Where to Buy / Where to Start!
#16
Just Joined
Joined: Jan 2020
Posts: 6
Re: Where to Buy / Where to Start!
I'd been on holiday many times to Spain, all the usual coastal resorts. First property hunt trip was in Murcia region, wasn't for me. Second was to Almeria region and ended up buying there. Big mistake. That was 6 years ago. I've used it as a base and traveled to many parts of Spain since and now realise how much better it could of been. No regrets though, but may well end up with moving expenses in the future. I hope your question is a leg pull and i'm gullible!
#17
Just Joined
Joined: Jan 2020
Location: Costa Blanca
Posts: 7
Re: Where to Buy / Where to Start!
My wife and I would like to buy a two bedroom apartment/property in Spain. She wants to be close to the beach. Neither of us have been to Spain(!) but she is all for it (too many "A Place in the Sun" programs!!!!).
I'm not sure where to start looking. Our budget is around 160K Euros. Estepano looks OK. I know we can't afford Malaga/ Marbella etc but she wants Costa Del Sol. but then there is Costa Blanca that I think is cheaper?
Although its not a buy-to-let, we'd want to at least cover the cost of any service fees by renting out, so it needs to be in an area where others want to go.
Any information greatly received on what locations/regions to look at would be most useful.
Thanks
David
I'm not sure where to start looking. Our budget is around 160K Euros. Estepano looks OK. I know we can't afford Malaga/ Marbella etc but she wants Costa Del Sol. but then there is Costa Blanca that I think is cheaper?
Although its not a buy-to-let, we'd want to at least cover the cost of any service fees by renting out, so it needs to be in an area where others want to go.
Any information greatly received on what locations/regions to look at would be most useful.
Thanks
David
Many people are in your situation and just starting to look at investing in Spain. The Costa Blanca definitely offers you the best value for money out of all the Costas and €160k is plenty to find you a decent apartment or even a 3 bed house in some areas.
If your main purpose is to make some money from holiday rentals, I would look into the following areas, as they pretty much have visitors all year round:
- Orihuela Costa (Playa Flamenca, Cabo Roig, Campoamor, Villamartin, La Zenia)
- Torrevieja
- Gran Alacant
- Altea (bit more expensive)
- Benidorm
Not sure if you know, but on the Costa Blanca, you will have 11-15% purchase costs (property transfer tax is 10% + other things like lawyer, notary etc). This may affect your original budget. You will also only receive 70% mortgage maximum from any bank as you are a non-resident.
Hope this helps and good luck!
#18
Lost in BE Cyberspace
Joined: Feb 2013
Posts: 6,148
Re: Where to Buy / Where to Start!
Hi David,
Many people are in your situation and just starting to look at investing in Spain. The Costa Blanca definitely offers you the best value for money out of all the Costas and €160k is plenty to find you a decent apartment or even a 3 bed house in some areas.
If your main purpose is to make some money from holiday rentals, I would look into the following areas, as they pretty much have visitors all year round:
- Orihuela Costa (Playa Flamenca, Cabo Roig, Campoamor, Villamartin, La Zenia)
- Torrevieja
- Gran Alacant
- Altea (bit more expensive)
- Benidorm
Not sure if you know, but on the Costa Blanca, you will have 11-15% purchase costs (property transfer tax is 10% + other things like lawyer, notary etc). This may affect your original budget. You will also only receive 70% mortgage maximum from any bank as you are a non-resident.
Hope this helps and good luck!
Many people are in your situation and just starting to look at investing in Spain. The Costa Blanca definitely offers you the best value for money out of all the Costas and €160k is plenty to find you a decent apartment or even a 3 bed house in some areas.
If your main purpose is to make some money from holiday rentals, I would look into the following areas, as they pretty much have visitors all year round:
- Orihuela Costa (Playa Flamenca, Cabo Roig, Campoamor, Villamartin, La Zenia)
- Torrevieja
- Gran Alacant
- Altea (bit more expensive)
- Benidorm
Not sure if you know, but on the Costa Blanca, you will have 11-15% purchase costs (property transfer tax is 10% + other things like lawyer, notary etc). This may affect your original budget. You will also only receive 70% mortgage maximum from any bank as you are a non-resident.
