When buying property in Spain you need to pay particular attention to the location. Not all properties in Spain are equal, and the same type of property located on the beachfront or just 5 km inland will generate very different rental opportunities.
If you’re buying to rent, you need to concentrate on beach resorts and make sure the property is within walking distance of the beach, nightlife and shopping centres. Most tourists who want to rent an apartment or villa will not have transport, and therefore location is everything. However, if you’re buying a property to live in, the same location could prove to be noisy and a place you would rather escape from during the summer months.
With regards to different cities and areas, there is a vast difference in Spain, and you would also be wise to look at local temperatures. The Costa del Sol has a fantastic climate all year round, but during the summer months, it is not unusual for temperatures to soar above 35°C which is way too hot for many people.
The elderly or those who suffer in the heat would be better advised to choose a location such as Barcelona on the Costa Brava where temperatures will reach around 30°C during the hottest months. The area of Cantabria is also an option, but winters can be quite cold in these regions.
Your employment status is also very important when you consider where to buy Spain – if you need to work locally; you should select a town that has a thriving tourist industry as positions for your nationality are likely to be available even if you do not speak Spanish. For example, I have a friend who works for an estate agency in Villamartin, and she does not speak Spanish at all but it is not an issue as 80 percent of the houses for sale in Villamartin are bought by foreigners, nearly all her clients are from the UK and Germany.
Choosing a rural location away from tourism is not a good idea for those looking for employment as employment opportunities are few and far between, and likely to be almost non-existent for expats.
One good reason to invest in Spanish properly as opposed to property in France or Germany is that the country is extremely popular with tourists and therefore in the event you don’t use the property yourself you have the opportunity to rent it out and earn additional income.
An average three-bedroom villa could earn you around thousand euros a week during the height of the season, and more luxurious properties will get a lot more. Even if you’re not living in Spain, there are many agencies that can arrange this for you and will deal with the letting of the property in return for a fee or a percentage of your rental earnings.