the Mediterranean coast. This is a great investment even for an annual summer vacation: the city has a large water park, many national restaurants and cafes, hundreds of nightclubs, and so on.
After the leading regions, many foreigners are purchasing property in the Costa Blanca and Torrevieja areas.
So, over time, funding in Spanish real estate guarantees a high income. In addition, a house on a picturesque sea coast will allow you and your family to escape from the daily routine at any time and relax by the sea.