Buying property in Spain is a fantastic life investment. Not only can you benefit from a second home in one of Europe’s best countries with the opportunity to get Spanish residency, but you can also get high returns on your investment due to the high demand of short-term rental property. This guide gives you useful insights on how to buy real estate in Spain.
Buy property and get residency
Obtain a Spanish passport in ten years
Booming real estate market with high capital growth
Safe and stable country
Fantastic climate
Variety of property typesIf you are considering purchasing property in Spain, now is the time to do it as selling prices are currently going down. With Spain’s high quality of life, incredible culture, diversity, and delicious cuisine, it’s no wonder why a high number of foreigners are drawn to Spanish real estate — in fact, foreigners account for around 20% of Spain’s real estate market buyers.
There are many advantages for foreigners looking to buy property in Spain:
Buying property in Spain can give you the incredible opportunity to receive Spanish residency, ultimately allowing you to get a Spanish passport. Launched in 2013, the Spain Golden Visa program allows investors and their families to receive Spanish citizenship in exchange for an investment in real estate of a minimum value of €500,000.
To learn more about the Spain Golden Visa and its different investment routes, have a look at our Spain Golden Visa guide by our local experts.
You can basically buy property anywhere in Spain. Ultimately it comes down to what region you prefer and the type of lifestyle you are looking for. Below are some of the best places to buy property in Spain.
Located in Andalusia, Costa del Sol is one of the most famous places to get holiday homes in Spain. Foreigners are drawn to Costa del Sol’s amazing climate and fantastic beaches. You will find that life is very relaxed and charming in Costa del Sol, with plenty of activities and enjoyments available. Málaga and Marbella are also some of the best cities to live and buy property in Costa del Sol.
Barcelona is the main city of Catalonia, and one of the most famous destinations in the world. The city is very multicultural and is bustling with cultural activities and entrepreneurial spirit. In a nutshell, Barcelona is a fantastic place to live in and ideally located by the sea. With the city being extremely popular among tourists, it is a very good place to invest in rental apartments. Be aware that real estate property in Barcelona is more expensive than in other Spanish locations.
Madrid is the capital city of Spain. It is famous for having a very good work-life balance, offering plenty of jobs and entertainment. It has great museums, restaurants, and bars. Its infrastructures and facilities are very developed and it is easy to feel welcomed. As it is the capital city, real estate prices are higher than average.
Valencia is the third-largest city in Spain. Its climate is very pleasant and mild, and it is appreciated for its relaxed pace of living – way more peaceful than Madrid and Barcelona. Located close to the sea, Valencia has a large port area with a beautiful promenade filled with bars and restaurants. It is also famous for its many green spaces. The real estate market in Valencia is considerably cheaper than in Madrid and Barcelona.
Famous for their beauty and idyllic beaches, the Balearic and Canary islands are some of the best places to invest in. Whether it is in Menorca, Mallorca or Ibiza in the Balearics or Tenerife in the Canary Islands, you will find fantastic properties right by the sea. Not only is the quality of life amazing, but owning a property brings high returns on investments as, during tourist seasons, demand for rental properties is high.
There are no restrictions on buying real estate in Spain as a foreigner. You just need to find the right property, and make sure that all the paperwork is in order to proceed with the transaction. We recommend hiring a lawyer during the process in order to get the best legal guidance.
Be aware that there are two types of properties in Spain, their main differences come from the taxes that will need to be paid during the purchase.
Below is an estimation of Spain real estate market prices per m2 per region:
Interested in buying property in Spain? Get in touch with one of our real estate specialists.
We are a boutique investment firm with years of experience in assisting international families purchasing property, investing in citizenship or residency abroad.
At Global Citizen Solutions we give the insight and data analysis to allow our clients to make investments with confidence.
It is absolutely worth buying real estate in Spain for several reasons. Not only can you get residency in one of the best countries in Europe with an outstanding quality of life and affordable costs of living, but you can also obtain a Spanish passport as well as enjoy high returns on investment if you are looking to rent your property.
It is absolutely worth buying real estate in Spain for foreigners. Buying property in Spain can provide for high investment returns, and allow investors to get residency in one of the best countries in Europe.
Depending on the type of lifestyle you are looking for, some of the best places to invest in real estate in Spain are Barcelona, Malaga, Madrid, Valencia, and the Balearic islands.
Thanks to the Spain Golden Visa program, you can get residency in Spain provided that you have purchased a property of a minimum value of €500,000. Eventually, you can also obtain a Spanish passport.
If you are wondering whether you should buy property in Spain, now is the right time to do it as Spain’s real estate prices are actually going down. Buying property in Spain gives residency to a country with a high quality of life, as well as high property investment returns.
