Plans to make Jerez the second city in Andalusia should boost property sales in the region in 2008.
Recently, Senor Manuel Chaves, leader of the regional Andalusian government, announced that he wants Jerez to become the second city in Andalusia, after Seville.
This could be good news for buyers, as prices in Jerez currently are 46% cheaper than the average for Spain and Chaves’s statement is likely to boost the profile of this undervalued city.
‘As a forecast for 2008, it is fair to say we can expect property prices in Jerez to grow anywhere between 5 and 10%. With homes in Jerez up to 77% less than their equivalent in Seville or Cadiz, there is plenty of room for capital growth,’ says Spanish property expert Chris Mercer, managing director of Mercers Ltd (www.spanishproperty.co.uk).
The opening of a second runway and enlargement of the terminal at Jerez international airport has boosted the region, as well as the extension of the AVE (high-speed train network). When complete, Seville will be only a 20-minute ride from Jerez.
‘The property market in Spain has slowed over the past year, mainly in the more popular areas on the southern coast. Some areas, like the Costa Calida and the Costa de la Luz, have not been affected as much and will play a huge part in the rehabilitation of Spains image as the UK’s number one destination for the second home market,’ adds Mr Mercer.