Connected thinly to the vast Atlantic Ocean and almost completely enclosed by land, the Mediterranean basin with nearly one million square miles of surface water, is surrounded by a diverse range of countries, all with warm temperate climes. The combination of weather and improved accessibility has made beaches all over the Med a popular tourist destination since the 1960s. The last few decades have however, seen a huge growth in the number of holiday homes being bought along the Med. Whole towns and resorts have sprung up as cheap air travel brought the masses to previously hard to get to places. For those considering an investment into a Mediterranean holiday home, this quick little guide may be for you.
Not as glamourous or expensive as some of Israel’s other cities by the sea, i.e. Tel Aviv and Herzliya, but Netanya, just 40 mins drive from Tel Aviv is changing. The Israel real estate bubble has been funded largely by a growing and lucrative Israeli tech sector but the further north or south of Tel Aviv you go, the cheaper the property. Netanya boasts a mall, beautiful and not so crowded sandy beaches as well as a very mixed community. A lot of French, English, Russian and South American have made Netanya their home or holiday home and for good reason. Prices per square meter to buy an apartment in the center of Netanya are just under $5k, more than half that of Tel Aviv ($11.5k). The gross rental yield for Netanya stands at 3.78%.
Just a short drive from ever-crowded Barcelona is Valencia. The port city of Valencia lies on Spain’s southeastern coast, where the Turia River meets the Mediterranean Sea. Despite much renovation to turn the city into a major European hub, Valencia maintains much of its historical charm. A lot more chilled than most Spanish cities, the city and its residents offer a more authentic Southern Spanish experience, than tourist-laden Barcelona, the world’s most popular cruise ship destination. Inland, Valencia is surrounded by untouched rural villages and town. The endless orange groves begin immediately as you leave Valencia and finca properties out in the country can still be purchased for under 100,000 euros. Alternatively, small quaint ex-fisherman’s houses a stone’s throw from Valencia’s white sandy beaches are a developer’s dream. Prices per square meter to buy an apartment in the center of Valencia are 2,6572 euros, whilst the gross rental yield stands at 4.64%