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Bravo, Costa Brava!

01.11.2006
Author: Sarah WOODS
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In recent years the Spanish Costa Blanca has changed dramatically, and for the better. It has become more respectable, more popular and, most importantly, more profitable destination for investment in real estate. The cost of housing here is relatively low, and the ratio of price and quality is very beneficial. Isn't that enough to draw the attention to the Northern coast of the Spanish Mediterranean?
More recently, the Costa Brava was perceived exclusively as a popular destination for unassuming European tourists who went out for a couple of weeks to sunbathe under the southern sun. It is not surprising that such an unfavorable image and the influx of tourists did not allow us to seriously consider the Costa Brava as a destination for buying luxury housing, despite its picturesque landscapes and historical attractions. But today everything is different.
The global crisis of the tourism industry, which came after the terrorist attacks in New York in 2001, played a role. The number of tourists on the Costa Brava sharply decreased, which only benefited the region - development and construction companies had the opportunity to more freely dispose of the resort space, most of which was still occupied by tourists. To date, the consequences of the crisis on all Spanish coasts are already over, and the image of the Costa Brava has noticeably changed for the better.
Now the reorganization of resort areas is in full swing on the coast, in particular, many luxury real estate objects are being built. It should be noted that recently, when designing housing on the Costa Brava, attention has been paid to preserving the unique local architecture. Of course, the desire of the creators of the resort complexes to meet the expectations of the guests of the coast has affected the appearance of the Costa Brava, but does not destroy its architectural integrity.

Rest first of all
A good location is one of the main reasons for the popularity of the Costa Brava resorts. This coast is located on the border of France and Spain, in the province of Catalonia, with its ancient original culture. Its main feature is the picturesque rocky shores, small bays and beautiful views of the Mediterranean Sea.
In Catalonia, it is much cooler in winter than, for example, on the Costa del Sol, located to the south, but in summer it is not so hot - the temperature usually does not exceed 30 degrees. The seasonality here is very clearly expressed – in October, many hotels and tourism facilities are closed until spring.
Now in the resorts of the Costa Brava, buyers are offered a lot of tempting projects. For example, Monde Property has put up for sale a huge detached villa with two bedrooms and four bathrooms, located in the village of Bigur, whose windows offer magnificent views of the bay of Aigva-Blava. The residence also includes a garage, a sauna and a private garden with a swimming pool, and the cost is 1.26 million euros. It is quite expensive, but due to the fact that there are many infrastructure facilities within reach, the villa is very attractive for renting.
In the city of Girona, buyers are offered a five-bedroom house located in a golf resort and with stunning views of the canal that divides the city into two parts. It includes six bathrooms, an office, two living rooms, a large kitchen with a separate dining room, from the windows of which you can see the pond and golf course, as well as a private swimming pool. The object is estimated at 1.3 million euros and is being sold at the construction stage.
Of course, there are much more affordable options - small apartments on the Costa Brava can be found for 250,000 euros, but in most cases the cost of apartments with two or three bedrooms and two bathrooms - from 400,000 euros. Duplex cottages will cost 500,000 euros, and villas - from 1 million euros.

Rental profit rate
Those who, when choosing real estate, focus primarily on possible profits in the future, will certainly be interested in numerous projects being sold at the construction stage, as well as offers on the secondary market that can be equipped "for themselves", quickly and at low cost.
Derek Denham says: "Real estate on the Costa Brava brings a good return on investment. The rental income on the Costa Brava is roughly the same as in other Spanish areas. The peculiarity of the Costa Brava is that the rental season can last quite a long time thanks to such fashionable entertainments as playing golf throughout the year or skiing in winter." Of course, in order to rent out real estate throughout the year, it is necessary that it be located in close proximity to year-round infrastructure facilities.
Villas with a plot of land are quite expensive, especially those with a swimming pool or located in close proximity to the sea. But rental income will reimburse your investment costs. A week of staying in a small villa in Lloret de Mar during the high season will cost at least 600 euros. Renting townhouses and apartments is not much cheaper - its cost is from 550 euros, and it is this type of real estate that looks the most promising when renting out.
Owners who intend to use their property for renting out will find it convenient to have a scheme in which real estate management is carried out by a specialized company.

Following in the footsteps of European pensioners
Like many other Spanish coasts, the Costa Brava is in demand among Europeans who are making a purchase based on the use of their real estate after retirement. Especially popular among them are the resort towns of Calella de Palafrugell and Roses, located on the coast, as well as facilities in the interior of the country, near the airport of Girona. And although few Russians buy real estate for "retirement" purposes, the basic principles of such a purchase – a combination of good opportunities for recreation, transport accessibility and tranquility - deserve attention
Here, for example, is a luxury residential complex near the historic city of Figueres - the birthplace of Salvador Dali - in which excellent conditions for recreation and accommodation are created. The complex consists of detached villas built in the style of ancient Catalan estates. Each of the villas has five bedrooms with walk-in closets, three bathrooms and a spacious kitchen, all of them are equipped with a modern security system, have a garage for two cars and a barbecue area. The complex also includes an upscale hotel and an 18-hole golf course. The cost of the villa is 504,000 euros.

Old for the thrifty
The cost of living on the Costa Brava, and in particular the prices of water, gas and electricity, are lower than on the Costa del Sol and certainly not comparable to such expensive European countries as France or England. Low operating costs are an important reason why many Europeans buy permanent housing here. As a rule, such economical buyers choose old, well-located buildings, the maintenance and maintenance costs of which are relatively low.
At the moment, masias are very popular – magnificent old stone estates in a typical Catalan style. Many of them were built several centuries ago and need serious reconstruction, but sometimes fully restored properties located in rural areas with picturesque landscapes are also put up for sale, and in some cases a plot of land is attached to them.
The cost of this type of real estate largely depends on the condition of the object you are purchasing. So, a medium-sized property in need of repair will cost from 130,000 euros, and buying a luxurious, well-equipped residence will cost much more. If you want to buy an estate characteristic of Catalonia for a smaller amount, you should pay attention to small towns far from the coast, where old estates will cost from 100,000 euros.

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