The Cost of Real Estate in Spain
Property prices will vary according to supply and demand, their location, size and position. It is therefore not possible to give an authoritative price guide for all Spanish property which is best obtained by referring to property magazines or English language newspapers. As a guide, however, there is a 125 kilometre strip of coastline between Alicante and Cartagena which is developing at a prodigious rate. These properties are heavily advertised in the European press with the following price indicators:
2 bedroom apartment 120,000 Euros
3 bedroom corner duplex 170,000 Euros
3 bedroom detached villa 250,000 Euros
Individually designed 3 bedroom villa from 350,000Euros
Using these benchmark property prices it is possible to make some additional generalised statements.
- Property is more expensive adjacent to the coast and cheaper 15 kilometres inland.
- Property is more expensive on the Costa del Sol, the Canary and Balearic Islands
- Property is generally cheaper the further you travel north.
- Property in Andalusia, the home of white walled individual properties restored or in need of renovation, can be surprisingly expensive if only a short distance from the Costa del Sol .
- Within each region it is possible to find exclusive areas of new property attracting prices of 400,000 Euros and, conversely, close by in working towns cheaper property renovated to a high standard at around 200,000 Euros.
