Buying a Holiday Home in Spain
In Spain there are 3.3 million second homes and demand for holiday homes has risen 3 percent per year over the last 10 years. The number of foreigners buying second homes in Spain is expected to overtake the number of Spanish buyers by 2008. Due to the dramatic rise in property prices in the UK, many Brits find they can now afford to buy what was once considered the priviledge of the rich.
It is hard to imagine that only two hours away from the uncertain British climate and hectic pace of life, lie blue skies, sunshine and a relaxing lifestyle. Owning a holiday home in Spain has never been easier, and with a choice of daily flights from all over the UK and Ireland, popping over for a long weekend is quicker than commuting round the M25! You don’t even need to pack a suitcase – owing your own holiday home means you can leave clothes, towels, cozzies and toiletries there ready for your arrival.
The majority of foreigners buying holiday homes in Spain choose the coastal areas of the popular Costas – mainly the Costa Blanca, Costa del Sol and more recently the Costa Calida.
However, there are those who prefer the mountains, or a rural retreat in the countryside. For those people, there are still bargains to be had – but usually at a price. Although you can still get a picturesque finca hideaway with thousands of square metres of land, stunning scenery and natural lakes, you may not have running water or electricity. Many people can live with fresh water wells and generators – but it’s not for everyone. Another point to consider here is that the property may only be used for short periods of time throughout the year, and rural country houses will need more maintenance and security than a coastal urbanisation or town houses.
Others prefer a ‘city pad’ opting for Barcelona in the north, Madrid in the centre, or Seville, Granada, Alicante or Valencia.
What may be suitable for you, may not be for holidaymakers. If you need to cover a mortgage, or have bought purely for investment and want to rent out the property for the majority of the year, put serious consideration into the location. Would you pay to take your family to an isolated country villa where you have to spend two weeks using an outside ‘loo’ and pumping water from a well half a mile down the road? Well, you might, but you can bet your bottom dollar that most people won’t. See Buying to rent >> Wherever you decide to buy your holiday home in Spain, seeking qualified legal advice will prevent you being next special feature on TV’s ‘Holiday Homes from Hell’.
