Do you often dream of living in sunnier climes? If so then you’re not alone. Between 310,000 and 380,000 Brits have already made the move to mainland Spain and the surrounding islands, and since Brexit finally came to pass earlier this year, more British expats are moving to Spain than ever before.
Property investors, in particular, are looking for competitive returns in Europe’s top housing markets, and Spain remains a top choice. With it’s perpetually sunnier climate, great food and general European charm, it attracts hoards of tourists every year – and, whether you’re hoping to cash in on the busy summer season, relax in a holiday home or find yourself a quiet spot to live in and enjoy the simple life, there’s bound to be a place that is perfect for you.
Let’s take a look at four of the best Spanish locations for luxury property investment in 2020 according to Spanish investment experts, MySpanishResidency – all of which promise sunshine, great food and a good dose of culture, with a tidy profit to me made, to boot.
Valéncia
The port city of Valencia lies on Spain’s south eastern coast, where the Turia River meets the Mediterranean Sea. Best known for its City of Arts and Sciences, with futuristic structures including a planetarium, an oceanarium and an interactive museum, the city is also blessed with several beaches, with plenty of places nearby to experience nature and enjoy hiking trails and coastal walks.
Property sales have continued to soar in Valéncia in recent years, up 16.7% year on year, with 35.6% of inhabitants now from overseas. With demand rising rapidly, it’s a great time to make your stake in the ground and invest in a spectacular luxury property, just be sure to hire a decent real estate lawyer such as the likes of Balcells Group. Rental prices average 1,816 Euros monthly, but high-end properties can fetch much more.
Málaga
One of the top holiday destinations in mainland Spain, there’s no doubt that Málaga is a savvy place to invest – but you’d better act fast if you want to get your pick of the luxury bunch. The number of property transactions has continued to climb over the past year, which is in turn driving up property prices in this sought-after location.
Even so, prices remain reasonable when compared with property in the UK and you’re almost certain to get a lot more for your money. On the flipside, rental costs are on the increase, too – so if you’re thinking of letting out your luxury apartment to guests, particularly in the summer months, then you’ll be guaranteed to make a tidy profit.
Madrid
The Spanish capital, though not as popular amongst European sunseekers due to its lack of beaches, remains a thriving, exciting and thoroughly cosmopolitan city to live and work in in 2020. Comprised of elegant boulevards and expansive, manicured parks such as the Buen Retiro, it’s a cultural hub that hosts one of the richest variations of iconic art collections in all of Spain.
Like most capital cities, it is a particularly expensive to rent, with prices standing around EUR 13.51 per square metre, but this, in turn, makes it a great place to invest.
Mallorca
The Spanish island of Mallorca is known for its vibrant beach resorts, sheltered coves and limestone mountains. Popular amongst tourists in search of a sunshine break close to home, it doesn’t disappoint on the glorious weather front – and with a plethora of luxury property going for incredibly reasonable prices, it’s a great place to invest in 2020.
Many wealthy buyers enjoy having a second home on this Balearic paradise island, with Brits and Germans leading the very active market. It’s not hard to see why, either, because beside the perpetually agreeable weather, Mallorca benefits from a range of state-of-the-art amenities, including quality hospitals, historic sites and an array if art and cultural events happening throughout the year. Add to that they broad variety of world cuisines and natural beauty, and it’s a wonderful place to retire or to take an extended break for the summer.
Puerto Portals in a particularly sought-after location on the island, and is frequented by the rich and famous. Although construction levels remain low compared to a decade ago, luxury apartment complexes continue to spring up across the island, with amenities including private pools and lavish spas – while developers continue to support the local government’s plan to redesign the Paseo Maritimo into a pedestrian-friendly, year-round shopping destination.
Purchasing a luxury property in Spain remains a savvy way to invest your money for the future – and, whether you’re looking for a holiday home, rental property or brand new home in the sun, this place has got it all.