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250k to spend on a property in Spain - too much choice...

(8 Posts)
MrsUltracrepidarian Thu 18-Jun-15 16:45:08

DH has inherited some money and want to buy a place in Spain, but we don't know where to start, and I am worried about what I have heard about 'urbanisation' and properties being demolished.
Any suggestions?

fussychica Sat 20-Jun-15 17:27:05

Having lived in Spain and lost money on property there I would advise not spending that much as the market is still volatile and lots of property is still overpriced/over valued. I would only buy somerhing you are happy to hang onto long term as you may find whatever you buy hard to sell and making money on something in the short to medium term is pretty unlikely. There are bargains still around but do be careful. Old farms cortijos or apartments are usually fairly safe legal wise but depending on the area modern villas can be more risky depending where you are.
Will this be a holiday home? Where in Spain are you thinking of?

Gfplux Sat 20-Jun-15 18:49:39

I suggest you decide on the general area and then rent something. "Living" in an area will give you a much better feel for what you really want.

MrsUltracrepidarian Sat 20-Jun-15 20:26:32

Thanks - I am anxious re the 'urbanisation' situation where properties have had to be demolished. I am interested in the Malaga area as the flights are plentiful. The DC and I are going there for a few weeks when school breaks up next Fri, and the DH will join us later when we have had a look around.

Elisabet31 Tue 23-Jun-15 09:10:51

Hi there, I am a spaniard living in the Uk for a few years now. As fussychica said, I wouldn't worry about old flats, farms, cortijos but be a little bit more cautious if buying fairly new villas, specially for those with sea views on the south of Spain, Valencia, Murcia....

The areas that have been built illegally are usually those ones on the hills very close to the sea.

I would say now is a good moment to buy as the market is quite low if you are not looking to sell quickly, or not looking for a buy to let. If you are just looking for a place for you and your family to enjoy, and you are planning to keep it long term you shouldn't have any problem.

Have you thought about buying on the Costa brava? You have Barcelona and Girona airports, and the area is beautiful and not so overdeveloped. Or maybe one of the Balearic islands? That would be my personal choice but it's not nearly as cheap down there so everything depends on your budget.

It also depends on what kind of place you are looking for, do you want to buy a big villa with swimming pool and lots of outdoor space, or would you be happy with an appartment in the town centre jus 10 minute walk to the beach? Lots of things to consider!!

Zorion Tue 23-Jun-15 09:18:07

We (my family) bought in the seventies and had a nightmare in the nineties when it came out that it had been built illegally. lots of retrospective planning permission to apply (and pay for!)

I would second going slightly further up north. Valencia, Reus, Girona, Barcelona, and I think now Castellon all have airports.

If you buy in the Valencia region, I'm sure there is a rule about no high-rises. Not sure about the other regions. Our place is in a natural park (Sierra D'Irta) and is therefore completely protected from urbanisation. (Alcossebre).

I now live in the north of Spain and 250k wouldn't even get you a one bedroom flat in my town, shock

Gfplux Tue 23-Jun-15 14:48:00

Wher in the Malaga area are you staying. Hoe you are renting as you will then get a good feel for what suites you

MrsUltracrepidarian Tue 23-Jun-15 17:58:34

Thanks - this is really helpful - especially as the tempting looking villas I like are on hill with sea views grin

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