Hope this helps and good luck!
There are many other areas where you would get a better return and could find cheaper properties.
#19
Re: Where to Buy / Where to Start!
This sounds like you are an estate agent selling houses on the Costa Blanca "The Costa Blanca definitely offers you the best value for money out of all the Costas and €160k is plenty to find you a decent apartment or even a 3 bed house in some areas.
There are many other areas where you would get a better return and could find cheaper properties.
There are many other areas where you would get a better return and could find cheaper properties.
#20
Lost in BE Cyberspace
Joined: Feb 2013
Posts: 6,148
Re: Where to Buy / Where to Start!
Odd isn't it, and his profile says he's a real estate agent!! If I was suggesting anywhere in the area, and I have lived in may of the places he lists, I would certainly steer clear of the concrete jungle that is Villamartin, only thing near is a golf course, and the shopping is dire, the local mall is mainly bars and cafes, so you would need to travel to Playa Flamenca or La Zenia for real choice.
#21
Just Joined
Joined: Jan 2020
Location: Costa Blanca
Posts: 7
Re: Where to Buy / Where to Start!
This sounds like you are an estate agent selling houses on the Costa Blanca "The Costa Blanca definitely offers you the best value for money out of all the Costas and €160k is plenty to find you a decent apartment or even a 3 bed house in some areas.
There are many other areas where you would get a better return and could find cheaper properties.
There are many other areas where you would get a better return and could find cheaper properties.
Villamartin is certainly more built up and even more new builds going up all the time. Pretty crazy. Zenia Boulevard is a short walk which has some good shops. Also get more for your money there. But I guess it depends what David and his wife is looking for. La Zenia and Playa Flamenca for sure are better options in this area, as close to beach and much more restaurants and bars. Better for rentals
Last edited by christmasoompa; Jan 24th 2020 at 10:34 am. Reason: Sorry, but even if you are answering a question, can't give info on your services as per site rule 9, thx.
#22
Just Joined
Joined: Jan 2015
Posts: 19
Re: Where to Buy / Where to Start!
This sounds like you are an estate agent selling houses on the Costa Blanca "The Costa Blanca definitely offers you the best value for money out of all the Costas and €160k is plenty to find you a decent apartment or even a 3 bed house in some areas.
There are many other areas where you would get a better return and could find cheaper properties.
There are many other areas where you would get a better return and could find cheaper properties.
I 'd quite like to hear a few places where I might be able to use a house for winter and rent out for summer. Many thanks!
#23
Lost in BE Cyberspace
Joined: Feb 2013
Posts: 6,148
Re: Where to Buy / Where to Start!
<snip> Would be interested to know the other coastal areas that are cheaper and give a better holiday rental return. Which places in particular?
Villamartin is certainly more built up and even more new builds going up all the time. Pretty crazy. Zenia Boulevard is a short walk which has some good shops. Also get more for your money there. But I guess it depends what David and his wife is looking for. La Zenia and Playa Flamenca for sure are better options in this area, as close to beach and much more restaurants and bars. Better for rentals
Villamartin is certainly more built up and even more new builds going up all the time. Pretty crazy. Zenia Boulevard is a short walk which has some good shops. Also get more for your money there. But I guess it depends what David and his wife is looking for. La Zenia and Playa Flamenca for sure are better options in this area, as close to beach and much more restaurants and bars. Better for rentals
Costa de la Luz
Costa de Marisco
Costa del Sol
Costa Tropical
Costa Vasca
Costa Verde
Costa de Almeria
Costa del Azahar
Costa Brava
Costa Calida
Costa Cantabria
Often even places further inland can offer a higher rental yield and I know a guy who rents out his property in Lleida. We don't rent out our place but if I look around the Girona Province and especially Costa Brava, many properties are fully booked. But as others have said before, the tax man is always waiting.
