People who wish to move to Spain in the near future have been warned about house prices. It comes as Spain has been seen as a cheap location for those looking to start a new life.
But those looking to make the move are being urged to do their research, reports Birmingham Live. In a recent episode, Channel 4's A Place in the Sun presenter Laura Hamilton gave guest Jennie a "reality check" due to her tight budget.
The show saw Jennie try to purchase a two-bedroom holiday home in the Costa del Sol in Spain with a budget of £85,000. Laura however stepped in and told Jennie she needed to up her budget.
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She said: "I have to give you a serious reality check, a budget of under £90,000 for a two-bedroom property is going to be exceptionally tough. So I think in terms of your budget, we are definitely going to need to have some flexibility there."
The presenter showed her guest a number of properties in the resort town of Estepona in the Costa del Sol. However the flats were smaller than the guest anticipated, so she decided not to make an offer on any of the properties.
The TV presenter believes that many foreign buyers haven't realised that the Spanish property market hasn't recovered. Spanish house prices posted their biggest annual increase since the boom period before the global financial crisis.
Prices jumped 9% in January from a year earlier, according to a monthly index compiled by Fotocasa, a real estate website. This was the sharpest rise since September 2006.
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