The train in Spain could lead to gain!
Investors in Spain could start their search for property by looking in areas or towns with a station included in the country’s growing high speed rail network, so with good access not only by air and road, but also train.
One example of this is Vera in Almeria, a small resort a few kilometres north of the better known town of Mojacar. The original old town is slightly inland while the newer Vera Playa is on the beach and currently has some attractive discounted property available.
“One of the companies we work with is currently selling two-bedroom, two-bathroom apartments on a brand new complex close to the beach and with its own pool for less than £100K, when the original asking price was around £220K,” said Richard Way of The Overseas Guides Company. “Buyers just need to put down a £5,000 deposit to get a 100 per cent finance deal from the bank and can expect a good rental return thanks to the development’s accessibility and location.”
Once the new high speed rail line is operational, Vera will be just 15-20 minutes from Murcia Airport but also have connections to Almeria Airport, Madrid, Barcelona and Valencia.
Since the late 1980s, Spain has spent about $60 billion building and equipping its high-speed network, which operates the impressive AVE trains. President Barack Obama even touted Spain’s system as a model for American high-speed rail plans when he announced billions of dollars in federal investments in April 2009.
The central hub of Spain’s AVE network is Madrid and the latest high-speed line to open is the 243-mile route between the capital and Valencia, on the Mediterranean coast – the journey time for which has been slashed from about three-and-a-half hours by car to just over an hour-and-a-half on the AVE train.
For details of property for sale all over Spain, visit the Spanish listings on Rightmove Overseas. One way to save money when buying in Spain is to use a currency specialist when transferring your pounds into euros to complete the purchase of your property. For more information on this, contact Smart Currency Exchange.
To understand the full step-by-step process to buying a property in Spain, collect The Overseas Guides Company’s ‘Spain Property Buying Guide’
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