Northern Spain’s Property Gems

Many property investors are put off by buying property in Spain because of the problems with some properties in recent years and the large, crowded expat community. However there are still some hidden property gems in Spain and the country should not be overlooked.

Many overseas property investors have traditionally looked to Southern Spain when investing in Spanish property. However Northern Spain is starting to gain in popularity because it is a world away from the built-up, owercrowded areas in the South and is full of spectacular scenery, a laidback, friendly culture and fantastic food.

Santander is the capital of the area and still retains some of it’s old charm thanks to it’s former role as a summer retreat for the rich. The climate is another plus point for the area as it doesn’t suffer from the heat of the South. Summers tend to be sunny and warm without the cloying humidity and summers tend to be fairly mild. The only downside is there is more rain than in the South however this means that the countryside tends to be green and fertile leading to some spectacular scenery in the surrounding areas.

Despite not having the boisterous reputation of some of the Southern property hotspots, Canatabria is far from boring. Activities range from sports such as skiing and golf, through to more gentle past-times such as fishing and bird watching. The infrastrucutre is also good with plenty of airlines, including budget ones, flying to the area on a regular basis. There is also a 24 hour ferry that travels between Portsmouth and Plymouth making it ideal for the UK property investor.

The seafront is probably the most popular area to buy in and is also likely to be one of the better areas for rental income. However don’t expect to buy new – there are few new property developments in the area however this means the area retains much of it’s natural charm. Because of this area’s of Spain’s history of attracting the aristocracy and rich – many of whom still retain second homes – property prices are relatively high however this can be offset with slightly higher rents.

The peninsula is one of the more sought-after areas and this is reflected in the price. Any property with a sea view is also likely to be expensive. For Spanish property investors looking for a slightly cheaper option, look for villas or apartments on the outskirts of Santander which tend to be a more reasonable price. Properties which are around half an hour’s drive inland can be up to 50 percent cheaper yet still eminently rentable. There are also plenty of properties ripe for renovation and restoration so as long as the property investor is prepared to do some work, there are Spanish property bargains to be had.

Property prices in the area have not been immune to Spain’s property price problems over the last few years however the market does appear to be recovering and stabilising. Some property agents have reported that searches in Cantabria are up by about a third with many buying foreign propertys looking to buy in Europe whilst attempting to steer clear of the more overdeveloped areas.

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