Guide to buying property in Spain as a foreigner

Spain is one of the 28 countries that make up the European Union, and one of the 19 that make up the Eurozone. With a territory covering 505,370 square kilometers, Spain is the fourth largest country on the European continent as well as one of the most mountainous, with a median altitude of 650 meters above sea level. The country is divided into the Spanish mainland, the Balearic Islands (in the Mediterranean Sea), the Canary Islands (in the Atlantic Ocean), and Ceuta and Melilla (in northern Africa). The territory is organized into a total of 17 autonomous communities, 50 provinces, two autonomous cities (Ceuta and Melilla), and contains a total population of almost 46.5 million inhabitants, according to the 2016 census.

To the outside world, the two most attractive features of Spain are its beaches and the amount of sun it receives each year. The country has more than 4,900 kilometers of coastline, more than 2,500 hours of sun each year, and a mild climate for most of the year. The only places in Spain to experience less than 2,000 hours of sun each year - as well as greater rainfall than the rest of the country - are the Cantabrian coast and the mountainous regions. After France and the US, Spain is the third most visited country in the world, having received 75.6 million tourists in 2016, according to data from the World Tourism Organization. Tourism constitutes an important part of the Spanish GDP (16%) as well as of the construction industry (5.6%).

Hot cities in Spain

Barcelona

Barcelona is an ideal city to invest to. As the Spanish real estate market shows excellent potential for profitability, investors are attracted to Barcelona’s low interest rates and solid economy. New homes are the most popular investment and are expected to continue to represent at least 50% of the transactions in the first quarter of 2018. Invest in Barcelona real estate

Málaga

When buying a house in Málaga, you can choose between fabulous villas on the coast, beachfront apartments or older apartments 'isn the old town. It's a good time to buy property in Spain. After the real estate crisis prices fell enormously and are just now beginning to rise again, thus offering interesting investment opportunities - use them to get your return on investment asap. How to buy in Málaga

Alicante

Alicante is a Mediterranean city that offers a magnificent quality of life due to its warm and sunny climate, its affordable prices, its gastronomy, and its network of shops. With both a port and a beach, it is a very attractive destination for foreigners and investors looking for good buying opportunities. Alicante is currently the fourth most profitable city in Spain. How to buy in Alicante

The Capital of Spain

When talking about Spain we mostly think about Barcelona, Marbella or Alicante as the hottest tourist destinations. However there are more locations worth while considering for relocation or property purchase, like Madrid. Madrid is located in the heart of Spain with no direct access to the sea, however it has a lot to offer both to tourists and working expats. Madrid is the eighth financial center of Europe (after London, Frankfurt, Luxembourg, Paris, Hamburg, Dublin and Munich). And they say there is a possibility to make it the main European Financial Center after Brexit. Also Madrid is cheaper than Barcelona, San Sebastián and Vitoria and has real gems both in living and real estate. Consumer prices in Madrid are 3,33% lower than in Barcelona, and there are 17 Michelin starred restaurants in Madrid in 2018. As for property purchase opportunities in Madrid, we would recommended to take a look at newly constructed houses (new constructions have ~28% increase in recent years) - it’s getting really affordable to buy a house in Madrid.

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Frequently asked questions about property purchase in Spain

Get help by a local agency

Oriol Canal

Director General of the Metropolitan Market Center of Engel & Völkers, Barcelona. Barcelona is a very safe city, with a mild and pleasant climate. It is a pioneer in education and healthcare. It has a top-notch healthcare system. Even royal family is using public healthcare, e.g. his Majesty the King Juan Carlos I has visited a public hospital for surgery.

José Luis Pérez Cremades

Director General of real estate consulting company Gilmar Plaza del Sol, Calle Higueras, Calle Mayor, Plaza de Oriente, Gran Vía: these are parts of the city with high demand from foreign investors. A new, very popular zone is La Finca, which has the best security in all of Europe. Many artists, such as Alejandro Sanz, live there.

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