Today’s Spain is a young vibrant country. No land is so diverse or enjoys such an excellent climate. It has a strong personality, is full of rich traditions and has a totally unique culture. Tourism has changed its face forever. Fishing villages have been replaced with skyscraper hotel blocks. Yet only a few kilometres inland towns and villages lie untouched, retaining their own distinctive lifestyle. The old links to agriculture still exist. Orange and lemon groves, almond trees, thousands of acres of vines and millions of olive trees still remain.

Spain has many sides to its character. Visit the incomparable Alhambra in Granada where Jews, Christians and Arabs once lived in peace. Birds of prey soar high over the castles of the Costa Blanca. In spring the pink and white almond trees blossom profusely. Orange, lemon and cherry trees add additional colour with the red wild poppies. Ancient windmills are silhouetted against the blue sky. In autumn the browns change to a purple green as the countryside softens with the advent of gentle rain.

Of course there are the Spaniards themselves. Cordial people. A loquacious race, they can be friendly, enthusiastic, and tolerant all at once. Charming people as they are, they tend to speak very rapidly in a regional language which seems to be quite different to the Spanish learned at night school back home. They have a different body clock too. They can be noisy, eating at some ungodly late hour. Then there are the frustrating delays. People do not rush about. If you need something repaired, it often takes longer than it should. But people adjust and learn to be patient. It is important to understand the Spanish mentality and their way of life. Don’t dash about, learn to relax, live for today and not tomorrow.

Spain is also Europe’s biggest holiday playground, playing host to some 50 million foreign visitors each year. They enjoy the delights of a traditional family holiday on the Islands or the Costas. Many explore the deep green pastures and cities of northern Spain, or sample the rural way of life. They may soak up the sun, look at the sights or partake in outdoor activities. Spain – so many things to do and so many places to see. There are the endless days of sunshine, incomparable scenery, beaches of fine sand, high mountains, vast plains, balmy moonlight evenings, good wine, many fine restaurants and a variety of nightlife.

Visitors to Spain stay in the many thousands of tourist hotels and now in the new breed of macro hotels each with upwards of 1,500 beds. The tourist industry is also justifiably proud of its unique hotels called Paradores, the majority of which are restored historic monuments such as castles, monasteries, convents or palaces, with great care taken to preserve their decor and distinctive characteristics. Accommodation can additionally be provided by hostels, pensions, spas, guesthouses, farmhouses, inns, campsites, timeshares, holiday homes and rented property.

People who own a holiday home in Spain may be interested in letting it out in order to provide an income to cover running costs and to help with mortgage payments. It is highly unlikely however that all outgoings will be met from rental income as the holiday season is too short and there is simply too much competition. The holiday letting season is longest in the Canaries where properties have year-round letting potential.

Enter the new breed of buy-to-let property owners. They are not commercial property developers since they wish to enjoy the benefits of their purchase too. But they do recognise the conundrum that a home is bought with the heart, a commercial property with the head and a Buy to Let property for Fun and Profit.

In almost any community in the world, the richest people are almost invariably the landlords, people who own property and rent it out to others. Landlording is probably the world’s second oldest profession. How many times have you heard someone say, ‘If only I had bought that property years ago I’d be wealthy today?’ While most people believe property is the best way to keep up with and get ahead of inflation, too many potential buyers just talk about investing and do not take the first step of buying a second property.

Most homeowners have watched the value of their property skyrocket, and dream of their wealth. The problem with that, of course, is that they always need a place to live, so if their house is sold and a profit taken, they still need another and usually more expensive home to live in. As a result, some of these owners have realised that the way to succeed is to buy a second, third, or more homes. That way they can treat the other properties as true investments and cash in on the profits.

Property has not always increased in value. Following the Lawson boom-years property values increased rapidly, and fell just as abruptly in 1996. This was the first major property recession since the end of World War II. There will always be short-term booms and some recessions but the prospect for long-term steady growth seems excellent.

If it’s so easy to make money by owning income property, why aren’t more people landlords? Why is it that the average person shies away from getting involved? A lack of knowledge is probably the greatest deterrent. People need to know how to get started, how to buy right, and how to finance a purchase with little or no money down. Tenants are the second major reason why people are afraid to become property investors. They’ve heard all the horror stories about unpaid rent, late night complaints, vandalism, and all the other bad things that can come with letting property.

The key to successful long-term property investment is to let a property for its annual costs. If this can be done then the property essentially pays for itself, as each year it is owned its value goes up. But to do this the property must be in a good location, have a plentiful supply of good tenants and the owner must learn to be a good landlord.

Property in Spain is not expensive. It is quite different and the choice is great. Houses with distinctive styles are built on urbanisations, on individual plots or scattered on hillsides. Many enjoy distinctive country houses known as fincas and traditional town houses. Buyers want homes to enjoy for themselves and their families – for fun and income.

Spanish buying procedures are also very different. Forget the traditional approach of putting in an ‘offer’, arranging a mortgage and asking your solicitor to sort things out. Prospective buyers must carry out research and ask questions themselves, rather than assuming a solicitor will deal with these matters. Learn about the Abogado, the Notary, and the Gestor. It will make things so much easier. It is necessary to understand the Spanish conveyancing system from start to finish. It can trap the unwary in a country where there are many property horror stories.

This book is not for property speculators. The aim is to help buy-to-let investors seek their first property in Spain, impart knowledge and deal with some anticipated problems.

Harry King, Pedreguer, Spain