Last updated on April 19th, 2023 at 02:57 pm.
Everyone likes a bargain and it’s true to say that Spanish property is well-priced in comparison with many other countries. However, there are big differences when it comes to different areas. In this article we look to different areas of the country to find the cheapest region in Spain that might suit your lifestyle as well as your pocket.
When you are considering buying a property in Spain you will have to take into account many factors. How much it will cost and whether you can afford it, are high on the list. It is crucial to find something within your budget and this often results in a compromise. An inland property can be better value but not within easy reach of the beach. You have to decide your priorities. However, there are ways of combining your ideal location with a lower price if you search for a cheapest region in Spain.
Investing in the city
For example, if you are a city person and want somewhere that’s located in a busy and central environment then Madrid and Barcelona may well attract you. However, both of these cities and their surroundings are expensive places to purchase property whereas the city of Valencia shares many of the benefits but less of the cost. Valencia is one of the cheapest regions in Spain and its city fares well in comparison to others. Its history, culture and lively social scene make it an attractive alternative that you could consider.
Investment in the city also depends upon which part of it you choose. Most cities, even the most expensive, have areas which are more affordable. Just be careful that you don’t opt for one which is to be avoided for a particular reason. Do your research and always take recommendations from people who know the area.
Heading for the coast
You will already know some of the coastal spots to avoid if you don’t want to pay high prices for your property. Marbella is renowned for its property price tag. Moreover, coastal areas such as Sitges can also command prices above many people’s budget. However, you need not pay an extortionate amount for even a front-line coastal property if you select one of the cheapest regions in Spain. For example, off the coast of Almeria you can find property that will not break the bank.
Explore towns along the Costa Dorada. It shares most of the benefits of the other costas but at less of a price. You might also take a look at the Costa del Azahar and the town of Gandia in particular. Gandia represents affordable prices whilst also having the essential services we all need and proximity to the coastline. Definitely worthy of consideration. Santa Pola can be underestimated as a potential property hotspot. It’s a coastal town whilst also being on the doorstep of Alicante airport. Also, it features a number of attractions including salt lakes and its own funfair park.
There are many areas of Spain that can suit your pocket. Some of the cheapest regions in Spain are nestling well away from the coast. As a rule of thumb buying inland will save you money and Spain is riddled with villages and low-cost areas where you can snap up a bargain. However, you will also need to balance this availability with accessibility. A compromise on location should not mean a reduction in lifestyle options. Make sure that your inland location has sufficient services nearby for your needs and that you will not feel too isolated.
Regions such as Castile-La Mancha, Castile and León and La Rioja are generally underrated when it comes to the foreign property market and yet have so much to offer. Inland from the coast of Alicante on the Costa Blanca you can find many spots. They are still within easy travelling reach of airports but do not command the same prices as their coastal neighbours. Murcia also has a host of smaller towns and villages. There you can be within travelling distance of the coast but able to purchase more for your money. It is worth taking a look at inland towns such as Albox, Arboleas, Vera and Los Gallardos. They are still further south but without the price tag of Mojacar.
Cheap as chips
So what is the cheapest region in Spain irrespective of your preferences? It seems to depend upon what source of information you use. However, El Carmen in Huelva comes out as a contender, along with La Chanca in Almeria. Another nominated town is Alcaudete de la Jara in the province of Toledo with property prices averaging at €349 per square metre. Not much more expensive is Fuente Obejuna in Córdoba at €352 per square metre.
In Murcia you might check out Bullas at €460 per square metre and in Valencia La Pobla Llarga at €456 per square metre. Of course, these may be some of the record breakers. However, don’t succumb to compromise too much on your ideal Spanish property. It is, after all, a long-term investment and it can be worth pulling out the stops to secure the best you can for the money you have.
At the top of a Place in the Sun’s best places to buy abroad 2022 is Torrevieja. As this also happens to be the location of our primary office, it’s good to see the town getting such a thumbs up. Of course, we can see why it could feature as the cheapest region in Spain. Firstly, there is plenty of available accommodation. Urbanisations surround the town with many consisting of one and two-bedroom apartments that are good for both inhabiting yourself or renting out.
In Torrevieja you get the benefits of a coastal town with direct access to some amazing beaches but living costs that are not sky high. There is lots to do here and it is very family-friendly whilst also being close to some bustling nightlife. We could argue that it has the best of both worlds and with small properties. The average pricing is between €50,000 and €60,000 it is a great place to invest. Definitely qualifies as one of the cheapest regions in Spain.