Where to buy a property in Spain

Nearly two thirds of British holiday home buyers in Spain choose either the Costa del Sol or Costa Blanca - the two coasts with long-established tourist resorts, year-round sunshine, golf courses galore and all the amenities and facilities they need to make their Spanish destination feel like a home from home. But the up and coming coasts around Almeria, Murcia and Costa de la Luz are proving increasingly popular among British buyers looking for somewhere less developed and offering great value for money. And Brits have now taken over from the Germans as the number one foreign property investors in Mallorca. Here's a guide on how to choose where to look - and how far your budget will stretch. Costa del Sol With 100 miles of coast, the best climate in Europe, 50 golf courses and a massive expat scene which instantly makes Brits feel at home, it's little wonder that this is the first place many Britons look at when thinking of buying a holiday home in Spain. It's paradise for those who want great weather, endless beaches, lots of entertainment and all their home comforts without needing to speak Spanish. The coastal stretch between Malaga and Sotogrande has lured tens of thousands of British property buyers, including many investors who fuelled the off-plan boom a few years ago and pushed up prices spectacularly. Marbella, which includes the salubrious yacht-owners' enclave of Puerto Banus, is one of the most expensive places to live on the Spanish mainland, with decent two-bedroom apartments starting at 300,000 euros and villas starting at 600,000 euros. Elsewhere on the coast, in expat-favoured areas such as Calahonda and Riviera del Sol prices are considerably cheaper, with apartments from around 200,000 euros. If you're looking to invest in a growing area, the New Golden Mile stretch heading west of Marbella to Estepona is seeing a vast amount of building work, particularly of golf-orientated resorts near the beach. Go inland - and we're only talking a few kilometres - and it's a world apart. Even in the beautiful white village of Ojen, just 6km mountainwards from Marbella, you can find all the charm of traditional Spanish life, beers for half the coastal price and small townhouses for under 200,000 euros. Inland towns such as Coin and Alhaurin have already attracted a number of British buyers as they offer far more value for money and a buzzing community atmosphere, with schools, shopping centres, cinemas and sporting facilities nearby, and now beautiful white towns a little further inland (though still within easy reach of Malaga) such as Antequera and Alora are attracting foreign buyers. Prices have risen sharply in Antequera over the past couple of years, and building is restricted so what's there is now at a premium, but you can still expect to pay about 250,000 euros for a small townhouse there. East of Malaga, a region known as Axarquia, is also attracting a different kind of buyer to the Costa del Sol. Generally those looking this side of Malaga want to live in a less developed and more 'Spanish' environment, but still with lovely coastal towns such as Nerja and the white mountain villages of Competa and Frigiliana nearby, and with all the benefits of being within an hour or so of Malaga and the airport. While the west side of Malaga tends to see more retired expats, the eastern side attracts younger couples and families who want a Spanish influence in their daily life. Costa Blanca Costa Blanca has two distinct halves, most easily summed up as everything north versus everything south of Alicante. Like the Costa del Sol, the Costa Blanca (the northern part) has been a tourist mecca for decades, particularly the infamous resort of Benidorm and the less high-rise coastal towns of Javea and Denia. Also like the Costa del Sol, the weather here is reliably excellent (perhaps a little chillier in winter), you are never far from a golf course and the resorts cater for all foreign residents/visitors demands. Prices, though, have traditionally been cheaper than in southern Spain, and now that the Costa del Sol has priced many buyers out of the market, Blanca is reaping the benefits of the huge demand for holiday homes around the 100,000-150,000 euro mark. With the north of the region already pretty much sewn up as far as spare land is concerned, southern Costa Blanca, heading towards Murcia, has seen rapid development of entire news towns south of Alicante such as Cabo Roig, Campoamor and La Zenia. La Manga and Torrevieja have long been popular destinations for British buyers, but now buyers are venturing inland to new developments into the vast natural park areas around the historic city of Murcia. The Blanca overspill is also heading northwards, into the Valencia and Castellon regions, and inland north into areas such as the beautiful Jalon Valley. Inland still offers good value for money, whether you are interested in off-plan developments or rustic properties. Half an hour inland, in the striking small hillside town of Bocarent near Alcoi, you can still find houses in the oldest and prettiest streets of the village for around 50,000 euros. Northern Costa Blanca, the greener, hillier half, is typically more expensive than the south. Moraira and Benissa are the most exclusive spots, with private villas dotted around the terraced orange and olive-clad hillsides, and Javea and Denia now charge top prices for seaview properties. Calpe and Benidorm offer cheaper options for those wanting an apartment within walking distance of shops, resort-style entertainment and busy beaches. Costa de la Luz Costa de la Luz, the southern coastline which starts at the bend around Gibraltar and ends where it bumps into Portugal, has long been a quiet contender in the Spanish coastal holiday and property investment scene. For years it's been predicted to be the 'next Costa del Sol', just because the overspill into this wilder, emptier, undeveloped region seemed inevitable. But the fact that a large area between Sanlucar and Huelva is consumed by the untouchable protected parkland of the Coto Donana, means that development has always been heavily restricted. And the coastal breeze which makes this coastline a paradise for kitesurfers also deters those who want to spend endless days on the beach sunbathing and eating ice creams untainted by flying sand. Now, though, Luz is starting to generate big interest, particularly in its western reaches around Ayamonte in Huelva province, 45 minutes