Bargain prices are tempting, but location, location, location remains the name of the game

There are bargains to be had in Spain, just make sure you search in the right place

There’s always a slight sense of trepidation whenever I write the words ‘bargain property in Spain’. A few years ago – around about the time that the only Royal Baby story would have involved Prince Harry’s latest embarrassing antics – I would have given my right arm to utter such a phrase.

Back then, as Spain’s property market was at its peak, prices were soaring. But today, in this post-boom landscape, there is a nervousness in the air. Sure, the nerves are dissipating slowly, but when compared to the confident heyday of 2006, the Spanish property market still feels a little shaky on its feet…

So when large media outlets here in the UK begin shining the spotlight back onto Spain, I tend to worry rather than rejoice. The reason? Because the British media tends to deal in absolutes. So where before we had a ‘boom’ followed by a ‘crisis’, today we have ‘bargains’.

It’s true – Spanish property prices are as low as they have been since the turn of the millennium. Thousands of people were forced to sell at a loss, with Spain’s bad banks hoovering up repossessed property like an army of dapper-suited Dysons. Eurostat figures show that the first three months of 2013 saw prices down by 12.8 per cent on 2012, which had already recorded astonishing lows.

The bottom of the market has been reached, and there really are some incredible bargains to be had.

But hold your horses. The ‘best’ bargains aren’t necessarily the cheapest properties. If a home’s price tag feels too good to be true, then it probably is. Apartments selling for under €50,000 are not unheard of, but before you take the plunge, you have to ask yourself ‘why is it so cheap?’

Often, the reasons are not always immediately obvious. What might look like an idyllic urbanisation glistening under sunny skies on the edge of the mountainside could quite easily be a half-deserted, crumbling, illegally built folly in the middle of nowhere.

So what I’m trying to say is: don’t let bargain prices turn your head… at least not all the way. It is good news that property in Spain is more affordable today than in recent years, but all it takes is a few thousand Brits to make bad decisions and the market is back in the doldrums, its reputation ruined and the recovery set back to square one.

If you are actively in the market for a property in Spain, that’s great. A wonderful decision that will not disappoint, provided you follow the old mantra – location, location, location.

The Costa del Sol is not the most popular destination for expat property buyers and holidaymakers for nothing. It really does offer everything that the prospective buyer needs. Its resorts are impressively accessible, modern, culturally accommodating and – best of all – varied and attractive.

Its property portfolio – of which VIVA have unrivalled knowledge and choice – is wide, varied, rich and well maintained. The few developments and urbanisations that are beset by problems are evidently in trouble. Hence, you’ll know immediately to give them a wide berth.

Everywhere else benefits from the fact that Marbella and neighbouring resorts are among the most established property destinations in Europe, let alone Spain.

With a great supporting cast of English-speaking services, a modern infrastructure and one of the best climates in the world – not to mention some impressive bargains to be had – the Costa del Sol really is the best place to search for that dream home in Spain.