Spain Profile

Christopher Columbus’ discovery of America in the 15th century put Spain amongst the world’s leading nations, a position they have only recently re-established after several hundred years of wars and slumps in economy.

After a difficult start to the 20th century that included a Civil War and subsequently nearly four decades of dictatorship, Spain has recovered to become one of Europe’s leading nations in the 21st century. After achieving relatively stable democracy in 1978, Spain joined the European Union in 1986 and has since enjoyed an economical and cultural renaissance.

Second only to France as the world’s most popular tourist destination (53 million people visited Spain in 2004), Spain has long been a favourite for UK residents. People visit Spain for the fantastic cities, ideal climate, wonderful, fresh Mediterranean diet and rich tradition and heritage.

Where is Spain?

Spain is the largest of the two sovereign states that makes up the Iberian Peninsula (the other being Portugal) in south-west Europe. It also comprises the Balearic Islands (Mallorca, Menorca and Ibiza in the Mediterranean Sea) and the Canary Islands (Tenerife, Lanzarote, Gran Canaria etc in the Atlantic Ocean. Mainland Spain borders France and Andorra in the north, the Atlantic Ocean on both sides of its border with Portugal in the west, the Mediterranean to the east, whilst the Strait of Gibraltar separates Spain from North Africa in the south.

What Language is spoken?

The official language is Castilian Spanish, spoken by 74% of the population. Catalan is spoken by 17%, Galician by 7% and 2% of people speak Basque. English and German are also both spoken.

What is the Currency?

The currency of Spain is the euro, which is divided into 100 cents.

What is the Weather like?

The majority of the country has a continental climate, which sees massive variation in temperatures and low, variable rainfall. The south-east has a Mediterranean climate, where in summer the average temperature is 27˚C. In some parts of Spain, summer temperatures can reach over 40˚C.

Overview

Whilst many of the advantages to living in Spain are obvious – the climate, wonderful diet, lively, modern cities – the state of the property market is still in good health, as many foreign investors are still discovering. Spain continues to attract overseas investment due to low interest rates and accessible finance. The market is strong and established, with house prices still rising. Almost two million overseas investors now own property in Spain, and a further 150,000 properties are to be built over the next few years, many of which will be owned by foreign investors. With its easy access and potential for long term gain, Spain remains the destination of choice for many jet-to-let investors.

For more facts and figures on Spain click here