- Portugal may be the defending European champion, but how does its property market stand up?
- Will Spain’s second home credentials win out?
- Or is UK property still holding its own?
Euro 2020 excitement is reaching fever pitch, with the first match (Turkey versus Italy) due to kick off in Rome today, Friday 11 June. In total, 51 fixtures will be played across 11 host cities. Both Spain and the UK will be hosting matches (in Seville and London, respectively), as defending champions Portugal seek to retain their championship title.
But enough about football. What about the contenders’ property credentials – does it make more sense to buy property in Portugal, Spain or the UK right now?
“Each country has its own merits when it comes to buying property there. Whether it makes more sense to buy in the UK, rather than Portugal or Spain, for example, depends entirely on what you plan to use the property for – and how long you intend to hold onto it before selling.”
Dale Anderson, Managing Director, Fabrik Invest
Owning property in Portugal has plenty of appeal. The cost of living/holidaying there is a major draw. Numbeo reports that Portugal’s cost of living is lower than that of Spain, which in turn is lower than that of the UK. The Post Office Holiday Costs Barometer 2021, meanwhile, reports that Portugal’s Algarve is cheaper to visit that Spain’s Costa del Sol. And with property priced at €1,185 per square metre, Portugal’s homes are also cheaper than pretty much all of western Europe. Score one for Portugal.
Portugal also delivers an enviable lifestyle, particularly in the sun-kissed Algarve, with its stunning coastline, world-class golf and marine sporting facilities and its picturesque towns and villages packed with independent restaurants and cafés serving up the delicious local cuisine.
In terms of what you can get for your money in the Algarve, the homes at Amendoeira Golf Resort are a great example. Two-bedroom apartments cost from €285,000, while three-bedroom villas with private pools are priced from €490,000.
Owned and operated by Kronos Homes, Amendoeira Golf Resort presents buyers with a range of additional facilities, including golf, tennis, a gym, communal pools, a sports bar, a restaurant and a stunning new clubhouse. For those currently fixating on the Euros, there’s a natural grass football field built to FIFA’s standards, along with two AstroTurf five-a-side football fields.
So, what does Spain have to offer? Like the Algarve, southern Spain offers a superb outdoor lifestyle, with 300 days of sunshine per year. It also provides a wealth of golf and other sporting facilities, along with a wonderfully scenic coastline. Spain’s coast is on the Mediterranean, so it wins out over Portugal when it comes to sea temperatures (as Portugal sticks out into the Atlantic).
For those who like to treat themselves while on holiday, Spain is also the place to be. From designer clothes to yachts, the country’s southern shores are awash with high-end goods and upscale beach clubs (far more so than that Algarve, which tends to deliver luxury in a rather more laid-back fashion).
“Spain has long been a favourite destination for British holidaymakers and second home buyers. Its vibrant towns, superb gastronomy and cosmopolitan atmosphere are ideally suited to relaxation and enjoyment.”
Marc Pritchard, Sales and Marketing Director of Taylor Wimpey España
Spain also wins out over its Iberian neighbour when it comes to flight times – just. Flying from London to Alicante takes around 2 hours and 30 minutes, while London to Faro is closer to 2 hours and 50 minutes.
In terms of properties, the Costa del Sol has a wealth of options available. Leading Spanish homebuilder Taylor Wimpey España offers everything from golf apartments to stunning beachfront homes.
A property at Sun Valley, for example, provide residents with all the benefits of living at the prestigious La Cala Golf Resort. Priced from €251,000 for a two-bedroom apartment, the south and southwest facing homes enjoy panoramic golf and sea views and come with a communal pool and infant splash pool. The individual apartments all feature large terraces and spacious interiors.
Where does all this leave the UK? Well, while Portugal and Spain are winning big with second home buyers, investors looking for passive income are turning to the UK, according to property investment firm Fabrik Invest. The company cites the UK’s stability as an investment destination as a key part of its appeal
Owning a rental property in the UK certainly comes with plenty of earning potential. The Exchange in Preston is an excellent example. It offers contemporary urban apartments within one of the city’s key redevelopment zones – Stoneygate. On-site amenities include a gym, residents’ lounge, elegant rooftop garden, concierge and bike storage. Not only are the homes set to benefit from the impact that the Stoneygate masterplan has on the local area, but the North West region is projected to lead the UK in terms of property price growth. Savills predicts that prices in the North West will increase by 28.8% in the five years to 2025.
So… which country wins? It seems the answer really does depend on what you want to own the property for. And as for who will win Euro 2020, only time will tell!
For more information on Taylor Wimpey España, call 08000 121 020 or visit https://www.taylorwimpeyspain.com/. If you reside outside of the UK, you will need to call 00 34 971 706 972.