In search of the ‘real’ spain’

Investors seeking the ‘real’ Spain could be looking in the wrong place...

Paul Bradley of the Spanish Property Owners Guild explained: “International property buyers looking for an authentic Spanish experience should look inland rather than on the coasts. Real Spain still exists; it is only the coastal areas that have become oversaturated."

“Most inland locations had retained their traditional character, although there are exceptions because some of these had also seen an influx of Britons. The valley of La Vinuela near Malaga is one example, where familiar accents, number plates and trappings of British life such as farmers markets selling UK produce and British pubs are all encroaching on local traditions.

Avoid over-developed areas

Mark O’Sullivan, director of dealing at Currencies Direct, added: “The Spanish property downturn has not snowballed into a crash, and savvy investors are beginning to look further inland for investment opportunities in regions such as Andalucia, where the properties are more reasonably priced than those on the Coast.

“Indeed, in Andalucia, many Agents have reported that they have had more inquiries in the first quarter of 2008 than in the same period in 2007. Ultimately, investors won’t lose money by investing in the Spanish property market if they avoid over-developed areas and buy wisely in the right location and at the right price”.