An article from Kyero.com, looks at Britain’s love affair with Spain and some of the best places to invest your hard earned cash…

Spain, the UK’s favourite holiday location for years, has literally become a home away from home for the Brits. Since the mid 1990’s, Spain has been the number one choice with UK holidaymakers and its popularity keeps growing. In 2005, Spain saw a staggering 13,864,000 UK tourists.

Investing in Spain
They’re not just coming for holidays anymore. Every year, more UK families and young couples are choosing to leave the endless grey skies and set up home in sunny Spain. Spain is also still a key player in the buy-to-let and investment property markets, despite rising competition from emerging markets in Eastern Europe - the likes of Bulgaria, Romania and Croatia.

Being a mature market does have its advantages. Spain offers low interest rates and sustained long-term growth - something which these new emerging markets can’t guarantee. Spain also has an infinitely better climate than Eastern Europe, the Canary Islands in particular, which is a big factor when it comes to year round rental yields.

It’s debatable also, whether these emerging markets will eventually establish the same UK expat communities that exist more established markets like Spain and France.

Where in Spain?
According to the Kyero, Malaga, Granada and Alicante are the most popular regions in terms of Internet searches but Almeria and Valencia is where to look if you want a property at a price well below the national average with strong capital appreciation and rental potential. The Canary Islands, with year round sunshine, are probably the best buy-to-let location in the country.

Almeria
Located in southeastern Spain, this beautiful province, famous for its desert-like landscape, endless blue skies and intense light has been the setting for many spaghetti westerns. It’s also one of the best scuba-diving locations in Spain and just a short drive from the Sierra Nevada ski resorts.

It’s a land of contrasts with unspoilt coastal fishing villages and picturesque towns like Mojacar - one of eastern Spain’s best-kept secrets.

In recent years however, the region has become more popular. There are now numerous new hotel resorts and golf developments. Almeria’s airport is now served directly by a number of budget carriers, including Easyjet, Ryanair, Monarch and Flybe.



Although, development is increasing all the time, Almeria is still relatively untouched compared to neighbouring Malaga province. Property is cheaper now but will no doubt go up as development continues.

Valencia
Valencia on the eastern coast, directly across from Madrid also offers excellent value compared to the more popular tourist traps. Between 2005 and 2006, the region saw a steady rise in property values.

In Castellon (Northern Valencia) there was an increase of “35% from €167,000 in May 2005 to €225,000“.

The Costa Azahar is another area well worth looking at. This idyllic stretch of coastline boasts over 112 kilometres of unspoilt Mediterranean shores and a dazzling 320 days of sunshine a year. Properties here were 8% cheaper than the national average in 2006.

The capital (Valencia), Spain’s third largest city is vibrant, cosmopolitan and offers everything you’d expect from a major urban centre.

The 1992 Olympic games held in nearby Barcelona had a very positive impact on the city’s property market. The 2007 America’s Cup held in Valencia is likely to do the same.

Millions of euros have already been pumped into the infrastructure. There’s now a new high-speed rail link from Madrid and Valencia’s main airport has been extended. There are regular low cost flights from the UK.

Buy-to-let Hotspots - Gran Canaria
Gran Canaria, one of the last European paradise isles offers one of the most spectacular natural landscapes in Spain.

It’s a miniature continent with lush green forests, exotic wildlife and flowers, massive sand dunes, spectacular beaches, formidable snow-capped mountain peaks and huge volcanic craters.

The Canary Islands are the only genuine winter sun destination in Spain. Temperatures rarely drop below 18C or rise above 25C and it’s nearly always sunny. It’s perpetual springtime of these fortunate isles.

In Spain, a two-bedroom property can be rented out for approximately 100 euros per night during the peak seasons of July and August. On Gran Canaria, because of the climate, it’s peak season from January to January - all year long. Buy-to-let investors can make substantial earnings. Click the following link for more information on Gran Canaria Real Estate.

Spain has everything you could possibly wish in a retirement location - the warm sunny climate, large UK expat community, low cost of living, beautiful beaches, spectacular landscape, healthy outdoor lifestyle, less crime and significantly less stress.

In a survey of 400 people from the UK, Kyero found that 26% of them saw Spain as the ideal retirement location because of the “warmer climate, sociable atmosphere and reduced taxes”.