#24
Re: Where to Buy / Where to Start!
There are many places and every individual case will be different. At the end of the day it depends how much you paid and what others are prepared to pay. Some people manage to buy a ruin that was worth nothing and have the talent to make it desirable with little money. Just to name a few Costas and then you have the islands.
Costa de la Luz
Costa de Marisco
Costa del Sol
Costa Tropical
Costa Vasca
Costa Verde
Costa de Almeria
Costa del Azahar
Costa Brava
Costa Calida
Costa Cantabria
Often even places further inland can offer a higher rental yield and I know a guy who rents out his property in Lleida. We don't rent out our place but if I look around the Girona Province and especially Costa Brava, many properties are fully booked. But as others have said before, the tax man is always waiting.
Costa de la Luz
Costa de Marisco
Costa del Sol
Costa Tropical
Costa Vasca
Costa Verde
Costa de Almeria
Costa del Azahar
Costa Brava
Costa Calida
Costa Cantabria
Often even places further inland can offer a higher rental yield and I know a guy who rents out his property in Lleida. We don't rent out our place but if I look around the Girona Province and especially Costa Brava, many properties are fully booked. But as others have said before, the tax man is always waiting.
#25
Lost in BE Cyberspace
Joined: Feb 2013
Posts: 6,148
Re: Where to Buy / Where to Start!
Yes and this is an interesting article from 2018 but still relevant:The agencia will trace owners either through online platforms or via the land registry. On discovery of an unlicensed premises they will request rental data from the promoters. From July onwards short-term rental platforms are required to provide financial information and will need to include licence numbers with advertised properties. They are also required to send historic data to January 1st last if requested. This will make it almost impossible to promote unregistered properties.
The implications for those with unregistered rental properties, even if rented only periodically, are pretty serious. Firstly, there are substantial fines. Notionally these can be up to €180,000, but to date have been much lower than this.
Any income that can be proven will be subject to Spanish income tax and applicable interest. This information will subsequently be available to the tax authorities, on the basis of an information sharing agreement between tax authorities within the EU.
Any balance of tax and interest will be due at home. In addition, if the property owner wishes to continue renting out the property, they will need to undertake necessary upgrades to the property to meet the quality standards required to become an official tourist rental.
The implications for those with unregistered rental properties, even if rented only periodically, are pretty serious. Firstly, there are substantial fines. Notionally these can be up to €180,000, but to date have been much lower than this.
Any income that can be proven will be subject to Spanish income tax and applicable interest. This information will subsequently be available to the tax authorities, on the basis of an information sharing agreement between tax authorities within the EU.
Any balance of tax and interest will be due at home. In addition, if the property owner wishes to continue renting out the property, they will need to undertake necessary upgrades to the property to meet the quality standards required to become an official tourist rental.
#26
BE Enthusiast
Joined: Jan 2020
Posts: 660
Re: Where to Buy / Where to Start!
The area around la Zenia, San Javier etc have been hit twice this year with severe flooding. Its basically a valley that fills up with water. Extensive house building over the last decade and little attention paid to infrastructure and drainage means it cant deal with these storms. I know 2 people with fincas who have spent thousands this year dealing with damage to their properties.
#27
Re: Where to Buy / Where to Start!
<snip> Would be interested to know the other coastal areas that are cheaper and give a better holiday rental return. Which places in particular?
Villamartin is certainly more built up and even more new builds going up all the time. Pretty crazy. Zenia Boulevard is a short walk which has some good shops. Also get more for your money there. But I guess it depends what David and his wife is looking for. La Zenia and Playa Flamenca for sure are better options in this area, as close to beach and much more restaurants and bars. Better for rentals
Villamartin is certainly more built up and even more new builds going up all the time. Pretty crazy. Zenia Boulevard is a short walk which has some good shops. Also get more for your money there. But I guess it depends what David and his wife is looking for. La Zenia and Playa Flamenca for sure are better options in this area, as close to beach and much more restaurants and bars. Better for rentals
My sister lives on Villamartin and she needs a car to get to the small shopping centre there and then there is the Plaza where the bars and restaurants are, which is a nice area but as you need a car to get there then that would ruin a drinking evening. I have stayed at her villa several times and find the whole area very depressing as there are very few bars/restaurants or local shops. There are no bus stops within the crowded estates and can be a tiring uphill distance to a main road. Villamartin area is not in walking distance to La Zenia shopping centre or the beach areas. I wouldn't recommend it to anyone looking to buy property.
