Working online makes more people location independent, offering them the lifestyle they’ve dreamed about for years. Working online from a sun terrace in the Mediterranean climes of the Costa del Sol or from a balcony overlooking the hustle and bustle of a street in Lisbon in Portugal, is just as feasible as working from a beach hut in walking distance of palm trees and white sandy beaches in Costa Rica.
Losing one’s job in the current economic climate can be a devastating blow. For some the bottom falls out of their world, while others see it as an opportunity to finally leave office politics behind for good and set up in business on their own. They join thousands of other hopefuls online, where a quiet revolution has been changing the way in which we view redundancy and unemployment.
Working from home and via the Internet is no longer the preserve of software programmers and web designers. From micro businesses selling CDs to holistic remedies or catering businesses providing wedding cakes, everything is possible online. There are virtual personal assistants, copywriters for advertising slogans, successful blogs on DIY or travel or education and people who provide internet platforms for TV stations.
The beauty of internet technology as the means to earn a living is that workers can conduct business from wherever they like. With Spanish house prices being lower than they have been for a decade, the temptation to relocate to enjoy an outdoor lifestyle in southern climates has been greater than ever.
The Costa del Sol, although still pricier than other parts of Spain, has well established expatriate communities representing several different European countries – from Brits to Germans, from Dutch to Russians, from Belgians to French and various Scandinavian countries – which make resorts like Marbella, Estepona and Mijas Costas preferred targets of international relocators and property buyers.
Far lower property prices than those at home means selling up and leaving one’s home country could mean a mortgage free life and far greater balance in a work/life context.
In Marbella for example, leading house builders Taylor Wimpey España offer 3 bedroom, 2-bathroom apartments within a 4 minute walking distance to the beach and close proximity to San Pedro’s amenities for a jaw-dropping EUR 195,000, while in other parts of Marbella front line golf 2-bed apartments in Le Village, Nueva Andalucía are offered for less than EUR 250,000. One bedroom apartments in Alhoa, a gated community near Le Village golf links, where properties command sea and mountain views, cost as little as EUR 125,000.
The close proximity to sports facilities like golf and tennis courses, international schools, bars and restaurants and many free Wi-Fi zones within the centre of Marbella make the Costa del Sol a top spot for potential internet workers.
What are the Drawbacks of Relocation to Spain, if any?
Getting an above 50% loan to value mortgage from Spanish banks is nearly impossibly in the current economic climate. Cash buyers rule the Spanish housing market and the private rental sector has seen continuous rent rises. VAT has just gone up and various other stealth taxes are to follow on a national and regional level.
Public sector cut backs have made an already bureaucratic country even more cumbersome to deal with when it comes to setting up in business. Living costs as a whole have risen steadily and although a weekly trip to the grocery store is still cheaper than in the UK, living at the Costa del Sol is no longer as low-cost as it once was.
Despite Drawbacks, is now a good Time to buy?
Absolutely! Internet workers have few overheads and with reduced heating and mortgage borrowing costs, the first two years of online trading will be easier, while an uncertain cash flow gradually grows into a steady income.
Already estate agents predict property prices in areas like Mallorca and Marbella at the Costa del Sol are set to rise in 2013. Last year Engels & Volkers, a specialist realtor dealing with the top-end of the property market, had the best sales year since 1977, a clear indication that prime Spanish property is as popular as ever.