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The dream of having your own place under the Spanish sun, with access to the beach and the Mediterranean lifestyle, is shared by many. When it comes to cheap property in Spain, especially Spain by the sea, the €50,000 ceiling sounds extremely tempting. Although the property market in Spain has undergone significant changes, and prices in Spain’ s popular resorts have risen, there are still opportunities for budget investments, but they come with their own specifics and trade-offs. Let’s take a look at where and how you can find such deals and what to realistically expect.
Market reality: where to look?
Finding a property on the coast of Spain for under €50,000 requires careful research and flexibility regarding the location and condition of the property. Here are some regions where you can still find such offers:
- Costa Blanca – South (Alicante):
- Features: This popular region is known for its long sandy beaches, mild climate and large expat community. The southern part of the Costa Blanca, especially in older towns and communities such as Torrevieja, La Mata, Orihuela Costa (inland of some complexes), still offers opportunities.
- What to expect: Small apartments, studios or 1-bedroom flats in older apartment blocks, often built in the 1970s and 1980s. Some may be 1-2 km from the beach rather than beachfront. Likely to need renovation or refreshment.
- Reasons for affordability: mostly old buildings, large supply left over from the building boom, and need for renovation.
- Costa Cálida – Murcia:
- Features: This region offers a more authentic Spanish atmosphere and less tourist traffic than the Costa Blanca. It is famous for the Little Lagoon (Mar Menor), a large shallow saltwater lagoon ideal for water sports.
- What to expect: studios or small apartments in older buildings, often built for local summer tourism years ago. They may be a few hundred metres or a kilometre from the beach.
- Reasons for accessibility: less developed international tourism and presence of older construction.
- Costa de Almería – Andalusia:
- Characteristics: the eastern part of Andalusia, characterised by a semi-desert climate, authentic white villages and a more relaxed life.
- What to expect: small apartments or studios in older towns and resorts like Roquetas de Mar or El Ejido.
- Reasons for affordability: lesser known region for international tourism, which keeps prices lower.
- Inland provinces, near the coast:
- Features: If you’re willing to drive 15-30 minutes away from the beach, the possibilities increase significantly. In small towns and villages inland in the coastal provinces (e.g. Alicante, Murcia, Almeria) you can find houses or apartments at these prices.
- What to expect: Traditional Spanish houses (casas de pueblo), some of which need major renovation, or older apartments.
- Reasons for affordability: less demand from foreign buyers who prefer direct proximity to the sea.
What can you realistically expect from a property for up to €50 000 on the sea?
Be realistic in your expectations. A property in this price range will most likely be:
- Small: Usually a studio or 1-bedroom apartment, between 30 and 50 sqm.
- Old: Built before 1990 and often earlier.
- In need of renovation/refreshing: You may need to invest in a new bathroom, kitchen, window treatments, electrical wiring or a complete refresh.
- No direct sea view: very likely to be in a block of flats overlooking the street, another block or patio.
- Far from the beachfront: a few hundred metres or a few kilometres from the beach.
- In an area of high supply: often in areas where there are many similar properties for sale.
- In communities with maintenance fees: if it is an apartment in a block, you will have monthly condominium fees (comunidad).
Hidden costs and budget
The price of €50 000 is only the purchase price. You should always allow for additional costs, which can amount to 10-15% of the purchase price.
- Transfer Tax: for second hand properties (Transfer Tax / ITP), between 6% and 10%, depending on the region. For a property of €50,000, this is €3,000 to €5,000.
- Notary fees: about 0.2% – 0.5%.
- Fees for entry in the Property Register: about 0.1% – 0.25%.
- Lawyer’s fee: usually 1% (+VAT).
- Estate agent commission: usually 3% – 5% (+VAT) but may be included in the price or payable by the seller.
- Renovation costs: for a €50,000 property, you may need to invest another €10,000 – €30,000 (and sometimes more) in renovations to make it modern and habitable.
Total budget: for a property listed for €50,000, the actual investment with fees and basic renovations can easily reach €60,000 – €85,000.
Search and buying tips
- Be flexible: extend your search to lesser-known towns and to properties that are not on the waterfront.
- Explore the area: visit outside the active season to get a feel for life throughout the year. Check for amenities, shops, transportation.
- Engage professionals:
- Lawyer: make sure you hire an independent Spanish lawyer. He will carry out a thorough legal due diligence and protect your interests.
- Real estate agent: work with a licensed agent who knows the local market well and can refer you to real offers.
- Appraiser/Civil Engineer: For older properties in need of renovation, an engineering appraisal is recommended.
- NIE number and bank account: Get your NIE number and Spanish bank account right from the start.
- Budget for everything: Include all one-time and ongoing expenses.
Conclusion
Finding cheap Spanish beachfront property under €50,000 is not impossible, but it does require realistic expectations and a willingness to compromise on the size, age and condition of the property. These offers are most often found in older, more established areas such as the southern Costa Blanca or in lesser-known coastal regions. With careful research, expert help and an adequate budget for additional costs and renovations, you can realise your dream of having your own place under the Spanish sun.
This post is also available in: Български
