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Spain's coastal property prices take tumble

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Spain's coastal property prices take tumble
The Costa Brava town of Blanes in Catalonia has been highlighted as a good place to look for beachfront bargains. Photo: Flickr/Albert TM
14:23 CEST+02:00
Prices for some coastal properties in Spain have fallen by as much as 50 percent, a new report by major property portal Fotocasa shows.

Fotocasa has revealed Spain's top regions for beachfront rental bargains, according to a report on Monday in national daily 20Minutos.

In Levante, the cheapest places to rent a summer property are Puçol, where prices have fallen by 12.2 percent, and Sagunto.

Those seeking bargain rentals in Catalonia, meanwhile, are advised to check out Cubelles, Arenys de Mar and Gavá, as well as Palafrugell, El Vendrell and Blanes.

Prices in Andalucia have fallen by approximately 9 percent in San Fernando and Cádiz while Roquetas de Mar and Motril are the cheapest locations in the southern region.

Gijón on the north coast of Spain has seen rental prices tumble by 11.3 percent, closely followed by San Sebastián with a hefty fall of 10.5 percent.

The report highlighted Arteixo as the best place to find bargains in the area.

Llucmajor was the standout choice for budget-conscious renters in the Baleares while Arrecife and Granadilla de Abona got the nod in the Canary Islands.

Responding to the Fotocasa survey, the Property Consultant's Forum agreed this could also be an opportune moment for those looking to purchase property.

It said that "buying a beach property high supply meant bargains and prices have fallen by as much as 50 percent  from the highs of a few years ago."

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