It’s no wonder then that “Britons invested £12 billion in Spanish property in 2004/05”. The average price they paid for properties a reported £160,000, according to Kyero. The typical type of investors is male between 40 and 60 years old.

It’s not just UK investors who have an interest in Spain. Kyero regularly get enquiries from the Portuguese, American, Dutch, Japanese, Canadian, Australian and Swedish. It appears that everyone wants a piece of the Iberian Peninsula.

Properties Type & location
When it comes to Spain, Britons are mostly looking for studio apartments. Two and three bedroom villas are also highly sought after. The majority of UK homebuyers are looking for a Spanish resale property.

On Gran Canaria (Canary Islands), there’s a big demand for one-bedroom apartments with a swimming pool.

In Alicante, on the eastern coast, three bedroom apartments are a popular choice and in Girona (Northern Spain) UK homebuyers are largely looking for three bedroom villas.

The survey revealed that on average, UK investors are willing to pay between €150,000 to €200,000 for property in Spain.

According to the survey, 97% of the respondents said location was one of the most important factors when choosing a property. The most popular parts of Spain with UK homebuyers are Alicante, Granada and Malaga.

Accessibility is also important. People need to be close to amenities. The most important ones being shops, the local hospital, bars and restaurants, chemists, public transport, the police station and the airport.

Finding the Right Property
The Internet is undoubtedly the most useful resource for anyone looking for properties abroad. It provides everything from property listings and local area information to mortgage advice and buyer’s guides. 71% of those surveyed said they were using it to find information.

For a comprehensive range of overseas investment property listings try the following link - Diasoleadoinvest.com

Brits Around the Globe
The past few years have seen growing numbers of UK residents emigrating abroad to sunnier, more exotic locations, in what looks like a mass exodus.

There are now over 40 nations with at least 10,000 permanent British residents, according to a recent survey by the Institute for Public Policy Research (IPPR).

Spain, France and Italy are still some of the most popular locations for UK investors and homebuyers but there also been a growing trend towards more far-flung destinations.

In the United Arab Emirates (including Dubai) there are 55,000 UK nationals, Pakistan is now home to 47,000, in Singapore there are 45,000, Thailand has 41,000 and China has 36,000.

With the increase in the numbers of budget airlines and more and more direct flight options, people are travelling now more so than ever before. The world appears to be getting smaller and smaller.

Overseas investors are thirsty for new destinations and opportunities. They’re eager to find new emerging markets or discover new areas in established markets. In order to maintain sales, estate agents and developers are having to adapt and cater to this more globally demanding investor.

They now need to be able to provide access to property listings and area information from as many locations as possible - everywhere from Cape Verde to Slovakia and way beyond.

Hidden, real Spain is what they’re after. Somewhere authentically Spanish, devoid of mass tourism with little or no appeal for other UK buyers.

Ironically, as most people now have this same attitude, what ends up happening is that, instead of moving into ‘real’ Spain, homebuyers end up creating and living in foreigners’ ghettoes. The locals simply leave - they sell at a profit and happily buy in a modern urbanisation.

With so many Brits now living in Spain, it’s almost impossible to find a part of the country where you won’t bump into us. Still, the dream of finding that genuinely Spanish piece of real estate in an undiscovered idyllic town persists.

Finding that rambling, rustic, uneven surfaced property with panoramic views out over Spain’s endless green landscape - one that’s just waiting to be transformed into your version of Iberian chic - is all part of the challenge; part of the dream.

Featured Location - Fuerteventura
Fuerteventura, located just 100km from mainland Africa, is the second largest of the Canary Islands. Unlike other crowded, noisy, resort-ridden Spanish hotspots, Fuerteventura remains a relatively undiscovered paradise. Of its 150 spectacular sandy beaches, many of them are sparsely populated and some seldom visited at all.

It’s on the same latitude as Florida and Mexico and has similar weather conditions - warm, dry and sunny all year long. Temperatures range from a comfortable 17°C in January to cosy 25°C in August. Water temperatures remain warm all year long.

Apart from the beaches, this semi-desert island doesn’t really have much to recommend in the way of tourist amenities or attractions. Thankfully there’s no mass tourism or mega resorts (yet).

It does however, have its fair share of day-trippers from the more touristy resorts on Lanzarote and Gran Canaria. Fuerteventura also attracts a large windsurfing crowd, with excellent conditions and many international competitions being held throughout the year.

