PRICES
ON THE COAST - Asturias, Cantabria and Galicia
If you own or
are considering purchasing a property on the Costa Verde then in your
search you will discover that prices are higher on the coast. Properties
close to the coast are being sold at a premium to those further inland.
But Why?
In the current
econonmic climate prices have reduced significantly in northern spain.
The type of properties worst affected are flats and apartments in
the cities where there has been massive expansion over recent years.
Pressure for significant price reductions on the more rural properties
and especially those in the priveleged positions close to the coast
have lagged behind the rest of the market.
The second home
market has always been prevalent in the Costa Verde with demand coming
from other locations such as Madrid and Barcelona as well as from
foreign buyers. The spanish like to escape the intense summer heat
and the Costa Verde has therefore always been popular.
Price sensitive
purchasers should consider travelling no more than half an hour inland
where the prices of properties can be up to 50% cheaper. There is
also more choice in the lower price brackets and if you are seeking
peace and tranquility then being inland could be the place for you.
Buying on the
coast does not mean that you will have views to the sea and prices
remain relatively high even ten minutes drive inland. A property in
the hills less than half an hour from the coast can be relatively
cheap and the views could be stunning.
"My advice
to purchasers seeking property is to spend a couple of trips travelling
around the different areas and visiting all the estate agents possible.
This way you can get a good idea of the property available and the
relevant prices"
