To Buy in... Cantabria, Spain

Property investment guru Jonny Benarr seeks out properties for all budgets around Santander and the Costa Verde

WHY CANTABRIA? This stretch of northern Spanish coast, the Costa Verde, is so called for the lushness of its vegetation and the temperance of its climate. It offers a little of everything for the traveller (and the inhabitants), and in the last decade has seen a huge increase in the number of tourists visiting. The pretty beaches beckon you for summer seaside days, and the inland valleys sprinkled with delightful villages are the perfect landscape for long walks and scenic drives.

The capital Santander is a cosmopolitan, elegant and relatively modern town bustling with bodegas, bars, boutiques, urban beaches and a handful of sights. In particular, the Belle Époque chic of the El Sardinero neighbourhood makes for a dream area to live in considering that much of the rest of old Santander was destroyed by a huge fire in 1941. Cantabria may not enjoy as many hot and sunny days per year as southern Spain, but it does have plenty of them. Plus, the highly rated wine region of Rioja is just next door.

You can’t go wrong with the cuisine either, especially dishes like sorroputún (a tuna and potato stew) or cocido montañés (a hearty stew of white beans, cabbage, potato, chorizo, black pudding and port). Be sure to try local cheeses like queso picón, made from cow’s, sheep’s and goat’s milk.

KNOW BEFORE YOU GO “A 10% deposit is customary for buying a property, and a further 10% towards all costs is expected,” says Leticia Meana of Santander law firm Rebollo Abogados (www.rebollo-abogados.com). “Buyers go wrong when they rely on the estate agent involved to handle the whole transaction, when really, like the UK, they are acting for the seller primarily.” A local lawyer who speaks English and Spanish will help you avoid any problems, and it is also recommended that you open a Spanish bank account to facilitate the purchase. It is legally required that you obtain an NIE number (foreigner’s ID number) before completion.

WHO TO CONTACT? Prior to my visit I got in touch with Ann Hansen, proprietor of Costa Verde Properties (www.costaverdeproperties.com), to arrange a selection of viewings. Although now based in the UK, Ann lived here for several years. She has an abundance of local agent contacts and easily accommodated my requests, as well as making some excellent recommendations. Local knowledge is essential, and she has it! My local agent, guide, translator, adviser, and companion, Jesus, from Costa Verde Properties, was an invaluable asset. Although you may know some Spanish, having a fluent friend along for the ride is crucial when seeking a property to purchase.

Fast facts

GETTING THERE
Reach anywhere in Cantabria from Santander airport, which is served by 17 Ryanair routes. The airport is located 6.5km outside the city centre, and buses there cost €1.50, with a journey time of about 15 minutes.

ABOUT OUR EXPERT
Jonny Benarr is a property investment consultant for the UK and Europe. For more details, visit www. jonnybenarr.co.uk

On The Market

IF MONEY’S NO OBJECT

WHAT? An 18th-century “Indianos Palace”, so named as they were built with the spoils of trade founded across the oceans in South America. Spread over three floors, the house comprises 14 bedrooms, a drawing room, wine cellar, panelled reading room, sweeping staircase and lofty ceilings, with 1,000m2 of living space and 18,000m2 of land. It’s a truly palatial property, with a tranquil setting to boot.

WHERE? A pretty village called La Cavada, only 20 minutes from the beating heart of Santander. A railway station provides a regular train connection to the city, and there are two quaint yet smart bar/restaurants in the village. A river flows down from the mountains, which form a superb natural backdrop.

HOW MUCH? €4.2 million, although the vendors are open to offers and do not expect to achieve asking price.

CAN I RENT IT OUT? Not in its present condition. The property requires some serious investment and renovation to bring it back to its former glory. But once it’s there, who wouldn’t want to stay in a palace?

WILL IT MAKE ME RICH? Because of its proximity to the popular Way of St James pilgrimage trail, you would expect so. However, the property also benefits from good access to cities like Santander and Bilbao – not to mention the environmental spoils of the area right on your doorstep – so expect it to appeal to a range of holidaymakers. Just think shabby-chic boutique!

FOR MORE INFORMATION ON ANY OF THESE PROPERTIES, CONTACT COSTA VERDE PROPERTIES AT WWW.COSTAVERDEPROPERTIES.COM

AROUND €500,000

WHAT? A four-bedroom, four-bathroom 1960s detached family home spread over two floors. Built partly in stone, and with natural light spilling in, it still feels incredibly cool despite the heat outside. It’s everything you could hope for as a permanent or holiday home. WHERE? In the small town of Valdecilla – near Solares, which has bars, shops and amenities and is almost a suburb of Santander. You are based just 15 minutes from Santander’s airport and ferry port, as well as the beaches and mountains.

HOW MUCH? €460,000

CAN I RENT IT OUT? Yes. With quick access to pretty much everything that people come to Cantabria looking for, it’s a no-brainer. Expect €1,500 a week peak season, or €1,000 a month on a permanent rental basis.

WILL IT MAKE ME RICH? Maybe. The present owners are fluent in English and Spanish, and run it as a residential school for people interested in either language. But, on the whole, a property of this nature – so close to nature – will always be sought after.

AROUND €300,000

WHAT? A traditionally styled stone-built mews property dating from the 19th century, which has recently undergone a stunning full refurbishment. You are spoilt with hand-crafted doors, exposed chestnut and pine, and a spacious open-plan living area.

WHERE? The peaceful village of Toñanes, about 40 minutes west of Santander. Locals enjoy a mix of mountain and ocean views.

HOW MUCH? This property is great-value, having been reduced to €300,000 from an initial €450,000.

CAN I RENT IT OUT? Demand for this style of property is high and, unlike some other properties, has a year- round appeal. Peak season you will get €4,000–€5,000 a month comfortably. Monthly rentals are what most Spanish are looking for when coming in August. Out of season, you could expect about €500 a week.

WILL IT MAKE ME RICH? Prices will creep up slowly, and there is already a clear trend that is seeing buyers move away from modern villas and into properties with character and soul.

AROUND €100,000

WHAT? A top-floor apartment that provides two double bedrooms and open-plan living within a two-storey detached stone-built cottage – it’s basically a penthouse!

WHERE? Pechón, a hamlet-village about 50 minutes’ drive west of Santander, and home to one of the most beautiful beaches I have ever seen. Only about 350 people live in the village for most of the year, and the property lies right in the centre near the restaurant/ bar/guesthouse.

HOW MUCH? €118,000 is the asking price but if you’ve got the money and you’re ready to go, you’ll probably be able to get it for closer to €100,000. Worth every cent!

CAN I RENT IT OUT? This is the kind of place you want to keep for yourself. However, during peak season in July and August you can expect €400–€450 a week from it.

WILL IT MAKE ME RICH? Yes. Culturally and holistically you will be richer than ever thanks to the serenity and the calmness. And the money side? Probably not. But you will love every moment you spend here.