The two main resort towns on the island are Caleta del Fuste and Corralejo.

Landscape
Fuerteventura, meaning ”immense luck” is the second largest of the Canary Islands. This desert by the sea stretches for 98km north to south.

The landscape is similar to that of Morocco and the Western Sahara Desert - barren, arid and with sparse rainfall. Inland, this rocky-desert landscape consists of gentle sloping hills with idyllic yet simple flat-roofed whitewashed Spanish villages. 


Beaches
Apart from its surreal desert-like, isolated Spanish landscape, Fuerteventura’s only claim to fame is its beaches, which are often described as the best in Europe.

Fuerteventura is home to over 50kms of stunning white and golden stretches of sand, bathed by crystal clear warm turquoise waters. It’s a wind and wave surfer’s paradise and also a popular spot for big Game Fishing and scuba diving.

If you’re looking for a place away from the masses, where you can enjoy endless blue skies and warm temperatures in peace and quiet, then Fuerteventura might well be worth a visit.

Fuerteventura Property for Sale
Here’s some of the latest developments on the island…

Mirador de Lobos Golf, Corralejo, Fuerteventura
Mirador de Lobos is a unique development divided into 150 high quality semi-detached villas and duplexes.
Property Type: Villa
Number of Beds: 3
Number of Baths: 2
Interior Area: 118 m2
Exterior Area: 300 m2
Price in Euros: €330.000
Price in Pounds: £237.009

Montaña Roja Residencial, Corralejo, Fuerteventura
This stunning, exclusive development of 75 high-quality semi-detached villas, is located in the Parque Natural area of Corralejo.

Property Type: Town House
Number of Beds: 3
Number of Baths: 3
Interior Area: 120 m2
Exterior Area: 66 m2
Price in Euros: €245.000
Price in Pounds: £175.961

Las Palmeras, Corralejo, Fuerteventura
Las Palmeras is the 4th Phase of an incredibly popular development of high quality 2 and 3 bedroom apartments.

Property Type: Apartment
Number of Beds: 2
Number of Baths: 1
Interior Area: 68 m2
Exterior Area: n/a m2
Price in Euros: €162.176
Price in Pounds: £116.476

Research conducted by Spain’s National Statistics Institute has revealed the country’s hottest, sunniest and wettest locations for last year (2006)…

The Canary Islands
Located off the north west coast off Africa, close to the Sahara Desert, it’s no surprise that the Canaries have the best climate in Europe.

Unlike mainland Spain, the Canaries have a genuine year-round warm season. Southern Andalucia is of course much warmer and sunnier than Britain but can get genuinely cold during the winter months. The south of Spain is however, a very pleasant location if you want to escape the November drizzle and darkness.

The Canaries appear to have the lowest rainfall in Spain, which is good news for holidaymakers but perhaps not too good for the local farmers.

Fuerteventura was the driest in 2006 with just 63.1mm of rain falling at the airport. Next came Lanzarote and Santa Cruz de Tenerife, where they received around twice the amount of rainfall as Fuerteventura.

Tenerife
According to the figures Tenerife, the largest Canary Island, came out tops. In 2006 it had an average temperature in of 21.8 degrees centigrade - the highest in the island group. It also had the most sunshine - a staggering 3,565 hours in the year, the same as ten hours every day.

Other Hotspots
Lanzarote followed closely behind Tenerife in terms of temperature. Rota, in Cadiz province in the south west of Spain was the sunniest location on the mainland. Last year the local “gaditanos” received a blazing 3,010 hours of sunshine.

Cold and Wet Spain
If you get tired of all that sunshine and want some genuine cold and damp, head inland. Spain is the most mountainous country in Europe and because of the altitudes can get very cold.

The coldest place in Spain last year was Puerto de Navacerrada ski station, located in the Sierra de Guadarrama Mountains, north of Madrid. The average temperature was a chilling 7.9 degrees for the whole year. Izaña de Tenerife at 2300m in altitude was nearly as cold.

The wettest part of Spain last year was the Labacoa near Santiago de Compostela, in Galicia, northern Spain. The town was drenched with well over two metres of rain.
Many other towns in this lush green region suffered a similar fate.

The darkest regions were all along the Costa Verde (Green Coast) in the north of the country. Asturias, Bilbao and Cantabria received less than half the sunshine of Santa Cruz de Tenerife.

