Locations

In Spain, the most popular locations for foreign property buyers are coastal areas such as the Costa del Sol and the Costa Blanca. The local real estate market offers brand new apartments starting at about EUR 150,000, townhomes starting at about EUR 200,000 and detached family homes starting at about EUR 300,000. Many new developments have been built around golf courses and within a short distance of the beach. Properties in these areas are very easy to rent. Many of Spain’s popular vacation resorts and new development projects have recently witnessed a drop in prices due to overbuilding and the heavy dependence of the local real estate market on British buyers. The supply of properties is therefore now much greater than demand and we are recommending to our buyers that they pay extra attention to the overall quality of the project and its location when choosing a property.

Spain is well-known for its golf course developments. In recent years, many new projects have been started and there are a wide range of choices in properties to consider – ranging from lower-priced projects through luxury properties at the upper end of the market. Individual investors usually favor properties near the coast, which is where Spain has an advantage with its very long coastline. However, developers have lately started locating their projects further inland in an attempt to offer a quiet location, high quality living, good services and good golfing. The south of Spain is the most popular area for second-home buyers. Just in Andalusia there are 60 golf courses, 30 of which are located near the coast (the ‘Costa del Sol’ is sometimes also called the ‘Costa del Golf’).

The starting prices of properties located on a golf course in the Costa del Sol are greater than the previously mentioned average starting prices – especially in higher-end locations such as Marbella. Notwithstanding, developers have been busy and they have also been building in lower-priced areas such as the Costa de la Luz and Costa Cálida. Golf course properties can also be found in the Canary Islands (e.g. Fuertventura) with prices comparable to those of mainland properties. On the other hand, properties on Mallorca and Ibiza are higher than those on the mainland.

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