Buying your perfect and cheap property in an exotic part of the world is something many of us dream of but so little can afford.
Properties are a great source of passive income for retirement days, and if you manage to snag a cheap one on a perfect exotic spot then you are very lucky. There are a lot of places around the world in which you can invest but Spain somehow sets itself apart from others.
This is a destination with a great cultural and touristic history and an awesome place to call a second home for at least a few months every year. Like every place on the earth, you have areas that are better than others and cheaper than others. What is important here is to find a good balance between cheap and desirable. The placement of your property will also depend on what you plan with it – are you going to buy it for your use only or will you buy it to lease out whenever you are not there.
Since we mentioned that Spain is a cultural and tourist rich place you also have to consider will your property be near interesting landmarks and places you and others can visit? This article here, with the help of valuvillas.com, will help you determine those things and help you pick out the best and cheapest area to buy your property.
1. Mediterranean coast
The dream everyone is having is constant sunshine and sangrias, right? Deep blue sees with all the freedom you can imagine. The Mediterranean coast of Spain offers a lot of places that are affordable if you are thinking of buying a property there to have. This area also offers a bit expensive parts like Mallorca and Costa del Sol where there is a lot of population and the demand for properties there are constantly increasing which naturally leads to bigger prices for a square foot of the property. If you are looking for a cheaper one then steer clear of those two and focus on spots like Costa Calida, Costa Blanca, Costa Almeria and many others.
2. Inland of Spain
Now probably the best area to find a property in Spain and for very low prices is the inland part of the country. Somewhat less famous rural places of the country will offer homes, farms and apartments that will be more than cheap to afford. If you are having doubts about going inland, you have to understand that there is more to Spain than beaches and cold sangria in the sun. Spain has a big history and it has to offer more than already mentioned. If you are looking to get away from the big commotion of big cities or huge tourist places then inland is your safest bet.
3. Big cities
If you are looking to save some cash while obtaining a property in Spain steer clear of big cities like Barcelona and Madrid. Although it may be tempting to owe a piece of property there if you are on a bit tighter budget than these cities are out of the question. The only way you will find something remotely fit for your budget will probably be in an outskirt of any of these towns or a bit of a bad area that you really shouldn’t invest in anyway. Big cities have their advantages but they also know how to make you pay for those. This is why our advice is to think through and maybe settle for the second biggest city in line after these where you will have a bit more luck.
4. Outside of mainland
There are a few places where you can find a good deal that is not mainland Spain. The Canary Islands are the option for this and there are several places where you can buy a property for cheap. A piece of good advice would be to avoid major cities on the islands and to focus on smaller places that have a good placement like El Pinar, Valle Gran Rey, La Oliva, Pajara, and others. Here you will have a bit of everything everyone dreams of. You own a spot on the island, tourist attractions, beaches, sun, and a lot of fun. Properties here are probably a bit pricier than on some of the places on the mainland but you have to know that these are Island places and that fact alone bumps up the price slightly. If you are willing to cover that then you will find something within your budget.
5. North of Spain
Another area that is overlooked in this type of articles is located in the north of Spain. Cantabria, Asturias and Galicia are great areas to purchase your next cheap property. A lot of cities with a lot of history and landmarks have a lot to give back. North of Spain for some reason is not that saught out for which is exactly why you should look it up and consider investing there. It will be a good thing to do if you decide, and you will not regret it. The northern areas are somewhat quieter than southern ones but still offer a lot to see and do. Try not to avoid these parts.
In the end, all we have to say is do your research. Good and thorough research yields great results. Look for anything and everything. It is a good thing to brush up on the current state of Spain is since it has 17 autonomous communities and all of them have differences. For instance, some provinces collect different taxes while others have different laws. Cultural difference is also a thing there and some provinces can have their language. Thanks to all of these facts differences don’t stop there and they can express through different prices per square meter of property. So look everything up, do good research where you can compare all pros and cons of every area, and then make a clear and educated decision.
Best of luck and happy hunting for your exotic property that isn’t going to break your bank!