Investing in Tenerife
Tenerife has excellent potential both as a place to live and a place to invest. It has a very high quality of life along with great rental potential.

One of the best ways to research properties and locations on the island is to use the Internet. Any Tenerife Property Search will give you access to property listings, local area information, investment advice, buying guides, mortgage advice and numerous property related articles.

If you’re eager to escape the dark and dismal UK climate for good, Tenerife is clearly the place to buy.

Property for sale in Tenerife
Here’s a few example of what you’ll find online…

Costa del Silencio, Tenerife
2 bed Apartments
An apartment on an older complex, well maintained and ideal for holiday rentals. The property comprises, 2 bedrooms with fitted wardrobes…
Sale Price: €94.500

Guargacho, Tenerife
2 bed Apartments
4 two bed apartments; various floor levels; with community roof terrace and utility room…
Sale Price: €111.000

El Fraile, Tenerife
2 bed Apartments
Two bed apartment; new furniture and doors (in oak); everything new inc. kitchen…

According to Kyero.com (Spain’s leading property portal) the coming years will see less and less golf developments being constructed as pressure from environmental groups increases. So, for anyone looking for that luxury villa set amidst endless lush green fairways, the advice is to buy as soon as possible before there’s no properties left.

As pressure increases and the authorities eventually give in to the various environmental groups, we’ll see less and less golf properties and developments throughout Spain and the Canary Islands.

With an increasing demand for golf properties and falling numbers of available properties, they’re set to become even more exclusive - investors who buy now should expect to make significant returns through rental yields and/or property appreciation.

Effects on the environment
“Developing a golf course entails the clearing of vegetation, cutting forests and creating artificial landscapes, which lead to land erosion and block the soil’s ability to retain water” - Click here for the full article.

Golf courses use up an amazing amount of water and the bigger the course the more they consume. According to The World Wide Fund For Nature (http://www.wwf.org.uk/) “each average golf course uses up as much water as a medium sized town with about 12,000 inhabitants”.

Southern Spain (Andalucia) is one of Spain’s most popular golfing destinations, yet every year for the past four years the region has been plagued by droughts. This is where Spain’s water crisis is at it’s worst.

But it’s not the only area. Some parts of Spain simply don’t have enough water. On Lanzarote, where the landscape is very dry and largely volcanic, de-salination plants have had to be introduced.

Development issues
Many people believe that the need for more golf courses is simply an excuse by greedy developers to build more and more properties.

Overdevelopment has been one of the main causes of Spain’s recent property crisis. Hungry developers simply built too many properties and now they’re seeing many of them go unsold. Property values have dropped. With this decrease, some unfortunate investors have gone into negative equity.

With mass development all over Spain’s popular costal resorts, buying into a golf development is perhaps the only way you can still get guaranteed views of lush green landscapes as opposed to more apartment blocks, a motorway, nightclubs, or even a high-rise building.

Investing in Golf Properties
Although owning your own luxury golf villa, set amidst lush green fairways, under endless blues skies is indeed appealing, it would be careless or short-sighted, not to realise the negative impact these courses do have on the environment.

That said, golf courses provides countless hours of enjoyment for both young and old, all throughout the country and contribute significantly to Spain’s tourism industry.

Any advice for environmentally friendly investors would simply be to choose an already built golf development - thereby limiting further damage.

Golf Hot Spots (Fuerteventura)
Devoid of anything green, this surreal desert landscape has taken off as one of the Canary Island’s most unlikely, yet popular golf locations. Check out the following link for available properties from Montana Roja - Fuerteventura Property for Sale.

Mark Stucklin (Sunday Times Home Section, 16 September 2007), points out - “Recent reports suggest that most holiday rentals in Spain are illegal without a licence, and can incur fines of €30,000 for unsuspecting owners.”

Frightening news for many Britons - especially those hoping to pay off the mortgage through renting. But is it all bad news? The whole issue seems to be surrounded by
speculation, confusion, half-truths and oftentimes just plain wrong information. It’s Spain remember - things are never as they seem…

The truth is that, for the moment, most property owners are completely unaffected by the licence situation. You’ll only really need a licence in certain parts of the country and in those areas the law is rarely enforced properly.

