Buying A Property In Torrevieja Spain

Buying A Property In Torrevieja Spain

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In the last couple of years the Spanish property market has fallen by up to as much as 40%, and with many retired British nationals wanting to return to the UK as the value of the pound fell against the Euro, there are plenty of low cost property bargains to be found. Add to this situation the excess of newly constructed properties in the Costa Blanca region, and now may be the perfect time to pick up a property bargain with many people desperate to sell.

If you are thinking of purchasing a property in the Costa Blanca, the Torrevieja region located midway between Alicante and Murcia airport has some great value properties. The Torrevieja area is a great location for purchasing a buy-to-let property with many agencies available to manage holiday lettings.

Here are some typical property prices for the Torrevieja region:

1/2 bed apartment: 60-80,000 Euros
2 bed house with a small garden: 90-100,000 Euros
3 bed house with garden 110-130,000 Euros

Nearly all properties have access to a communal pool, and most will only be a few years old. If you are prepared to consider buying a property a few miles from the coast the prices will be even more competetive in areas such as Algorfa and Orihuela. In land the temperatures will be a few degrees cooler in winter, and slightly warmer in summer. It is also worth noting that properties built in the hills around torrevieja will also have a slightly cooler climate, depending on the height above sea-level.

To obtain a Spanish mortgage, you will require at least a 40% deposit, and allow around 10% on top of the selling price for taxes and fees. So if you see your future away from the gloom of the UK, or you would like to invest in a buy-to-let property in the sun, now may be a good time to invest.

Torrevieja is the fastest growing region of Spain, and looks like a great area to invest in for the future.





About the Author:
Matt May is an internet journalist who writes many articles for the travel industry. He is also a director of Blue Valley Car Hire.

If you require a rental car for your stay from either Alicante or Murica airport please visit our car hire in Alicante and Murcia website to book a rental car online.



Article Originally Published On: http://www.articlesnatch.com


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