Yzabelle Bostyn
A RECENT report from Business Insider has proclaimed two Andalucian towns are some of the most affordable places in Spain for buying and renting homes.
Buying a house in 2024 is no easy feat.
Prices have risen in the past few years to unprecedented levels and while Brits used to seek refuge in the purse friendly Spain, worldwide inflation and Brexit has scared some off.
Luckily, many expat enclaves are still going strong despite a difficult few years.
According to Business Insider: “there are some cities where it’s better to buy and others where it’s better to rent.”
As such, the business publication has made a map of the best Spanish cities to invest in property.
Conil de la Frontera, Cadiz, made the list, with the publication estimating a house here could be worth between €150,000-200,000.
The research carried out by Catedra Grupo Tecnocasa-UPF revealed buying in Cadiz could be a great investment.
It also highlighted Fuengirola, Malaga for its great house prices.
They said: “There are only 100 cities where the financial burden of buying a flat (the mortgage) is less than renting.
“Amongst these are Mogan (Gran Canaria), Barakaldo (Vizcaya), Benidorm (Alicante), Conil (Cadiz), Fuengirola (Malaga), L’Hospitalet (Barcelona) and Yecla (Murcia).”
The study indicates that in the long term, buying instead of renting in these areas could save you between €100,000-150,000.
However, the initial investment is much greater, meaning many young people cannot take the leap.
READ MORE: Rafael Nadal, 37, buys brand new €4million luxury apartment in Spain’s Madrid
