Inland Spain offers new alternatives

                                                                                         

With the recent trials and tribulations of the market being well documented, Spanish property has seen its fortunes take a bit of dip. Only this week Reuters reported that an unemployed real estate agent near Madrid is unable to make the mortgage payments on his flat and so is selling raffle tickets in order to dispose of it.
Of course, such a case is an extreme one, perhaps predictably making the news agency's "oddly enough" section. But for those who want to buy a house rather than just a raffle ticket, many agents are said to be offering some interesting incentives to possible buyers. Homes Worldwide recently relayed the news that Spanish property portal kyero.com had reported some agents offering free gifts, easy payment facilities and even lotteries (though perhaps not with a flat near
Madrid as the prize). Homes Worldwide suggested that those buying in Spain should look beyond these to more tangible advantages, such as thestatus of Spain at present as a buyer's market in which negotiating a price downwards is eminently possible.
The question may remain, however, where do people now wish to buy property in Spain? According to the International Property Market 2007 survey from the Association of International Property Professionals the country remained top of the list for UK buyers overseas in 2007 at 25.4 per cent. This was down from 31.6 per cent in 2006, but it may be debatable whether this is due to the attractiveness of new markets such as Cape Verde and India or a decline in the attractiveness of traditional
Spanish markets such as the Costas.
Even if the latter is correct, it appears golf tourism remains a good draw. Reporting on the proliferation of courses and their associated property across the Iberian Peninsula, the Independent noted that in Costa del Sol property locations such as Estepona, golfing apartments start at £146,666. The paper notes that this sector is still expanding, with the Almeira region's six existing golf resorts set to double.
For some investors, however, the greatest attraction may be in an area not filled with ex-pats. Paul Bradley, spokesperson for the Spanish Property Owners Guild, said that such areas do exist inland from the "oversaturated" coast.

Even some of these areas can have their traditional idyll encroached upon by Anglicisation. One example he gave was La Vinuela, a place which lies 20 miles from Malaga and has many charms, but also plenty of Britons, whose presence has prompted the arrival of British pubs, farmers markets selling familiar food and commonplace accents.
He said: "Every where you go there are British registered vehicles and accents wafting around the village street from Scotland, Ireland, Manchester and Kensington."
However, he noted, investors in property who want to escape all this can do so very easily, adding: "But another ten miles up the road, in Zaffaraya, it is purely Spanish. You can guess where I go."

About the author:
Jim Barnaby is a real estate investment broker and successful property investment adviser delivering research and selected UK and overseas property investment solutions with experience in spanish properties, french property investment, German property, Cyprus holiday homes, Property in Cape Verde, German property investment, cape verde property buy to let property.

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