Costa del Sol 'has bargain properties'

Brits looking to transfer money overseas and purchase property in Spain have been advised that the best place to invest is where there have been price drops and rental rises.

Adrian Warriner, managing director at Spanish-Living.com, explained how regions that offer people the chance to pick up a bargain and gain an income from letting the property are ideal.

He described how those who have invested further afield than the mainland are likely to be drawing a good return.

"The Balearics and Canary Islands fared better than the rest of Spain, with prices down just 2.5 per cent overall, beating the national average over the last 12 months," Mr Warriner stated.

However, he noted there are few deals to be found on the islands and so instead recommended the Costa del Sol.

It was suggested that investors are "spoilt for choice" in the coastal region, as average house prices have dropped by ten per cent in the last year.

Mr Warriner claimed that "outstanding bargains" can be found in places such as San Pedro, Nueva Andalucia and Guadalmina.

They are locations near to the upmarket towns of Puerto Banus and Marbella, meaning they have a "strong all-year-round rental potential".

Other attractions include the "multitude" of activities, golf courses and beaches that can be found in the area.

As a result, Mr Warriner recommended the three locations as ideal investment opportunities for those looking to become buy-to-let landlords.

Elsewhere, editor of SpanishPropertyMagazine.com Will Needham recently claimed that data indicates house prices are still falling in the country and will continue to do so throughout the remainder of 2011.

Therefore, it was suggested that even better bargains could be found if investors hold out on making a purchase until the market nears the bottom.

Posted by Thomas Smith

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