Foreign property buyers invest in homes on Barcelona coast
Tuesday, 18 February 2014 12:56
Villages on the 30-mile-long Maresme coast north of Barcelona are attracting increasing numbers of foreign homebuyers, according to a recent article in the Wall Street Journal.
Attracted by proximity to the beach and the mountains, and easy access to Barcelona, buyers from Northern Europe, Russia and the U.S. have been snapping up homes at enviable prices.
House hunters vary between second homebuyers looking for a bargain in the current Spanish property market, and others relocating to the Barcelona area for professional reasons. Towns such as St. Andreu de Llavaneres, with its chic neighbourhood of Supermaresme, have seen more and more foreigners moving in. Alella, a village nearby with an international school (and its own wine production from local vineyards), has also noted a jump in expat residents.
High-end homes with easy access to Barcelona
The Maresme coast, with its 30 towns and 37 beaches, is a short train ride from the centre of Barcelona. Although transport links detract somewhat from the natural beauty of the coast, they offer easy access to the city. Buyers are attracted by the space they get for their euros, reports the Wall Street Journal, in addition to incentives such as the ‘Golden Visa’ law that gives residency to non-EU citizens investing a minimum of €500,000 in the Spanish property market.
Prices for high-end homes in Maresme are said to be 40% cheaper than in 2008, although property experts say it has been hit less hard than other areas due to its popularity with Catalan second homebuyers.
