Spain has been a popular destination for Brits looking to relocate for years. It offers a laid-back lifestyle, hours of sun and has almost 5000 miles of coastline.
In this article, we’ll take a look at the currency market for those looking to buy property in Spain, then take a deep dive into five popular areas for international property buyers.
The current Spanish property market
The Spanish property market has high hopes for 2023 and beyond. In fact, financial services company ING predicts that the Spanish economy is “likely to outperform other Eurozone countries in 2023”, adding to the country’s investor appeal.
Currently, the average home price in Spain is €1793.20 per/sq. metre. (Ministerio de Fomento, November 2023). While this is higher than in recent years, the price remains considerably lower than the peak house price which soared in 2008 following the global financial crash.
Residential property prices have fallen considerably since quarter 2 of 2022, when rates hit 8.53, whereas the current rate is 3.71 (Bank for International Settlements, November 2023).
Where to buy?
There are a range of desirable locations across Spain. Here well look at five areas and who/what they offer for anyone buying property in Spain. Hopefully, this will help you pinpoint your search.
Barcelona, for digital nomads
Barcelona has become a popular destination for young people moving abroad, particularly those looking to immerse themselves in a culturally rich and dynamic city.
One of the main attractions for these individuals is the city’s thriving digital nomad community, supported by numerous coworking spaces, networking events, and a progressive digital nomad scheme that offers various benefits and incentives.
Madrid for city dwellers
Madrid is the bustling capital of Spain and offers an exhilarating take on a European capital city. Its urban environment is anchored by a vibrant nightlife scene, impressive shopping districts and historical museums. Madrid provides international property buyers with a unique blend of old-world charm and modern-day flair. It’s well connected to popular areas across Spain and its excellent public transport system makes it ideal for those who don’t drive.
Valencia for romantics
Valencia is Spain’s third-largest city and is steeped in history and charm. Valencia has an air of mystery about it due to its winding streets, cobblestone floors, lush gardens and impressive architecture. If you’re interested in buying property in Spain with a village-style community and old-town feel, Valencia is a wonderful place to settle down.
Malaga for beach lovers
The coastal city of Malaga lies on the south coast of Spain and is a paradise for beach lovers from all over the world. There’s a variety of property styles available in Malaga too, from small apartments with sea views to grand villas with room for all the family. Malaga offers a great place for those buying a property in Spain to soak up the sun, surf, or simply unwind. It’s known for its eccentric nightlife, deliciously fresh seafood and a welcoming atmosphere that makes it feel like home immediately.
Seville for history buffs
Seville is the capital city of Andalucia. The city is an absolute treasure trove for anyone wishing to explore the rich history of Spain’s past. Seville would be a wonderful destination for those buying a property in Spain to use as a second or holiday home where they can explore the local culture when they’re there. You can easily explore the city on foot and embark upon a wondrous journey through the city’s winding streets and traditional neighbourhoods.
Browse homes in Seville today
Written by Your Overseas Home for Green-Acres.