Steve
#28
BE Enthusiast
Joined: Jan 2020
Posts: 660
Re: Where to Buy / Where to Start!
20 years ago Villamartin was the place to live. The first groups of Brits moved there. El limonar school was the school to go to. The square had restaurants etc. It was quite a nice place. Then they started in Playa Flemenca and everyone moved. I should imagine a new place will emerge again. Young scandanavian are buying flats in torrevieja as rental properties and living off the proceeds, this plus digital lifestyle seems to be the latest way of funding a life in spain
#29
Just Joined
Joined: Jan 2015
Posts: 19
Re: Where to Buy / Where to Start!
Thanks for your reply. I am retired, based in uk, want to spent main winter in Spain maybe 80days +45days+30days; dont mind a lot of visitors, dont have to rent out.
I have researched the following places:
Torrevieja, near airports, cheap house, a bit rough, no good sandy beach
Alicante near airports, cheap house
Benidorm near airport, reasonable house price, good beaches, a lot of visitors
Malaga near airport, high house price, good beaches, a lot of visitors, warmer
Almeria cheap house , warmer
would like to have opinions from those who already in Spain. Thanks a lot!
I have researched the following places:
Torrevieja, near airports, cheap house, a bit rough, no good sandy beach
Alicante near airports, cheap house
Benidorm near airport, reasonable house price, good beaches, a lot of visitors
Malaga near airport, high house price, good beaches, a lot of visitors, warmer
Almeria cheap house , warmer
would like to have opinions from those who already in Spain. Thanks a lot!
#30
Just Joined
Joined: Jan 2020
Location: Costa Blanca
Posts: 7
Re: Where to Buy / Where to Start!
Hi,
My sister lives on Villamartin and she needs a car to get to the small shopping centre there and then there is the Plaza where the bars and restaurants are, which is a nice area but as you need a car to get there then that would ruin a drinking evening. I have stayed at her villa several times and find the whole area very depressing as there are very few bars/restaurants or local shops. There are no bus stops within the crowded estates and can be a tiring uphill distance to a main road. Villamartin area is not in walking distance to La Zenia shopping centre or the beach areas. I wouldn't recommend it to anyone looking to buy property.
Steve
My sister lives on Villamartin and she needs a car to get to the small shopping centre there and then there is the Plaza where the bars and restaurants are, which is a nice area but as you need a car to get there then that would ruin a drinking evening. I have stayed at her villa several times and find the whole area very depressing as there are very few bars/restaurants or local shops. There are no bus stops within the crowded estates and can be a tiring uphill distance to a main road. Villamartin area is not in walking distance to La Zenia shopping centre or the beach areas. I wouldn't recommend it to anyone looking to buy property.
Steve
If you dont want built up areas then you will need to go more inland, as most of the coastal areas in Costa Blanca are built up. Torrevieja is even more built up and very busy.
Sunseeker123 - Torrevieja has a couple of decent sandy beaches; Playa del Cura and Playa de los Locos. They are not massive beaches. The bigger beaches are in Guardamar del Segura and Alicante + more north. Better winter towns (i.e. ones that still have a good amount of tourists visiting in winter) are:
Orihuela Costa
Torrevieja
Gran Alacant (more residencial and spread out bars. Only 1 beach)
Alicante
Benidorm
Altea
Javea
Denia
Calpe
Valencia is also very nice, but I have only visited once, so dont know much about the area.
What are the most important things for you to have in the area that you will have your property?