75 Flavours of Spain
By Rhiannon Williamson
Spain is a country of contrasts - in geography, gastronomy, economy, language, culture and climate. The same is true of its property market. In fact, there's a distinct property market in each of Spain's 75 regions, provinces and islands.
For some, Spain is all about its climate and culture. Others see it as a place of adventure and opportunity. Depending on what you want from Spain, you’re likely to be examining some very different locations with equally divergent property markets.
If you’re seeking climate and culture how about the Andalucian city of Huelva and the province of the same name?
The city of Huelva is an attractive port in this southern coastal province which borders Portugal – in fact, the city is equidistant between Faro in Portugal and Seville in Spain.
In the late 15th Century, Christopher Columbus put Huelva on the map. Setting off from and returning to Huelva on his voyages of discovery to America, it was here where he also recruited much of the crew. Today Huelva province enjoys a robust property market largely due to its fabulous Mediterranean climate, and easy access from three international airports.
According to the latest Spanish House Price Index from Kyero.com, the average property price in the Huelva province is now EUR 261,000 - 5% above the national average which stands at EUR 247,000 in September 2007. The Spanish Ministry of Housing concurs with these figures and recently priced the average cost per square metre of property in Huelva at EUR 1,762.
If you’re looking for something other than sun, sea, sand and relaxation in Spain, how about Huesca in the northern region of Aragon?
The province of Huesca borders France, the local language is Aragonese, the entire region has a cooler climate, and the city of Huesca is industrialised. At first glance it would seem to have relatively little to offer to the property investor.
However, again according to Kyero.com, the average property price in Huesca is EUR 288,000 and, according to the Spanish Ministry of Housing, EUR 2,083 per square metre – both far above the national average and more expensive than Huelva.
The region of Aragon is one of Spain's most affluent and, in particular, the province of Huesca offers comprehensive employment opportunities. This leads to a strong professional demand for rented accommodation which in turn leads to a healthy market for buy to let property investment. The rugged province of Huesca is a favourite for thrill-seeking adventure tourists who buoy up the property market with year-round demand for rental accommodation.
Where Huelva attracts holiday-makers, retirees and second-home hunters because of its climate and culture, Huesca is a thriving commercial centre, offering both opportunity and adventure. In almost every respect Huelva and Huesca provinces are poles apart and they each appeal to property investors for different reasons.
Make sense of Spain's 75 property markets with Kyero.com - Your essential guide to Spanish property, winner of 2007 Best Spanish Property Portal at the CNBC International Property Awards.
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