The world’s most popular destination for overseas property investment, Spain has it all. Great weather, great choice, great food and a great lifestyle combine to create a country which attracts holidaymakers and investors from all across the globe, particularly those sun-starved North Europeans: the Brits, Germans and Scandinavians.

With its combination of cheap and cheerful package holiday resorts, ultra-exclusive residential complexes, traditional towns and pueblos and cosmopolitan cities, Spain’s diversity is its great strength. The north is lush and green, with a temperate climate, proud cities and its own distinct languages (Basque and Catalan), while the southern region is what many would consider ‘real’ Spain – hot, dry, passionate and doused in liberal helpings of sherry, Flamenco, bullfighting and olive oil.

Spain’s cities, often overlooked by holidaymakers, provide a snapshot of the country as a whole. Madrid is one of Europe’s classiest (albeit noisiest) cities; Barcelona fuses stag-party fun with art-gallery refinement; Valencia enjoys sublime weather and sophistication; while Seville is a hot, beautiful metropolis, displaying amazing architecture on every corner while harbouring a lifestyle torn straight from the pages of a Hemmingway novel – laid back yet passionate, richly imbibed yet earthy.

Marbella townhouse in the Old Town

Spain Profile
Capital City: Madrid
Area: 504,782 sq km
Population: 40,341,460
Time Zone: GMT +1
Country dialing code: +34
Currency: Euro (€)

Spain Climate
The northern regions have cool, wet winters and mild summers; the Mediterranean coast has hot, dry summers and mild winters (milder the further south you go); inland Spain experiences extremely hot summers and cold winters; the Balearic Islands have a climate similar to the Mediterranean coastal regions and the Canary Islands have a warm, stable and dry climate all year round.

Spain Property
After years of rapid and then steady price rises, property in Spain has started to level off recently. While still a good investment, the instant capital growth of a few years ago is no longer possible. Instead, property investors should approach the Spanish market with a ten year plan in mind – an investment will pay off, but it will not be an overnight venture.

And nor should it be, because Spain boasts one of the most dynamic property markets in Europe. The Costa del Sol, where the overseas property boom began, still has pockets where good quality property is reasonably priced, particularly in the region east of Malaga around Nerja, where two bedroom apartments can sell for as little as €160,000. For the same apartment west of Malaga, near Marbella, expect to pay somewhere in the region of €260,000, maybe more. Marbella, Puerto Banus, Sotogrande and Sierra Blanca all boast some of Spain’s most sublime residencies so, if you are looking for a luxurious, exclusive residence, look there.

Costa Blanca is a popular region, with lower property prices and a good infrastructure, although the range of property available is not as diverse as the Costa del Sol. The Costa de la Luz, in the south west of Spain, is an up-and-coming region, boasting good accessibility (easily reached via Seville or Cadiz airports), unspoilt scenery and competitive prices - €150,000 should acquire you a newly-built, two bedroom apartment near the coast.
Madrid and Barcelona prices are among the highest in Europe, although the rental demand for a well-located apartment or townhouse will be extremely healthy. Valencia boasts affordable city-centre property, while Majorca is the destination of choice for the high net-worth investor: villas fetching upwards of €5 million are not uncommon.

Spain Flights
Virtually every UK airport will have daily, low cost flights to somewhere in Spain, with Malaga and Alicante airports particularly well serviced by easyJet, Ryanair, Flybe, Monarch, ThomsonFly and BMI Baby. Prices are cheap throughout most of the year, although expect to pay more during peak season (June-September).