Spain: Seaside Lifestyle Need Not Costa Fortune

The recent annual Spanish immigration study presented by the Etnia publishing group revealed that there are now 4.48 million foreign residents in Spain, representing almost 10 percent of the 41.12 million population. Of these foreign residents, nearly 17% (761,000 ) are British nationals the majority of whom are based in the traditional coastal resorts of the Costa del Sol and Costa Blanca.

It is not hard to see why, 40 years on, Spain remains an attractive destination for Britons looking to relocate; the combination of a sunny climate, low cost of living, accessibility and a stable economy drives its appeal. However with the latest data from the Kyero Spanish House Price Index revealing that average property prices in the most popular provinces of Malaga and Alicante have reached €307,000 (£221,040) and €250,000 (£180,000) respectively, can affordable Spanish coastal living still be found?

The average property price in Spain according to Kyero.com, remains at €248,000 and when considering the 22 most sought after provinces by potential property purchasers in Spain, 64% display average property prices below the national average.

Average property prices in coastal provinces including Castellon (€245,000), Valencia (€230,000) and Tarragona (€229,000) in the east, Murcia (€215,000), Almeria (€199,000) and Granada (€170,000) in the south east and Asturias (€162,000) in the north demonstrate that living on the Spanish coast need not ‘costa’ fortune.

As Martin Dell, MD of Kyero.com, comments, “The majority of British buyers are still looking for coastal locations and with nearly 5000 km of varied coastline from spectacular cliff faces to white sandy beaches Spain does not disappoint. Prices for frontline real estate will always be at a premium but there are still plenty of bargains to be had up to 5km inland and especially in the lesser known costas such as the Costa Calida or Costa Daurada.”