The laws in Spain
Spain is notorious for its laid-back “manana, manana” lifestyle. In some cases, the same attitude extends to legal procedures. Also, with so many “illegal” properties being rented out all the country, it’s almost impossible to effectively enforce these license laws.

Online there are literally thousands of properties advertised for rent in both Spain and on the Canary and Balearic Islands. A significant proportion of these are owned by British property owners who have no idea about licence laws and therefore, whether or not they are breaking these laws.

Even if people are aware of the rules and regulations concerning tourist rental licences, most of them have difficulty interpreting them, as they are so unclear.

It’s certainly confusing - as with a lot of things in Spain. The rules concerning tourist rental licences vary widely throughout the country.

In Murcia you have to register with the department of tourism if you want to rent out your property to tourists, whereas in most other parts of Spain all you have to do is tell the local government about your plans to rent it out.

Ultimately, the Spanish government probably just wants to keep tabs on who’s receiving money from holiday rentals so they can make sure the correct taxes are received.

Which parts of Spain actually need a license?
“I can categorically state that you don’t need a licence to rent out a private apartment or villa to holidaymakers on mainland Spain”, according to Lee Jones, head of OPI Property Management and Lettings.

Apparently they’ve had their specialist lawyers confirm this, pointing out that, “with 3,500 holiday rentals this season, we can’t afford to make a mistake.”

It’s a different story on the Balearic Islands though, Mallorca in particular. Here you’re not allowed rent out private residential apartments. “The only kind of residential property you can rent out is a detached villa, but only if you have a licence”, according to Isabel Loeffler, (head of Loeffler Legal Centre, on Mallorca).

It gets worse…

The tourist department on Palma are now saying that it’s not even possible to get a licence to rent out a detached property anymore.

Buy-to-let investors could always choose an “apartamento turistico”, which is a purpose built property, intended solely for renting out.

For homebuyers wanting to make a few quid renting out while they’re not there, they’re not really suitable. Apartamento Turisticos carry a lot of restrictions and potential extra costs.

So what can you do?
It still seems unclear. To be on the safe side, speak to a local Spanish lawyer who should know the specific licence situation in whatever part of Spain you’re considering investing in.

The Spanish authorities deregulated the property market back in 2000. Up until then you had to be a member of the one of the two professional real estate associations - API and GIPE, to sell property.

Since 2000, basically anyone can play the role of intermediary in Spanish property transactions, regardless of professional qualifications. This is how so many “cowboy” operators have been allowed to set up.

Choosing a good agent is the key to a safe and happy investment. In Spain, the levels of competence and range of ethical standards can vary greatly from one agent to the next.

Different types of agents
The Spain, there’s a number of different types of estate agents to choose from - all offering varying levels of service and standards.

Spanish Estate Agents
Most of the Spanish agents belong to the API or GIPE, which indicates a higher level of training and professionalism. Sometimes however, these titles are abused by certain agents making it hard to know if they genuinely are a member or not.

Most Spanish agents focus on the local property market. The larger ones will sometimes have nationwide chains and networks throughout Spain and the Canaries.

Most of them don’t speak English and this is why so many UK buyers choose foreign estate agents. This is changing however. In most of the popular resort area in Spain and the Canary Islands there’s an increasing number of Spanish agents with English-speaking staff.

Foreign Estate Agents in Spain
There’s a huge number of foreign owned-and-run estate agents in Spain and the Canary Islands - English, Irish and German, in particular. They usually focus on buyers and sellers from their home countries. Buyers want to buy from someone who seems familiar, and most importantly, speaks their own language.

Over the years foreign estate agents have come under much criticism. There’s been numerous cases of incompetent and unscrupulous behavior, often involving blatantly excessive commissions and aggressive time-share style sales techniques - anything to close a quick sale.

Typically, these “fly-by-night” operators can be found in Spain’s popular resort areas, like the Costa del Sol, Costa de Almeria, Costa Calida and Costa Blanca.

Estate Agencies Based in the UK
UK-based agencies were drawn into the Spanish market after seeing the massive numbers of English people looking for property in Spain. They were also attracted by the generous commissions. The obvious advantage for the buyer is that they can get all the advice they need (in English) right on their own doorstep.

Multi-listing Networks
This is a convenient method, whereby a number of foreign agents set up a network so they can share clients, properties and commissions. It’s simple - one agent might have a buyer but not the right property - the other agency might have that property but not the right buyer.
So they collaborate, make the deal and share the commissions - it works out for everyone.

