Holiday home Spain/ Canaries purchase

Dylan123

any thoughts on where might provide the best value to buy a holiday home in spain or the canaries please?

LirW

Depends on what you need and what you're looking for. Spain is going up in price again, rule of thumb is, the more you go away from the tourist destination coasts, the cheaper it gets. My mother permanently settled on Fuerteventura, very inland in some sleepy village and got a 2-bedroom terraced house for 60k. But these finds are rare now and you definitely need a car.

TresGats

There are all types of holiday homes within all budgets all over Spain- be they apartments, townhouses, villas, country houses etc.
Could you be more specific as to your budget & requirements?
It should really come down to personal taste rather than best value. The climate and culture differs a fair bit from North to South, is there any area in particular you feel you might like?

Victor

Note that rules can be very different in other countries, e.g. Spain is compulsorily acquiring all property with 100 metres of the coast by taking 1% of the property each year for the next 100 years.

Be wary of scams.

Fian

If you are buying a holiday home visit the area first - renting, and decide where you would like to live. the real value for money is going to come from finding a place you are happy to return to year after year, rather than having a free choice. The other important thing to bear in mind is maintenance charges/taxes which will probably greatly exceed the rent you would pay to spend a few weeks there each year.

IMO a holiday home only makes sense if you are going to use it for several months a year - presumably in retirement.

Paddytheman

In Playa Blanca, Lanzarote atm. Chatting a few ex pats who paid 200-240k, rental is average €800 pw for 40 weeks per year. Obviously feeling the positive effects from Egypt and all but a pretty good return, requires 60% deposit for mortgage.

jamesthepeach

We were looking into buying a property in Spain, but after doing the sums it is actually cheaper to just rent.
Add up all of the costs, especially management fees and compare to renting.
Remember outside July and august rent is very, very cheap for almost all property in Spain.
Oh, and don't go near an Irish or British agent when looking.
Look on the Spanish property sites.
There are loads of them, just Google.