SPANISH ISLANDS v MAINLAND SPAIN
Many of our clients when they first approach us are looking to buy in the Balearic Islands having previously had wonderful holidays there. My wife and I have had fantastic holidays visiting Menorca, Ibiza and Formentera. The only holiday visit to Mallorca was the airport for a connecting flight!!
Before buying property on the Islands you may want to take some of these pointers into consideration.
Islands are just that…….islands! You need to think about this when deciding where to buy and your reasons for buying. There is only so much for you to visit and things to do on an island. We particularly love Menorca but you can go from one end to the other in 45 minutes! Of course Majorca offers more scope for travel as does, for example, Tenerife.
BEACHES: All the islands and the Costas of Spain have wonderful sandy beaches with clear blue water and in summer warm water. So if beaches and sunbathing are your thing you can’t go wrong with the mainland or the Islands.
AIRPORTS: Before buying a property you do need to think about how you are going to get there. This may seem like stating the obvious. You need to see what flights are available from airports nearest to where you live. Please be aware that not all airlines offer a regular service in off-peak seasons. This of course applies both to the mainland and the Islands .There tend to be more frequent flights to mainland Spain particularly to more major airports e.g. Alicante, Barcelona, Valencia, Malaga etc. So if your idea is to “pop over” when you have free time then this needs to be taken into account. In general there are less frequent flights to the Islands and even well-known airports often don’t offer a daily flight service especially out of season.
SALES TAXES AND RENTAL: Sales taxes will vary depending whether you are buying a new or re-sale property. Even with resales the percentage charged will vary in different regions of Spain. Rules regarding rental, both licensing and taxes, also vary from region to region. Take care with the legal status of different types of renting out – for example airbnb.
RESTAURANTS/BARS etc: Just as in the UK seaside resorts do “close down” in off-peak season. Those beach bars you loved may not be open if you visit at quieter times of year. Not all restaurants will be open or they may have reduced opening hours. This is particularly true in the Islands, as without tourists, not all establishments would have enough local clientele to stay open all year round. A big exception is Tenerife with its all year round warm climate which has a strong winter season.
PROPERTY PRICES: There are good quality bargains to be had both in the Islands and mainland. We have found that people are surprised that property on the Islands tends to be more expensive. Supply and demand comes into play here. Some of the price difference will be due to the availability of land to build on in the first place. You may find that on the mainland you can afford a villa whereas only an apartment on the Islands.
FURTHER AFIELD: Mainland Spain offers wider possibilities for visits of all kinds. Local, regional and country-wide transport links are good. The road links are excellent and many areas have access to high-speed rail links. So, if you are thinking of regular holidays, semi-residency, or retiring to Spain etc this may be the deciding factor. Being near major conurbations with good transport links gives plenty of opportunities to visit many wonderful towns and cities, areas of outstanding natural beauty and cultural activities. The Islands do offer these but on a smaller scale which may suit you better. Getting around with local transport can be fun if there is some available. If you are not planning to hire a car for visits to your property you need to consider how you are going to get around for your every-day needs.
For further details of any of the above please contact us. We are a totally independent company with over 30 years of experience.
http://pintospanishproperty.blogspot.com/2016/08/spanish-islands-v-mainland-spain_12.html
You May Also Enjoy
£3bn tenant deposit shake-up on the cards
Brexit housing market winners and losers
The Rental Market is Rebalancing
Dispelling the top five biggest letting agent myths
A fifth of Gen Z would move 25 miles or more for affordable housing