This is the ideal situation. What often happens though, is because they’re only getting half the commissions each, they often increase the commissions. So you end up paying more money for a service that’s of little extra value really.

Background (Buying Property)
Just like anywhere else in Europe, buying or selling a property in Spain can be a messy process and there’ll often be issues that can keep you awake at night.
In Spain you run a similar set of risks when buying or selling as you do back in the UK. Therefore, a lawyer is required by both sides to protect both their interests.

Resale Purchases
If you’re buying a second hand (resale) property not only will you have to check that the owner of the property is who he says he is but also that the property corresponds to the details in the title deeds.

In Spain, debts stay with the property, not the owner. You need to make sure there in no outstanding payments due on the property before you buy.
This is just the beginning. There are countless other checks that need to be performed before you can sign any contract. Other issues include everything from building permits and water rights to community fees etc…

Buying Off-Plan
“Unless the contract you sign nails down the developer to delivering a clearly specified property, with all the necessary licences and guarantees, and more or less in the time frame agreed, you run all sorts of risks.”
For off plan purchases a lawyer is also essential, especially if you don’t want any unpleasant surprises - right after you’ve signed half your life away.
With new developments all you’ll have is a signed contract promising certain things - nothing concrete (literally). What’s written down in the contract is your only security. A Spanish lawyer, working for your interests, can make sure that the contract suits you and at the same time is reasonable and realistic.

Using a Lawyer
Whether it’s a resale or an off-plan investment, it’s best to use lawyer in Spain. Some real estate agents will tell that you don’t need a Spanish lawyer because the Notary will give you all the legal protection you need. This is often said to protect their own best interests - not yours.

An Independent Lawyer
“63% of British buyers end up using the lawyer recommended to them by their estate agent. Of these 20% report being very dissatisfied with the legal service they receive, compared to just 2% who use a lawyer that they have found themselves.”

Not many UK buyers know where to find a Spanish lawyer and often assume that it would be safer to just use one recommended by the agent or developer. It’s certainly easier - in the short run.

The problem is that most estate agents are highly motivated to close sales - often sales that pay huge commissions. They’ll recommend any lawyer who’ll facilitate this outcome, especially their in-house lawyer.

Buying a property is a huge investment. With something this valuable, you’ll need a lawyer who you can be certain is working for you and you alone. You can never be too sure about what kind of relationship the lawyer and real estate have - so it’s best to find your own.

It’s also a very good idea to find a Spanish lawyer before the purchase process begins because once it starts, if disputes arise, it might be too late.

Find a lawyer before you contact the agent or developer, so you won’t be pressurised into using theirs.

Finding an Independent Spanish Lawyer
Independent English-speaking Spanish lawyers are quite easy to come by in both Spain and the Canary Islands. The obvious approach is to just ask friends or acquaintances for a recommendation. You can also try the nearest British Consulate who can easily supply you with a list of English-speaking lawyers your region. Click here for a list of all the British consulates in Spain.

Although thousands of second homebuyers successfully invest every year, there are still some considerations to be taken into account. Getting a mortgage for example. It’s often more difficult to secure a second mortgage than to secure a primary mortgage. Higher down payments are often required too as lenders are less confident that borrowers for a holiday home will stay up to date on their payments.

Even if you’re fortunate enough to be afforded a second mortgage, there are still a number of financial and lifestyle considerations to take into account before you go ahead.

The costs
Apart from the actual cost of buying the property, you’ll also have to pay and keep paying additional costs like property taxes, and utility bills etc. - all the traditionally costs you have to pay on your primary residence. Most people seem to forget this, seeing as they’ll only be there for short periods during the year.

If you’re renting the property out you can sometimes be no longer eligible for certain tax exemptions and in some cases even liable for more tax payments.

Your holidays
You should also ask yourself if you’d you like to spend the rest of your life going on holiday to the same destination or would you like to travel to new places. If so, you might end up spending additional money on hotels and other services that the holiday home was meant to negate.

Also, whether or not the location is suitable for holidays all throughout the year - in Spain for example, it gets cold during winter, whereas on the Canaries you get non-stop sunshine and warmth all year long.

All the costs involved with buying the second home might actually limit your ability to take vacations anyway.

