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Discover Costa Brava: Spain’s Oft-Overlooked Coastal Treasure

The Costa Brava becomes a magnet for foreign buyers

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This $2.3 million villa has five bedrooms, four bathrooms and sea views over Aiguablava and its landscape.

COSTA BRAVA SOTHEBY'S INTERNATIONAL REALTY
This $2.3 million villa has five bedrooms, four bathrooms and sea views over Aiguablava and its landscape.
COSTA BRAVA SOTHEBY'S INTERNATIONAL REALTY

The Spanish coastline of Costa Brava has seen marked growth in foreign investment in luxury homes over the past four years. In 2010, foreign investment in new residential properties accounted for 9% of the market. In 2014, that number had jumped to 26% of the market, according to a report by Lucas Fox International Properties, a luxury real estate firm based in Barcelona. Roughly 80% of luxury market buyers in the region are looking for a second residence or holiday home in Costa Brava. Just over 13% of buyers in 2014 purchased in the area for use as a primary residence, according to the report. Compared with the Costa del Sol in southern Spain, where pockets of luxury need little introduction (think Marbella), international buyers are drawn to Costa Brava’s understated appeal. The Costa Brava is dotted with charming small villages and spectacular cliffs and coves that line the Mediterranean blue. Areas such as Begur and the surrounding coastal villages (including Calella de Palafrugell, Llafranc, Tamariu, Aiguablava, Sa Tuna and Sa Riera) all attract wealthy, international and national buyers.

A $9 million 12-bedroom, 13-bathroom home in Costa Brava's Begur region. View full listing. COSTA BRAVA SOTHEBY'S INTERNATIONAL REALTY “It’s not in any way ostentatious—which is perhaps the biggest difference between the Costa Brava and some of the higher-end areas of the Costa del Sol,” says Tom Maidment, a partner at Lucas Fox. “People come here to enjoy peaceful, family holidays in beautiful, unspoilt surroundings. There is no high rise and no large hotel complexes. Hotels are, typically, small family-run businesses—many of which have remained in the same family for generations.” Stretching from Blanes to the French border, Spain’s less opulent coast also boasts proximity to Barcelona, a city that has become a star attraction in Spain with its rich history and famed architecture. Much like the rest of Spain, the Costa Brava was hit hard during the economic crisis, more so than the Costa del Sol, said Mark Stücklin, head of Spanish real estate website Spanish Property Insight. This was because the Costa Brava had a bigger market share of local buyers. But the uptick in foreign investment is helping stabilize prices that remain roughly 40% lower than their peak in 2007.

RELATED: Sunnier Days for Spain's Housing Market This drop in prices coupled with the euro’s weakness against other currencies is luring many foreign investors, especially a large number of British and American buyers. For some buyers, like Mark Roche, a 61-year-old retired British architect, having the balance of coastal living with close access to a vibrant city is a factor. Roche bought two properties in 2012: one on the coast in Tamariu and another in central Barcelona. Both properties are recently built, with bespoke architectural designs, and he splits his time between them. “The Costa Brava is Barcelona’s playground,” said Stücklin.

A $2.3 million 5-bedroom, 4-bathroom villa in Costa Brava's Begur region. View full listing. COSTA BRAVA SOTHEBY'S INTERNATIONAL REALTY In 2014, the majority of Costa Brava prime residential property buyers were from the U.K., France and Russia. Buyers from the Middle East increased in 2014, while Russian buyers were strong in the first half of the year and less so in the final quarter of 2014. Northern European buyers drawn to the area’s generous supply of golf courses are currently among the most active in the Costa Brava. Typical inquiries from foreigners looking for homes in the Costa Brava, said Maidment, are for detached properties with four bedrooms and a private pool in prime areas of the coast, close to a beach, and with sea views. More: Tips for Americans Buying in MallorcaView full listing (pictured top)