Castile And La Rioja Real Estate

Summary: Famed as largely agricultural regions of Spain, Castile and La Rioja have not succumbed to the main Spanish property boom which means that real estate here is relatively competitively priced at worst and highly desirably priced and attainable at best.

Famed as largely agricultural regions of Spain, Castile and La Rioja have not succumbed to the main Spanish property boom which means that real estate here is relatively competitively priced at worst and highly desirably priced and attainable at best.

Both regions offer little in the way of the stunning sunshine and beautiful Costa temperatures most people think of as par for the course when discussing Spain.  In fact, the weather in parts of these regions can shock hardy Northern Europeans!  Most of Castile is mountainous and on an early spring morning before the sun has had a chance to take the edge off, the temperatures are likely to be far harsher than one might experience on a similar morning in the UK for example.

La Rioja is of course the most famous wine growing region in Spain, it is a region in its own right but as it is small and borders Castile it is often considered part of Castile.  It is one of Spain’s hidden treasures, accepted only as an agriculturally rich region it is seldom considered as a tourist or property hotspot and yet it is home to many of Spain’s hidden treasures and well worth a visit or consideration as a second home location.

Both regions are quite industrial and are easily accessible and conveniently located on the main route from Western France through to Madrid and Lisbon, so properties in both regions have always had an intrinsic value...and as the land is agriculturally rich it is not a case of land and rural properties being far cheaper than town houses.  That said property bargains in certain key areas of both regions are plentiful.

In Segovia in Castile for example property prices are low and have remained low despite the city’s close proximity to Madrid and its popularity with commuters.  The city is incredibly rich in architectural history with stunning squares, monuments, mansions and a striking aqueduct, it’s a very popular ‘suburb’ of Madrid and yet it is surprisingly affordable.  It hasn’t become popular with expatriates which has meant that prices are low, it’s a favourite day trip for tourists to Madrid which makes it quite busy in the summer, but in the winter when snow fall can be high and the main population head out each day to work in Madrid, the town can sometimes feel a little deserted.

There are no expatriate communities in the city which means its essential to speak Spanish if you’re thinking of moving in but that’s a tiny price to pay for all that you will gain if you take advantage of what Segovia has to offer.  Expect to pay an average of £70K for a simple 2 bed property right up to £280K for a superior 5 - 6 bedroom home in Segovia.

Salamanca, a beautiful old university town west of Segovia is another area that offers the potential real estate hunter something interesting in the way of property bargains.  The town itself is another of Spain’s historically and architecturally magnificent locations and it further benefits from excellent nightlife and a vibrant and lively young atmosphere.  The popularity of the town has led to an influx of American and European property hunters which has in turn led to price increases in the real estate market.

It’s still a potential investment property hotspot.  Expect to pay an average of £70K for a 2 bed property, £90K for a 4 bedroom out of town house, right up to £220K for a top end 5 - 6 bedroom house.

La Rioja’s capital is Logrono, a lively, fast developing and modern city...popular for its week long harvest festival, its Gothic cathedral, its wine museum and its most famous former resident El Cid Campeador.  Logrono is a thriving and progressive city, home to a cosmopolitan mix of bars, cafes and boutiques but it is not yet popular as either a main tourist destination or for those in search of a second home in Spain, therefore property prices remain attractively affordable...though pricier than either city previously discussed.  On average a simple 2 bedroom property will cost £130K and top end expect to pay in the region of £280K for a 5 bedroom home.

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