Before you buy…
Research is the key to a safe and sound investment. Before you sign on the dotted line, make sure you thoroughly research both the area and the property. Definitely spend some time there, (if you haven’t already) before you decide.

Have a look around at different property and investment options. Some work out a lot cheaper in the long run. Less expensive timeshares, although not particularly glamorous, can make you feel just as at home as a grand luxury villa but could save you a lot of hassle and substantial amounts on property taxes, fees etc.

What you’re planning on doing with the property (live in it, rent it out etc.) can greatly affect your personal tax situation. So find out exactly what you can and can’t do with it before you decide. Speak to a tax professional. There’s plenty of them throughout Spain and the Canaries - both Spanish and English speaking.

Benefits of owning your own holiday home
Apart from making going on holidays a much more pleasurable experience, buying a second home in a healthy property market can provide long term benefits through property appreciation and short term income through renting. On the Canaries for example, you can rent out at any stage of the year at tourist prices - a quick and handy way to pay off your mortgage.

You can eventually retire to your holiday home.
If after years of watching the place go up in value and making good income from rentals, you decide you want to have the place all to yourself, what’s to stop you - it’s yours.

It’s the type of high-class new development you’d expect from the Canary Island’s leading real estate agent and property developer - Montaña Roja real estate.

Not only does it have excellent investment potential, this area is a fantastic place to live where the residents can enjoy a very high quality of life.

Mirador de Lobos Golf
Mirador de Lobos is located in the north of the island in the stunningly beautiful Parque Natural area of Corralejo. The development consists of 150 top quality semi-detached villas and duplexes, all of which are surrounded by a private golf course.

All properties come fully equipped with 3 double bedrooms, 2 bathrooms a guest room, a spacious lounge/dining room and a separate kitchen. They all have a private garden and a massive roof terrace where you can sit out all day long (all year round), enjoying the balmy climate and endless hours of sunshine.

Being of such high quality, it’s no wonder Mirador de Lobos is in such big demand. Anyone interested is advised to move fast as properties are expected to sell extremely fast.

Investing in Fuerteventura
Fuerteventura is an almost desert-like paradise island with some of the most amazing beaches in Europe - endless stretches of untouched fine golden sand with crystal clear clean blue waters - that are perfect for swimming and surfing all year round.

Located just 100 kms off the west coast of Africa, this surfer’s paradise has become a Mecca for both wind and wave surfing; many international surfing events are held here every year.

Like the other Canary Islands, Fuerteventura has a perfect year round climate. It gets over three thousand hours of sunshine a year.

This is one of the factors that makes the Canary Islands such an attractive investment option, as you can rent out whatever property you own at tourist prices all year round.

Fuerteventura is the second largest of the Canary Islands. It has, until quite recently, been one of the lesser developed but is quickly catching up, mainly because of its surfing potential, fantastic beaches, stunning desert landscape, excellent (year round) rental potential and good value for money properties.

It’s very popular with both English and Irish investors and also with homebuyers looking for an alternative to the more crowded and “touristy” Canary Islands like Tenerife and Gran Canaria.

That said, the island has undergone significant beneficial growth recently in an attempt to meet the demands of growing numbers of investors, developers and tourists. There are already a number of top quality new development schemes finished. The authorities have also greatly improved the infrastructure on the island.

Being in the relatively early stages of development, Fuerteventura has got excellent potential, both as a place to live and as a place to invest. There are still some great bargains to be had.

Montaña Roja
Montaña Roja are in the advantageous position of working both as a property developer and a real estate agent. This means they can offer their clients some of the most competitive prices on the market. By cutting out the middleman, they can pass on savings to the client.

Being one of the most well established and influential agents on the Canary Islands, they’re directly involved in most of the residential property developments here.

Amongst them, the staff at Montaña Roja speak many languages, so whatever nationality you are, they’re sure to be able to communicate with you and give impartial advice about any aspect of buying, investing, renting or selling on Fuerteventura.

They’ll also make every possible effort to find a property fits both you needs and budget.
For more information contact them directly…

Contact details
Montaña Roja
Gestión Inmobiliaria Montaña Roja. S.L.
C/. Nuestra Sra del Carmen, 40
35660 Corralejo
Fuerteventura, Canary Islands, Spain
Sales Office New Developments
Phone: 00 34 928 537 301
Phone: 00 34 928 866 337
Fax: 00 34 928 867 614
Email: info@Montañaroja.com