While the better-known Costas of Spain jostle to grab the headlines, Vigo nestles with quiet dignity on the Galician coast just above Portugal, like a gem waiting to be discovered. Lucas Fox has chosen Vigo as the destination for one of its latest offices.

by Carrie Frais

Article published on September 27, 2018 in LF Inspires

Article tagged with Galicia

Discovering Vigo

Vigo is the largest city in Galicia, the southernmost of the Rías Baixas, an area of four distinct river inlets on the Atlantic coast that share rich marine life and one of Spain’s most beautiful landscapes.

Nestling between the sea and a rugged backdrop, Vigo has flourished throughout history, and now a new generation of property buyers is discovering its long underappreciated charms.

The town has sleek new buildings but also a charming and vibrant old town. Both areas of the city offer a wide range of beautiful properties, while charming stone cottages dot the countryside and offer a more sedate pace of life. Each spring the city transforms into a lively 19th Century scene for the weekend, celebrating the day they successfully expelled Napoleon from their city.

The high quality of the Galician food is recognised and coveted throughout Spain. In Vigo you have the opportunity to experience a vibrant urban centre combined with a rich culinary tradition specialising in river fishing and seafood, with a particular enthusiasm for oysters.

Alberto González, Michelin-starred chef at Silabario

This fascinating coastline offers plenty of opportunities to explore. The Cíes Islands are part of the Atlantic Islands of Galicia National Park and home to some crystal clear waters and bright white sandy beaches including Praia das Rodas, often voted one of the finest beaches in Europe.

Those who choose to set up home here are constantly rewarded by a perfect blend of tradition, beautiful scenery and an endless choice of great restaurants and wineries. The nearby Ribeira Sacra boasts numerous wineries and stunning views of the canyon, where you can see examples of heroic viticulture, one of the most unique ways of growing grapes.

The city has plenty of green spaces and is surrounded by beautiful forest parks that are ideal for hiking, biking and climbing. The lush, dramatic hills around the city are often compared to Scotland because they are wild but also achingly beautiful.

It is said that there are nearly 50 beaches to choose from, all ideal for relaxing, catching the sun or hitting the surf. With mild winters and summers that compare to anywhere else in Spain there are plenty of chances to enjoy outdoor pursuits.

Vigo is an excellent choice for international residents, with 3 regional airports. A planned AVE station will give the city fast rail access to the rest of Spain.

You may not be familiar with the name, but once you discover the charms of Vigo for yourself, it’s easy to see why so many property buyers are putting this very special city on their wish lists.

“Property prices in Vigo have risen over the past 5 years by around 20% with the best upscale apartments in the most sought-after area of Plaza de Compostela now commanding up to €4,000 per square metre. Primary demand is for properties in move-in condition, with a lack of supply pushing up prices and fuelling a buoyant rental market that has seen prices rise by 40% in the same 5-year period.

International interest is growing, primarily from overseas buyers with links to Galicia and people who come to visit and discover the wonders of the city for themselves. Our current client list includes buyers from Switzerland, Italy, Brazil and Venezuela, and while most follow the local preferences for properties in good condition, renovation projects are still selling, and farmhouses and estates outside the city are also in demand.

This year the Vigo City Council is reopening licences for New Developments, which is a significant event given the extent to which demand outweighs supply for new-build properties. These will take up to three years to develop, but prices will still remain a lot more accessible than in Madrid and Barcelona, which has seen 50% price growth since 2010.

With its beaches, relaxed lifestyle, great climate, comparatively low cost of living and easy connections, we expect local and international demand for property in Vigo to grow as the city builds its profile on the international stage.”

Rafael Rosendo, Lucas Fox Vigo