property
PROPERTY INVESTMENT ABROAD Part VIII: Asturias - the forgotten land.
BY BY JORGE V.REIN PARLADE
S
ome readers may wonder why after so many articles on property investment abroad I have not covered Spain yet. The answer is quite simple: It is very close and probably well-known to most Gibraltarian residents. And it may well be the case that they can do their property market research on their own. Spain, however, is a large country and prices can vary from €1000 all the way up to over €12.000 per square metre on prime seafront beach properties in Marbella, or exclusive areas of Mallorca in The Balearics. In this article we shall be travelling to Asturias. A little like the northern parts of Ireland or the UK, Asturias is a principality within the Kingdom of Spain and along Andalucia or Galicia, and is an autonomous community. GIBRALTAR MAGAZINE SEPTEMBER 2019
This so-called forgotten land is far from Gibraltar but still a lot closer than other property markets we researched in the past like Greece, Malta, Croatia or Ireland. Communications by motorcar are excellent and one can join the Principality in 10 hours by car from Gibraltar, all the route being on motorways of which 95% are toll-free. Another good option is to fly up. Malaga has daily flights to Oviedo-Asturias for some €150 return if booked in advance. The flight is short and pleasant, taking just over one hour. And Oviedo airport terminal is small and very user friendly. The weather is different from our mediterranean sunny and hot conditions. As we all know well, conditions in summer can be unbearably hot in most of the Mediterranean. Up in the
Principality, summer conditions are very pleasant with day temperatures that average from 19-23°C and night temperatures of 15-17°C. Asturias is therefore very green, with lush vegetation, and incredibly pretty. Beautiful rivers coming from The Picos de Europa flows its pristine, gin-clear waters on to the Cantabrian sea. The beaches are no doubt amongst the most beautiful in Spain. And taking into consideration that its weather is heavily marked by the Gulf Stream it is a true fact that conditions are balmy for being in Northern Spain. A recent research of an ancient history book showed that two hundred years ago Asturias had the largest plantations of oranges in Spain. This somehow proves 21