A new region of Spain, the Costa de la Luz area on the south coast, could soon become a new area of interest for overseas property investors following a new deal to begin developments in nearby Gibraltar.
Preliminary plans have been put in place to improve access to the airport in Gibraltar, as well as provide more favourable pension arrangements for Spanish citizens living there, according to reports.
These reforms could offer a new lease of life in the area which will boost tourism and give the region a higher profile among overseas property investors.
Assetz reports that these changes could possibly offer a welcome benefit to the Spanish property market, which has been facing stiff competition recently from emerging European areas such as Bulgaria.
Markets situated further afield, such as Morocco and Dubai, have also been attracting a lot of interest from overseas property investors recently.
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Author
Carol McDonald