Despite recent capital gains that have outperformed most other Spanish coastal areas, property prices on the Costa del Azahar are still attractive.

According to Juan Luis Gasco, marketing director of Onofre Miguel, a leading local developer, property prices are still 25%-30% below those of the northern Costa Blanca, and research at Spanish property websites reveals that roughly 70% of apartments for sale on the Costa del Azahar cost less than £140,000, compared with just 23% in the province of Malaga.

According to Spanish government figures, property in Castellon is more expensive than in Almeria and Murcia, as you would expect of a more prosperous region, but is cheaper than in the Canaries, Cadiz, Alicante, Malaga and Catalonia’s Mediterranean provinces. Property in the area is not a steal, then, but it is a good deal.

So where does one buy on the Costa del Azahar? There’s no denying that there are some pockets of heavy-handed development along the coast; for instance, the stretch between Castellon de la Plana and Benicasim, and the ghastly-looking Marina d’Or development just north of Oropesa del Mar. But even in those areas, development tends to be limited to a narrow strip along the coast and doesn’t sprawl inland. Part of the reason for this is that the hills of the Serra d’en Galceran rise quickly behind the coast, discouraging everything but beachside development. ()

Attractive towns on the coast include Benicasim, with its air of gentility and its world-famous jazz festival, and Peñiscola, with its imposing castle on a headland that juts out into the sea. The majority of resale flats along the coast are in the £100,000-£140,000 price bracket, though penthouses and luxury apartments with sea views will go for considerably more than this.

Semi-detached properties are often in the £140,000-£200,000 range, while villas start at about £240,000. There are also some outstanding new developments, with luxury specifications and impressive sea views as standard, such as the Portocala resort just outside Benicasim, being offered by British-based estate agency Jackson-Stops & Staff.

“And there are always the villages in the Maestrazgo mountains,” points out Lionel Westell, the Jackson-Stops & Staff associate in Castellon. “These have been depopulated, and if I turn up at one of them with British buyers, the mayor is over the moon.

“In this spectacular countryside, rural tourism is just beginning to take root, with rafting, hiking, mountain-biking and so on, although the lack of good roads in the area is still a big drawback.”

Westell says houses in stunning inland villages such as Morella go for between £27,000 and £110,000, while old farmhouses with some land start at about £140,000.

“It’s not for everyone,” Westell cautions, “but if you want to get away from the hustle and bustle of the coast, don’t mind the cooler temperatures in winter and want to be close to nature, then this might be the perfect place for you.”

Married to a Spaniard, Westell has lived in Spain for 20 years and has witnessed the dramatic transformation the country has undergone in that time.

“I think the Costa del Azahar has managed to conserve its Spanish identity and civility better than other coasts further south, which makes it enormously appealing to many British buyers, who crave traditional charm and decency,” he ventures. “I also think that the popularity of the region is going to surge when people realise what it has to offer, so now is the time to buy, before it gets any more expensive.”

One thing is certain: the Costa del Azahar’s access disadvantage will soon be history. Work has begun on the province’s own international airport, located near the town of Vilanova d’Alcolea. Once the airport is in operation — it is scheduled to open in 2007 — and once the high-speed rail link from Madrid to Castellon is finished, the Costa del Azahar will have been transformed into one of the easiest Spanish coastlines to reach, with access from Barcelona, Reus, Castellon and Valencia airports, along with TGV-style fast trains from Madrid and Barcelona.

The Costa del Azahar might well be just about to blossom for British buyers.

On the market

At Portocala, a five-minute drive from Benicasim, a three-bed apartment with use of pool and hotel spa is for sale for £380,000. Jackson-Stops & Staff, 020 7828 7387, www.jackson-stops.co.uk

A four-bedroom villa in Ontinyent on the western side of the Albaida Valley, with three bathrooms and two living rooms, is for sale for £180,000. Valencia Estates, 020 8308 1337, www.valencia-estates.com

In the Port Saplaya marina development, a 20-minute drive from Valencia airport, this two-bed flat with sea views is for sale for £229,500 with Valencia Estates, 020 8308 1337, www.valencia-estates.com

A two-bed, two-bath flat in Peñiscola is one of 780 flats due to be completed in 2008; it has use of a communal pool. For sale for £94,000 with Headlands International, 01933 654 000, www.headlands.co.uk

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