Spain not ‘out for the count’

Despite tough times for Spain over the last year, there are still bargains to be had, claims Assetz...

The end of the boom years, the credit crunch and recent demolitions of homes that breached planning regulations are all major hits from which some markets might not recover.

Yet those looking to invest in property in Spain may be surprised to find that the country is not out for the count. Some areas may be a bit bruised but, it appears, others still Pack a punch.

Huelva, for example, is a location which may become a major hotspot, the Daily Telegraph reported today. However, it notes, it is not at the moment, being home to just one per cent of the 800,000 new properties constructed in the country in the past year.

Peaceful alternatives

Yet this area, the paper notes, offers white sandy beaches, lots of Southern Spanish sunshine and distinctly cheap properties. Isolated from the rest of Andalucia by the Donana national park which lies inland (offering a further scenic attraction for visitors), it sits in a quiet spot between the two honeypots of the Costa Del Sol and the Portuguese Algarve, whose property prices are twice as high

At present this quiet corner may offer a cheap and peaceful alternative for those wanting to get away from it all but willing to put up with flying into Portugal and then travelling across the border in order to get there. But this situation will not last for much longer, as Huelva's own airport will open in 2012. Those who buy there now may find their property soaring in value once the cheap airlines start arriving.

Of course, there are other opportunities in areas which some may have neglected too. For example Murcia, a region which has seen its Coast covered in golfing resorts, is now finding that its boom towns are mainly inland, reports Homes Worldwide.

Inland prices rising

The portal notes that eight of the ten most popular towns in the region are now inland, with prices rising, according to Spanish property website Kyero.com.

Moratalla was the most successful of these with a 50 per cent rise in prices between 2006 and 2007, while Jumilla saw a 25 per cent increase. However, this still left the average price at €124,000 and €173,000 (£93,000 and £130,000) respectively, hardly excessive for a British investor to afford compared with prices back home.

Of course, buying property in such places as inland Murcia in the expectation of continued rising prices, or in Huelva in the light of its future prospects may pass many people buy. For some it may be because they have remained interested in the crowded, familiar places where so many others have already been. Alternatively they may have read the headlines and abandoned Spain favour of other markets. Either way, those who ignore the prospects still offered by Spain's new hotspots may soon be kicking themselves