A Perfect Part-Time Base In Old World Spain

Spain should be near the top of your list for a retirement or second home destination. The lifestyle is fantastic… the cost of living is relatively low… the cost of properties is reasonable… and the language is fairly familiar.

Spain, in fact, was my first overseas destination, years before my wife and I finally settled in South America.

I’ve enjoyed repeated visits to Spain’s major cities, and the countless attractions they hold. From Madrid to Barcelona… and from Granada to Seville, we, along with millions of others, have enjoyed the best of what Europe has to offer.

But for full-time living?

If you’re planning on moving to Spain, you need to know what lies in the north of the country. It’s an area that seldom makes the headlines or the tourist brochures, but has much to offer.

And near the top of my list in the north is the capital city of Oviedo.

A Medieval Treasure In The North Of Spain

We first visited Oviedo (pronounced oh-vee-EH-doh) because of family connections to this part of the country. But over the years, it’s come to be our favorite part of Spain for its own intrinsic value.

And I like it even more lately, thanks to Oviedo’s low cost of living and status as a climate change haven. While some parts of Spain are experiencing record-setting heat and drought, this region has plenty of fresh water and a lush, green landscape.

Oviedo, Spain, is a university town and the capital city of the province of Asturias, which lies on the northern coast of Spain on the Bay of Biscay.

Once the Kingdom of Asturias, it’s one of the only provinces that managed to fend off the Moorish invasion in the 700s A.D. It was a haven of original Spanish ethnicity and Christianity as the rest of Spain was dominated by the Moors and converted to Islam.

Located less than 15 miles from the sea, Oviedo was founded in 761. Here you’ll find some of the finest examples of medieval architecture in Europe as well as Europe’s greatest number of pre-medieval and Visigoth landmarks dating onward from roughly 500 A.D.

The weather in Oviedo is moderate… cool, compared to the rest of Spain.

The average high temperature is in the low to mid-70s°F during the summer (22°C), and the low-50s°F during the coldest days of winter (11°C).

Rain falls fairly consistently throughout the year, although the summer is driest and the winter is wettest. The total annual rainfall is about 38 inches (962 mm), on par with much of the eastern U.S.

Oviedo has been recognized as the cleanest city in Spain on multiple occasions, and proports to be the cleanest city in Europe.

The city also claims to be one of the safest in Europe. In a recent survey of Oviedo’s 220,000 residents, 94% of the respondents reporting that they feel safe in Oviedo.

The food and restaurants in Oviedo earn consistently high marks from residents and visitors, with dozens of fine dining and casual options worth writing home about.

Cheeses, seafood and shellfish are signature staples here… but the most-prominent signature dish in Asturias is Fabada Asturiana, a savory stew made of fabada beans, meats (often ham or chorizo), simmering in a rich, hearty broth… a broth that you’ll finish every drop of with a piece of bread.

And the cost of eating out is reasonable. We spent about 40% to 50% less for a good meal here than we did in Madrid later in the week.

The Advantages Of Living In Northern Spain

Here are some of the advantages I found when comparing Oviedo and its surrounding region to southern Spain.

It’s lush and green: Northern Spain has no water worries… quite unlike the western U.S. or even other parts of Spain. The rain is not excessive, but enough to make Asturias the greenest area in the country.

That said, if you have your heart set on a Spanish venue that offers 330 days of sunshine per year, then this area will not be for you.

Low cost of living: By European standards, the cost of living in Oviedo is low. Everything from rent to dinner out on the town will surprise you with its low cost. I’d estimate that a couple could live a fun and fulfilling lifestyle here on about 2,600 euros (US$2,783) per month.

Low cost of properties: Properties too, are inexpensive by world standards. A two-bedroom apartment in the historic center will cost about 37% less than a similar property in Portugal’s Algarve. Oviedo is a good deal for European living. More on properties below…

Excellent local wines: Northern Spain’s wine industry is respected throughout the world, and it’s a great place to buy excellent wines at remarkably low prices. Even by the glass, I’ll pay about four bucks for a glass of Rioja that would cost US$19 in California.

Cleanliness is amazing… especially after living in a number of Latin American countries.

From the smallest 14th century village to the regional capitals, everything in northern Spain was spotless. The streets and alleyways were cleaned daily, and highways were clean and well-kept.

And you’ll appreciate the following attributes anywhere you go throughout Spain:

The medieval surroundings: I’m still awestruck by the history and the past that’s reflected here. For expats from the U.K. or Europe, thousand-year-old historic sites are not that unusual.

But for Americans, our entire history is just a short blip in Spain’s past.

As someone who appreciates architecture, I get enjoyment from these surroundings every day as I pass by and enjoy spending time driving between the old villages while trying to absorb their past.

The infrastructure is noticeably better than the infrastructure in the U.S. The highway system throughout the north of Spain is in excellent condition and well-marked.

You can drink the water from any tap, and the electricity and internet are reliable. Even the smallest tertiary roads in tiny villages were well-maintained and in good condition.

In short, living in Oviedo can be a good option for a future retirement plan.

Oviedo’s Property Market

There are two areas that continue to hold my interest in Oviedo. One is the central district around Campo San Francisco… the huge park at the center of the city. For its convenience, attractiveness, and rentability, I like the area within a few blocks of the park in any direction.

The other area I like is just northeast of Campo San Francisco, outside the ring road in the area known as Pumarín.

Many students rent in the area to be near several university campuses, while being not too far from the amenities and city life near Campo San Francisco.

· All apartments I surveyed were decent units that I’d consider myself for a rental. I looked for quality units, but tried not to “over-spend”. If I were shopping for a personal residence, I’d spend perhaps 25% more than I would for a rental here.

· The average cost of all the one-bedroom units I surveyed (all near Pumarín) was about 123,400 euros (US$135,600), or about US$2,669 per square meter…

· For the two-bedroom units near Pumarín, the average price was 138,800 euros (US$152,500), or US$1,916 per square meter.

· For the two-bedroom units near the upscale Campo San Francisco, the average price was 237,600 euros (US$261,100), or US$2,842 per square meter.

Is Living In Oviedo For You?

I intend to keep looking in the area around Campo San Francisco, with the idea of setting up a part-year residence.

The potential returns will be low, but to me, the lifestyle angle of a higher-end unit will be worth it. I may consider using it as a part-time vacation rental to defray the cost of ownership.

Remember that the lush, green mountains and valleys in this region mean that you get ample rain throughout the year, almost as much as the eastern U.S.

If you’d like a home in medieval Europe—at a cost of living that’s half the cost of Madrid—then Oviedo is well worth your attention.

Sincerely,

Lee Harrison

Contributor, Global Property Advisor