Property in Spain

Property prices in Spain

Property prices in Spain also increased significantly last year from € 1,586 to € 1,720 per square meter, an increase of 8%. The constant growth of property prices in Spain is mainly due to the high demand from foreign buyers. This is due to the large flow of tourists who want to buy a property in Spain after spending their holidays here. In 2018, Spain received more than 90 million foreigners, and it has placed first in the world ranking of tourist popularity, ahead of France (2nd place) and the United States.

Where to buy a house in Spain

As regards regions, foreign residents prefer to buy property in Spain in the Costa Blanca area. Torrevieja, Benidorm and its surroundings, besides Alicante, are the most demanded destinations among foreign buyers. Europeans and Americans usually choose to buy a property in Spain, areas near golf courses, and areas with a strong presence of English speakers. With regard to large property investments in Spain, the largest influx is in Barcelona and its suburbs, as well as in Madrid. This is explained by the fact that these cities are the most important commercial and administrative centers of Spain. The Costa Blanca area is often chosen to invest in property in Spain for rent. The property prices in Spain, in this region, are on average 2 (in some cases 3 or 4) times lower than in Madrid and Barcelona.

Buy a property in Spain: 5 reasons

Buying a property in Spain is not just an opportunity for foreign investors, particularly citizens of the CIS countries, to increase their capital. What else encourages foreigners to buy a property in Spain? Below, we detail the main reasons for the purchase property in Spain by foreigners. The first reason to buy a house in Spain is the price. Foreigners are attracted by the quality / price ratio in the property market in Spain: the property price in Spain is € 1,600 on average. In contrast, in Moscow this figure is € 2,250, and in London € 4,686. The second reason to buy a house in Spain is the possibility of receiving stable rental income. With an adequate investment in property in Spain, the potential of your renting may be very high. In the southern regions, the high rental demand is maintained throughout the year. In the northeastern zone, in the summer months, the rental prices are as high as possible, which allows the owners to recover all the maintenance expenses of the property in Spain during the year, and thus obtain profits. Another reason to buy a home in Spain is the constant price increase. Despite the fact that property prices in Spain have not yet reached the level of before the crisis, the growth rate is 3-8% per annum, according to sources in the real estate sector. The favorable Mediterranean weather is another reason to buy a house in Spain. Regarding the Costa Blanca, Torrevieja stands out for its salt lakes, which create a special microclimate, favorable for people suffering from respiratory diseases. In general, homeowners on the Costa Blanca in Spain, can enjoy 320 days of sunshine per year. Gastronomy and quality of life is one of the most frequent reasons to buy a house in Spain for foreigners. The Mediterranean diet is very healthy and stands out for its diversity. The possibility of enjoying ripe fruits and vegetables throughout the year is one of the most appreciated benefits by residents of northern countries. In summary, food, climate, high level of services and education allow you to enjoy life, and motivate foreign citizens to buy a property in Spain.