But how did Jerez earn the right to immunity? Chris Mercer, Director of Jerez property specialists, Mercers, explains.
"When the Spanish property market started to falter in 2007 Jerez was in a very strong position," says Chris, "according to figures from Spain's leading property portal, Fotocasa, price per square metre in Jerez was 46% cheaper than the national Spanish average and a mammoth 77% cheaper than nearest-neighbouring city, Cádiz. In spite of adverse market conditions, Jerez clearly had some catching up to do and the potential for capital growth was obvious thus keeping the local property market buoyant.
As we continue through 2008 the effects of a global economic downturn and less than favourable exchange rates are of course presenting various challenges, but, Mercers is experiencing a steady flow of buying activity from both overseas and domestic customers. With a thriving rental market and undervalued prices, Jerez is still very much a shrewd mid- to long-term investment proposition."
Most famous for being the spiritual home of flamenco, the birthplace of sherry and centre for Andalucian dancing horses, Jerez has many more aces up its sleeve for a dynamic future. The international airport at Jerez, already served by daily Ryanair flights from the UK, is being improved to include a new runway, enlarged terminal building plus more parking and is expected to serve four million passengers annually by 2012 (up from 1.4 million in 2006).
Crucially, Jerez Airport will also become the only Spanish airport, with the exception of Barcelona, to have its own AVE (bullet train) station. This AVE will bring Seville, currently a 45 minute drive or hour's train journey, within reach of Jerez in just 20 minutes opening up the genuine possibility for Sevillanos to commute from a lower priced, less congested city.
Jerez's historic quarter, the 'Casco Histórico', is the most coveted part of town, a walled medina characterized by cobbled streets, lively tapas bars and the elegant palaces of the sherry dynasties. With a finite supply of property and strict planning controls to include build height and the preservation of façades and ancient doorways, demand will always be strong and prices always appreciate. In short you would be hard-pushed to lose money in Jerez. With affordable entry level prices and a clear exit strategy selling to commuting Sevillanos, Madrileños or international clients keen on a holiday home, retirees who want an authentic Spanish experience within 15 minutes of the coast or taking the buy-to-let route renting to visitors to the city (hotel occupancy is as high as 85% all year round), Jerez's property market is the envy of Spain.
