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Spain: Take a second look at Spain - Camilla Mabbott, Aylesford International

Take a second look at Spain

Southern Spain has been getting some pretty bad press for the past few years, with the alleged corruption and the arrest of the Mayor amongst other things. Marbella and its environs have suffered and the Spanish property market is currently reflecting the uneasiness of the political and economical climate.

The quality of the property for sale and the facilities on offer in this part of the world don’t deserve to be tainted by the same brush as there are some beautiful villas in wonderful golf estates which are on the market for longer than they should be. Interestingly, the Germans seem to be the most transient and are selling up. There is much speculation about the emotional and economical rationale behind this very evident trend, which incidentally is just as noticeable as the influx of Dutch and Norwegian nationals who are arriving as quickly as the Germans are leaving. Perhaps there won’t be such a rush to get to the beach if the sun beds haven’t already been reserved by the early birds…

So what does this mean? Now the cleanup of corruption is underway and the area has been exposed, teamed with the core ingredients of good location, good infrastructure and great climate, it can only be a good investment for those looking for a holiday home in Europe.

But if you want to get some of that Spanish sun, Sangria and smell the frangipani even before the summer really gets going, why not take another look at the Balearic Islands. It’s not all clubbing and egg ‘n chips. The island chain is located in the Mediterranean Sea off Spain's Eastern shore and is one of the foremost tourist areas in the country.

The five islands are Mallorca, Menorca, Ibiza, Formentera and Carbrera. The largest island, Majorca (Mallorca), is renowned for its beaches, restaurants and sunsets. It has towering mountains in the northeast, beautiful caves in the east, a picturesque coastline in addition to quaint villages. The port of Majorca is one of the most important in the Mediterranean, and the principal city, Palma, features a Gothic cathedral and a 14th century Bellver Castle. It is home to many celebrities and notable members of society.

Ibiza, however, is infamous as the party capital of Europe, but surprisingly there is something for the more discerning traveller. The smell of honeysuckle hits you as you come out of the airport and the voyage through the hills is reminiscent of parts of Sicily, with lemon and olive groves littering the fields and lining the roads.

St Antonio should be avoided at all costs as it comprises everything that should be avoided in Britain, but does boast an impressive sunset from the vantage point of Café del Mar. Ibiza town is historic with much character and great restaurants and cafes to spend endless hours people-watching.

But what is most surprising is the price of property and that anyone who is anyone seems to have a place there. There is a house that was on the market for nearly €20million. It is located on its own headland, with a mooring, golf course, tropical garden and multiple guest accommodation around the site. Planning is restricted so these headland properties can now ask almost any price they wish, although with the recent economic crisis these special properties are taking longer to sell.

Es Cubells in the fashionable South of Ibiza is an eclectic mix of rock n roll residences, sophisticated art deco-esque villas and rustic Spanish fincas. All cruise into the millions for sale and tens of thousands for monthly rent. The restaurants are largely the same price as London and music fills the air even when you are on the beach. There are also a good selection of more reasonable properties which have been humbled by the state of the world economy and certain currencies (British buyers being a substantial proportion of the market and the wounded sterling slightly disabling the migration). Basically, there’s something for everyone.

Conclusion. Ibiza’s very cool and property is hot. Mallorca is beautiful, classic and sustainable. Marbella is on its way to a recovery so watch this space. Vamos!

Camilla Mabbott

Camilla Mabbott is a Director at property consultants Aylesford International. www.aylesford.com

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