Antequera property report 2008

rural cortijo in Antequera
In demand, a superb rural cortijo in Antequera

This brief report is about residential property in the central Andalusian region around Antequera

The upgrading of Andalucía dilapidated roads and railways, barely touched during the Franco years, had to start somewhere and once the money started to flow after E.U. accession in 1992, this is region that benefited first.

It is hard to overstate the impact that the road upgrade programme has had on property prices in the areas that have been opened up by improved roads, for example, the towns 20 – 30kms inland from the Costa del Sol such as Coín, Monda, Alhaurín el Grande and Álora, or those reached by the motorway heading north out of Málaga in the direction of Antequera.

Journey times to villages such as Villanueva de Tapia, Iznájar and Villanueva de la Concepción have quite literally been halved.

Antequera Property

Antequera, the geographical centre of Andalucía and at the crossroads of the Seville – Granada and Málaga- Córdoba mortorways, looks set to become an even more important regional hub now the Madrid – Malaga high speed AVE rail service is operational. A brand new rail station has been built just to the north-west of town.

I expect continued strong demand for property of all types in Antequera and surrounding countryside from both the Spanish and overseas sectors.

In the case of the Spanish market, Antequera will be easily commutable to both Málaga and Córdoba while at the same time, businesses are moving into the area bringing with them the need to relocate staff.

For the overseas buyer, easy access to the coast, the great inland cities of Seville, Granada and Córdoba and  skiing are a big plus, while the growth of the area is bringing more amenities, e.g. golf, to the doorstep.

Next, from the hub in Antequera, the AVE will extend to Ronda and from there, on to Algeciras, Spain’s largest port and the second in Europe only to Rotterdam.  Currently the journey time Antequera – Algericas is in excess of 5 hours and will be reduced by more than half.  Also at the planning stage is the Antequera – Granada route.

Village Houses in Antequera

Quite clearly, the bargain days are over in this area.  For a large village house to renovate you will need from 150,000 € and allow at least 75.000 € for a quality refurbishment.

Farm Houses in Antequera

Farmhouses to renovate start at 200,000 €, and recent refurbishment estimates for clients are coming in at 125.000 €+.  To install a swimming pool, budget 20,000 € for 8m x 4m and 25,000 € for 10m x 6m.

Property buyers of inland property should be aware that Spanish banks are much more cautious about lending when it comes to rural property and valuations generally come in very low.

Country Houses in Antequera

Very high quality country houses can be found in the Coín, Monda and Alhaurín el Grande areas but the proximity to Málaga airport and the coast have kept prices strong.

However, a house that might cost 1.5 million € on the coast would be priced around 50% lower in this area, with no compromise on quality.  For buyers who cannot find what they want within budget on the coast this area would be my recommendation as the best alternative.