HEALTHPLAN MAGAZINE

Spain has long been a favourite for Brits wanting to relocate from the UK, with around 360,000 currently registered as permanent residents here.

According to the Office of National Statistics website, the average UK house price in June 2021 was £268,000, with an increase of 8.9% in the year up to April 2021. This is a whopping £31,000 higher than in June 2020.

In comparison, according to Spain's Property Appraisal Society, the average price of a new house in Spain so far in 2021 is €223,380 or £191,683.

At the beginning of 2021, Spanish property portal Idealista claimed that the average cost of a Spanish property is estimated at €1,779/m2, a figure that is 0.9% higher than the previous year.

These figures are of course only the ‘average’ price but there are many bargains to be found in Spain and a lot of cheap places to buy, with prices below €500/m2, if you know where to look.

So where can you find the cheapest property to buy in Spain?

According to a recent study by Idealista based on its price report for July 2021, currently, the cheapest place to buy in Spain is El Carpio de Tajo, in the province of Toledo. Here you can grab a property for an average of just €304/m2.

Other cheap areas where you can buy property for under €490/m2, include the municipality of Moclin in Granada (€456/m2) and Tobarra in Albacete (€456/m2), Bullas in Murcia (€457/m2), Bembibre in León (€457/m2), Pinos Puente in Granada (€468/m2), Briviesca in Burgos (€473/m2), Miguel Esteban (€476/m2), Gerindote (€476/m2) and Calera y Chozas in Toledo, Castuera in Badajoz (€481/m2), Chirivel in Almería (€482 /m2) and Balaguer in Lleida (€486/m2).

The five cheapest towns in Spain in which to buy property are the Palencia town of Barruelo de Santullán (€383/m2), Cebolla in the province of Toledo (€401 euros/m2), the towns of Almadén (€407/m2) and Herencia (€413/m2) in the province of Ciudad Real and Mota del Cuervo in Cuenca (€416/m2).

Source: Idealista

The Idealista study also looks at the cheapest towns in each of Spain's 17 autonomous communities and the cheapest property was found in Castilla-La Mancha in the province of Toledo, as mentioned above.

The only Spanish region where the average prices were over €1,000/m2 was the Balearic Islands, where property prices are among some of the highest in Spain.

On Spain’s mainland, properties can be found for under €450/m2, you will find them in Malagón in Ciudad Real (€426/m2), Horcajo de Santiago in Cuenca (€432/m2), Torralba de Calatrava in Ciudad Real (€438/m2).

Outside of Castill la Mancha and Castile and Leon houses can still be found for below €450/m2, Take a look at Puerto Serrano (€439/m2) in the province of Cádiz, Portillo de Toledo in Toledo (€441/m2), Carrión de Calatrava in Ciudad Real (€445/m2) and the Valencian municipality of La Pobla Llarga (€448/m2).

With prices as low as these and 320 days a year of glorious sunshine, it is easy to see why Spain remains a popular choice for Brits and other Europeans looking to make the move here.

Source

https://www.idealista.com/en/news/property-for-sale-in-spain/2021/09/06/25175-cheapest-place-to-buy-in-spain-2021