Smartest places to invest in Spain for 2016
Whether you’re considering a buy-to-let apartment, a holiday home or a plan for your retirement, Spain has a huge range of property investment options that could be perfect for you. It’s no secret that Spain suffered badly through the financial crash, but with prospects rising and the economy growing Spain looks set to return soon to its pre-recession prosperity.
You should take advantage of this in 2016 when it’s still possible to get exceptional value for money here. If you are looking to invest in property in Spain this year, here are some of the smartest places to invest in Spain for 2016
Malaga is a city on the up. As a fantastic gateway to the Costa del Sol as well as a wonderful destination in its own right, Malaga has seen a lot of infrastructure development aimed at tourists. This might suggest that this is a great choice as a location for a holiday home, but it may disguise the fact that Malaga is a wonderfully liveable city too. International investment has been strong in the city too, so it looks set to be a real hotspot over the coming years. 2016 is the perfect time to invest in Malaga property and take advantage of rising prices.
Costa del Sol
The Costa del Sol is another part of the country that has been resilient to falling property prices. A hugely popular holiday destination, the area is home to Marbella and Puerto Banus which are highly sought after and famous for their celebrity residents. If you’re looking to invest in a high end villa, this area can be perfect either as a retirement plan or as a holiday home. And the strength of the area in the property market has shown that this is one of the safest places in the country to invest.
Spain’s capital suffered during the recession but it is making a strong comeback now. It’s still one of the country’s true financial and cultural centres, and the low property prices make this a wonderful opportunity to invest in one of Europe’s most storied capital cities.
Sitting off the eastern coast of Spain, the Balearic Islands present an unusual investment opportunity. This is another part of the country that has performed well even during the financial crises, with employment rates remaining fairly high. You might think of the Balearics purely as a holiday destination but actually this is a lovely place to live year round and is growing in popularity as a retirement option. Many investors are looking at the Balearics as a way to buy a holiday home that they can let out which they can eventually use as a part of their retirement plan.
Similar to the Balearics, the Canary Islands have seen good levels of overseas investment especially on the eastern islands of Gran Canaria and Fuerteventura. Taking advantage of the popularity of these destinations for holidays can be a great way to invest here.
Alicante is becoming a fashionable area for overseas investment and is once again experiencing buying rates similar to those before the financial crisis of 2008. The dynamism of Alicante is partly down to the fact that this is a great tourist destination – if you’re thinking of investing in a city centre holiday home, this can be a brilliant place for it. You’ll be in good company too; around half of the market is coming from overseas. When international investors are happy to put their money into a city, you know that there is something very positive going on there.
No matter whether you’re investing in a holiday home, a retirement property or simply a city centre apartment to let, Barcelona is a great choice for all. There aren’t many locations in Spain that are desired for almost any purpose, but Barcelona is one of them. Barcelona has survived the difficulties of the Spanish property better than most cities but even homes here are not close to their pre-recession highs. That means there is still plenty of time to invest in Barcelona to look forward to excellent profits moving forward.
Article provided by Mike James, an independent content writer with an eye on Spain, covering many of the interesting stories as well as financial and property tips. For the information in this post, Spanish construction firm Promas Building were consulted.
by Mike James
Mike James is a regular traveller and frequent visitor to Spain, having lived in Andalucia, Valencia & Murcia during his time. First-hand experience of life in Spain as well as a background in finance and property also gives him the opportunity to write for Panorama.es, Marbella’s longest running real estate agent.