FOR most of us, Seville represents everything typically Andalucian: orangetrees, clip-clopping horses, tapas bars and mighty monuments to the region’s history. But 50 miles down the motorway, the citizens of Jerez de la Frontera would beg to differ. Jerez is the home of that most Andalucian drink, sherry. It’s also the birthplace of those beautiful Carthusian horses and (despite the claims of rivals) it is the cradle of flamenco.

That’s a big legacy for a city of 200,000 people but, with a confidence bordering on the arrogant, Jerez wears the mantle well.

Apart from its year-round warmth, Jerez is wealthy (thanks in no small measure to the sherry industry) with an elegant centre full of manorial 19th-century houses on tree-lined avenues and grand squares. When the heat of the summer months gets too much, the broad, sandy beaches of El Puerto de Santa MarÍa are only 20 minutes away.

So it is surprising that this corner of Spain has hardly entered the radar of overseas buyers – until now. Over the past 18 months the property market here has been bucking the volatile national trend. The market is stable because it has been dependent on Spanish buyers – who have seen a 40 per cent price increase in the last five years. And with a 12 per cent rise predicted for 2007, the city looks more attractive than ever.

For Barbara Wood, of The Property Finders, the crucial factor is improved access. “Western AndalucÍa is seeing the benefits of massive road improvements, and Jerez is perfectly positioned to take advantage of this.” Jerez has been well connected with Seville and the Costa de la Luz for some years, but a new motorway running east will eventually stretch to Antequera. New ring roads are also in use or under construction, linking with the city’s airport, which is well-served by low-cost carriers.

The domestic market’s interest in Jerez ensures that it isn’t cheap – although British buyers will find prices a pleasant surprise.

Chris Mercer has recently opened an estate agency in the city centre specialising in older properties. A growing swell of foreigners – particularly British and Irish – prompted the move, but his enthusiasm for Jerez is obvious.

“I defy anyone to stroll along the streets and not to be smitten,” he says. “There’s so much that’s typically Spanish and the renovated properties coming onto the market are perfect for foreigners.” His buyers either look for a low-maintenance property for weekends and holidays or for something that needs refurbishing and renovating.

“Lots of the renovated properties are sympathetically done, with modern buyers in mind. We have several on our books that would fit into London’s Docklands,” he says. One-bed flats start at around £90,000, but just over £500,000 gets you a mansion house with a huge patio, roof terrace and even a tower (more than 10,764 sq ft in all) round the corner from the main shopping area. “Jerez has been overlooked, so it is still remarkably good value, considering the beautiful environment. And it has strict planning regulations, which means that its look doesn’t change,” says Mercer.

Ana Davidson, of Marbella to Marrakech property finders, says that foreign buyers want “something they can do up and perhaps convert to a high standard, keeping a penthouse for themselves and selling off the rest or making a business from it. The older houses with an internal patio are the most sought after.”

Fiona Elliott-Goodall, of Andaluz Homes, has lived in the city for years and praises its easy access to mountains and the beach, while Barbara Wood says that Jerez combines modern amenities with the feel of Seville as it was 25 years ago. “Everything is easy to get to, and street life, restaurants and cultural activities abound. The city should see steady capital growth over the next five years.” www.thepropertyfinders.com; Mercers, www.spanishproperty.co.uk; www.marbellatomarrakech.com; www.andaluzhomes.com

To read our Times Online guide to buying a property in Spain go to timesonline.co.uk/spanishproperty

To search for Spanish properties on propertyfinder.com click here

To find properties in Jerez de la Frontera on properazzi.com click here

Explore Property

• Buying & Selling

• New Homes

• Overseas

• Interiors

• Investment

• Gardens

• Cool In Your Code

• Specials

Times recommends

• Spanish property: why it's crunch time on the Costa del Sol
• Strong Euro and credit crunch impact overseas property buyers
• How to find the perfect Paris pied-a-terre