Spain's coastal property prices take tumble
Steve Tallantyre · 24 Jun 2013, 14:23
Published: 24 Jun 2013 14:23 GMT+02:00
- 'Don't leave your brain on the plane to Spain' (10 Jun 13)
- 'Spain's laws may deter expat property buyers' (07 May 13)
- Spain cracks down on home rentals to tourists (15 Apr 13)
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."