Things could be about to get spicy in my team’s group chat on WhatsApp…
Recently, I sent my senior researcher Margaret Summerfield to scout Spain’s southeastern Mediterranean coast.
Margaret’s my original scout. She’s been with me since the start. So, her bar is very high when it comes to beach towns, on the Mediterranean Sea or anywhere else. It takes a lot to impress her.
So, when she starts singing the praises of a town, I sit up and takes notice…
The beach town that’s impressed Margaret is called Águilas.
She recently spent a few days there, and the photos and reports she’s shared in our WhatsApp group have really captured my interest. She’s even found some amazing properties at what seem like excellent prices.
But here’s where we might be heading for a disagreement…
She says: “This isn’t a location where you can expect big capital gains on a property purchase or strong rental yields. It’s very much a lifestyle location, for a quiet retirement, or to escape the crowds.”
I’m not so sure…
The thing is, when a compact little beach town this nice gets discovered, people come and values soar.
Could Águilas be a new hotspot on Spain’s Mediterranean coast? I’m scratching and digging. And I want to follow up on Margaret’s scouting trip.
In the meantime, you can check out what Margaret found below…
Wishing you good real estate investing,
Ronan McMahon, Overseas Real Estate Expert
P.S. Have you ever visited Águilas? Maybe you’ve been to an underappreciated gem on Spain’s Mediterranean coast? Let me know by replying to this email. I’m always interested in hearing where you want us to scout next.
The Odd Man Out in Águilas
By Margaret Summerfield
“If you’re in Águilas, you’re either from Águilas or you know someone that is.” So, a local contact said. As always, I was the odd man out. I’m not from Águilas and I don’t know anyone that is.
I’m just back from a scouting trip across the Costa Blanca and Costa Cálida, in southeastern Spain. The town of Águilas was my base for a few days. The plan was to head farther south, cover a lot of miles, and hopefully find something worthwhile.
Águilas is tucked away in the southeastern corner of Spain, along the country’s breathtaking Mediterranean coast.
Águilas is a port town, slow and sleepy. It dates back to Roman times, when the town produced small flasks, or amphorae, possibly for transporting a type of fermented fish sauce called garum. After the Romans came the Visigoths, Arabs, and British.
The most famous British resident set himself up on an island just off the coast called Isla del Fraile.
Hugh Pakenham Borthwick was a top-level British spy, reporting on ship movements in the area during World War I. He left the island in 1920. I found his tax bill even more shocking than his spying. When he died in 1951, he left an estate in the U.K. valued at just over a million pounds. The estate paid £926,791 in death duties. More than 90% in tax!
The Plaza de España square in Águilas is a charming spot to enjoy an al fresco meal.
Today, Águilas is quiet out of season. It gets busier in the summer but it’s never too crowded. It’s not glitzy or high end. But it offers a relaxed pace of life and a very affordable cost of living. With miles of unspoiled coastline, there are little coves, sandy beaches, and plenty of places to swim and snorkel.
The tourist sights are few and far between. There’s a castle set high on a hill overlooking the town, Castillo de San Juan. The historic district is tiny but charming. Plaza de España is a nice spot for hanging out, eating tapas, enjoying a cold drink or an espresso.
There’s a small marina and a choice of beach cafes and restaurants for alfresco dining. Plus, there’s a promenade that runs alongside the beach:
The tree-lined seafront promenade in Águilas is the lovely spot to take in the town’s unspoiled coastline.
I paid €70 a night for a room with a view in the town’s nicest hotel. The view was gorgeous. The room, not so much.
This isn’t a location where you can expect big capital gains on a property purchase or strong rental yields. It’s very much a lifestyle location, for a quiet retirement, or to escape the crowds.
Here are some listings I spotted whilst walking around town. Please note, I haven’t viewed them or done any due diligence on them.
You can buy small condos for under €100,000. Properties with a sea view will cost more, but I saw some listed from €130,000.
You do need to check the listings, though. Some older buildings don’t have elevators, the condos might not come with any air conditioning or heating, and the promised sea view might involve leaning sideways over your balcony!
First, I found a condo with a sea view from the open-plan living space. It’s got three bedrooms, one bathroom, and it’s been renovated. It’s a stroll from the beach, the promenade, the main plaza, restaurants, and retail stores. The asking price is €255,000. See listing here.
There are homes in two new complexes 100 meters from the beach. I passed these when walking from my hotel to the Mercadona supermarket. They’re within walking distance to everything the town offers. They are three- and four-bedroom homes, from 2,400 square feet in size upwards. Prices start at €325,000.
On the other side of town, overlooking Isla del Fraile is a neighborhood of newer condos and homes. There’s a range of new and resale condos for sale listed from €195,000 to €412,000. Condos with a sea view start from €250,000.
This one has two bedrooms, two bathrooms and a spacious terrace with views of one of the communal swimming pools and the sea. It’s nicely kitted out and comes furnished and equipped. Listing here.
I enjoyed my time in Águilas. But other destinations were calling. Next stop: Mojácar. I’ll let you know what I found next week.
Ronan says: As I say, Águilas seems like an impressive find. I’ve added it to my list…I plan to follow up on Margaret’s visit to see it for myself.
Spain’s Mediterranean coast has long been one of the key places on my global beat. This is a place that my team and I scout regularly and where we’ve consistently found incredible opportunities.
My top destination along Spain’s Mediterranean coast right now is the town of Estepona. It’s ranked third on my list of the 10 best places in the world to own real estate in 2024. (Check out the full list here.)
Estepona offers great restaurants, a beautiful old town, and a stunning beach. There’s a palm-lined waterfront boardwalk, botanical gardens, and a glass-domed orchidarium. And it has retained its traditional Spanish charm in a way many other towns have not.
Right now, I’m closing in on something special here…an incredible opportunity to own sea-view condos at prices that will beggar belief. I plan to share the details with members of Real Estate Trend Alert group soon. Find out more about RETA here if you’re not a member.
Your Daily Dream Home
Osby, Osby, Sweden
$80,900
This villa is in the small town of Osby, situated in Sweden’s southernmost county of Scania. Osby is surrounded by lakes and rivers that are popular swimming and fishing spots.
The first floor of this house features a large living room, dining room, kitchen and balcony. A staircase in the hall takes you to the second floor, which consists of two bedrooms and a bathroom.
Remember, we don’t make money from any listing shared here in the Your Daily Dream Home section. We have no dog in the fight. We’re just sharing cool properties we’ve found.
I haven’t visited this property or done due diligence on it. If you’re interested in the listing, you should hire an attorney and do your own due diligence.