from Portugal's Faro airport, where beachside spots such as Isla Canela, Isla Cristina and Islantilla are growing into self-contained holiday/golf resorts. Prices in this emerging destination are, logically, far cheaper than in the neighbouring Costa del Sol. There is plenty to be found in the 100,000-150,000 euro bracket, from seaview apartments around Ayamonte to townhouses in charming small towns. The Cadiz province is more established on the holidaymakers' map, with beautiful towns such as the coastal Cadiz itself, the sherry capital of Jerez, Vejer de la Frontera - which is a strong contender for the prize of Andalucia's most idyllic white hilltop village, and the popular holiday resort of Conil de la Frontera, with its stunningly long, wide beaches reminiscent of southern California. The coast curves round to Tarifa, the windsurfing capital of Europe and a bit of a bohemian outpost, before you steer past Gibraltar into the mass market appeal of the Costa del Sol. Vejer has seen considerable property price rises in the past few years, which is entirely understandable as probably few foreigners visit the town and fail to entertain some thoughts of how wonderful it would be to own a house there. Set high up a hill overlooking the plains, Vejer feels as though you have stepped back about 50 years. Yet within 20 minutes you can be on the beaches around Conil and plunged back into 21st century beach life. Villas in Conil cost around 300,000 euros and upwards, but in neighbouring Chiclana prices are substantially cheaper. Almeria Where Spain turns the corner on its south eastern corner you find the start of the province of Almeria on the shores of the Mediterranean. The pretty whitewashed town and seaside resort of Mojacar has lured artists and holidaymakers for nearly 40 years, but the rest of the region has remained little known to most foreign visitors to Spain... although you may have unwittingly watched one of the many Hollywood films set in northern Almeria's Tabernas desert - the only true desert in Europe - including Lawrence of Arabia and Indiana Jones and the Last Crusade. Now, however, not just Almeria's coastal towns but its inland villages are starting to attract second home buyers who are attracted by comparatively low property prices, the pleasures of living in "unspoilt" Spain and the driest climate in Europe. With the exception of Mojacar, where property in the beautiful old town is highly desirable and the prices are accordingly high, Almeria offers foreign buyers excellent value for money. Until relatively recently, due to a limited road network which has now improved drastically and limited options by air, its coastline was also spurned in favour of Malaga's and Alicante's offerings and prices remained low. Now low-cost airlines fly to Almeria airport and new development is taking off, particularly in rapidly-expanding resorts such as Almerimar and Vera Playa, where you can expect to pay around 100,000-150,000 euros for a one- or two-bed apartment near the sea. Generally in Almeria prices inland are still far lower than you could find in equivalent areas near the Costa del Sol or Costa Blanca, with houses in need of renovation for as little as 35,000 euros and large villas from around 250,000 - about half the amount you would expect to pay for a similar property in Marbella or northern Costa Blanca. The average cost of new housing in Almeria is 1,393 euros per m2, compared with 1,631 euros per m2 in Seville and 1,457 euros per m2 in Malaga. Overall in Andalucia, which includes Almeria, property prices are expected to rise by 11% in 2005. As you would expect for a place whose desert makes a convincing American Wild West, Almeria is the place for those who want a hot, dry climate where temperatures rarely dip below 13C even in winter. But it's not just one big desert. Almeria's coastline range from long, sandy beaches to snug coves and its interior from high mountains and wide plains in the Sierra del Gador to lunar landscapes in the north of the region. And it's all still virgin territory to the average foreign property buyer. Mallorca That Mallorca is no longer a bucket-and-spade holiday destination is widely known. But just how stunning and exclusive the biggest of the Balearic Islands can come as a surprise to many people. As you would expect from a highly desirable island whose 3,600km2 are sought after by Hollywood stars and Spanish royalty, and where new building is limited and spare land in short supply, property prices are among the highest in Spain. Although resorts such as Magalluf and Palma Nova in the south west and Cala Millor and Cala d'Or in the east, are still popular mass tourism destinations, other areas of the island have been synonymous with the rich and famous seeking sheer exclusivity. The historic towns set in the Tramuntana mountain range such as Deia, Soller and Valldemossa are highly desirable places for a discreetly swanky holiday home - expect to pay anywhere upwards of 1 million euros for a decent villa or finca. Portals Nous, just west of Palma, rivals Puerto Banus with its flash yacht-owning fraternity posing around the marina. And the city of Palma itself is gaining a reputation as a cultural capital and a mini Barcelona with its chic boutique hotels, trendy art museums and designer shops beside a sweeping bay. Properties in Palma tend to be of the fashionably shabby variety in the old town - though the crumbling facades can deceptively shield some highly designer renovations, costing upwards of 500,000 euros if you fancy a sea view from your roof terrace. The average property price in Mallorca is 750,000 euros - that's among foreign buyers, many of whom want villas or rural fincas. There are plenty of options, though, if you are looking for something a bit smaller, simpler and - let's face it - cheaper, such as an apartment within a short walk of the huge sweeping beach at Alcudia in the north, or near the stunning bay at nearby Puerto Pollensa. Even in salubrious Andratx in the south west, where Claudia Schiffer recently sold her mansion, there are beautiful designed one-bed apartments near the waterside for around 200,000 euros. The east of the island tends to be a bit cheaper, simply because it remains less trodden by tourists and is just that bit further (ie. still only an hour's drive) from Palma airport. That's the beauty of Mallorca. You can never go distastrously wrong in your choice of area - as nowhere else on the island is too far away.