Back in the 1970s property in Spain went for a song, a few thousand and you could buy a fantastic property but due to the legal differences between the UK and Spanish property markets many people had problems and lost their money. The ones that managed a problem free purchase and were able to find the skilled workforce necessary to renovate their finca to UK standards ended up with a fantastic investment as well as a lovely property.
With time, legal issues became less, standards were normalised and prices went up but there were still bargains to be had. The British invasion of the Spanish property market had begun and the dreamed of holiday home became a reality for many.
By the year 2000 as far as a holiday home in the Costa Blanca was considered it was a guaranteed investment, so much so that 100% mortgages could be easily arranged and the Costa Blanca was one of the most popular Tourist destinations for British holidaymakers.
Its mild climate, modern facilities, beautiful beaches and countryside together with the fantastic choice of city, beach or village properties available made the Costa Blanca ‘the’ place to buy a Spanish property and both the area and the British immigrants profited greatly from the relationship. New apartment blocks and villa developments sprang up seemingly overnight by the beaches and in the towns and were quickly snapped up.
The recession and its influence on the property market has brought about a decline in the market. Distressed sales are common and yet again a bargain can be had for under £100,000. It is a buyers market and for those who have the cash to invest it is considered by many, yet again, to be the perfect time to buy a Spanish property.
The Costa Blanca despite its high foreign population and modernisation has managed to keep its integrity, character, natural beauty and quaint charm and is therefore still a very popular destination for many and looks as though it will continue to be for many years to come.
