Property in Spain – Spain-Real.Estate

Property prices in Spain

The cost of property for sale in Spain can depend on various factors. The main ones are:

• Region and district. Prices can vary greatly depending on the location of the property. For example, real estate in Barcelona and the Costa Brava tends to be more expensive than in other regions. However, more affordable housing can be found on the Costa Blanca.
• Proximity to the beach. This is another important parameter when calculating the cost of housing. Real estate in Spain for investment and living directly by the beach or a property with stunning picturesque sea views costs more.
• Infrastructure. Shops, restaurants, good transport accessibility and other social facilities increase the cost of housing.
• Year of construction and condition of the building. Old properties are valued lower than new ones, especially if they require any renovations.
• Type of property. Prices also vary depending on the type of housing, be it an apartment, house or villa in Spain.
• Household equipment. Furniture, plumbing, and electrical appliances also affects the cost.

From year to year, the largest number of sales is recorded in Tenerife, Mallorca, Malaga, Benidorm, as well as in the resorts of Ibiza, Costa del Sol, Torrevieja, Marbella and Alicante.

According to the latest published data, in October 2023 the average purchase and sale price of a home was €2,159 per m². The average property price thus increased by 6.6% compared to last year. At the moment, an apartment in Spain with an area of 80 m² will cost approximately €172,720, while last year it cost around €161,320.

In October 2023, the most expensive communities by average housing price were:

• Balearic Islands – €3,805 per m²;
• Madrid – €3,577 per m²;
• Basque Country – €3,038 per m².

It is also worth noting that when comparing prices with the same month in 2022, the largest increase in the average purchase price was recorded in the following communities:

• Canary Islands with an increase of 25.4% compared to last year;
• Balearic Islands with a growth rate of 18.3% compared to last year;
• Navarra with a growth rate of 12.4% compared to last year.

Destinations for purchasing housing with the lowest price at the moment are:

• Murcia region – €1,260 per m²;
• Extremadura – €1,207 per m²;
• Castile-La Mancha – €1,182 per m².

The most expensive province is the Balearic Islands, where a square meter costs €3,805, followed by Madrid (€3,577) and Gipuzkoa (€3,446). Provinces with prices below €1,000  per m² are Ciudad Real (€968) and Jaén (€999).

Investment real estate in Spain

Today, buying properties in Spain is not difficult for a foreigner. The country offers excellent opportunities for purchasing real estate both for seasonal holidays and for relocation. A house in Spain is a great option for investment. The high demand for real estate makes buying a residence potentially profitable, since the property can pay off within just a few years.

You can rent out your apartments for a long or short term to generate passive income. Long-term rentals provides stability through signed contracts, and you do not have to look for tenants. Short-term rentals usually have a high payback, especially in tourist regions. In Spain, the holiday season lasts from May to October, which makes housing rentals in demand.

You can also consider reselling your property. The growing Spanish market allows you to make a profit from the resale of housing.

Buying property in Spain

Spain-Real.Estate is your reliable partner for purchasing real estate for sale in Spain. We will help you find suitable options in any city or region of the country from trusted developers and estate agencies. With our search filters, you can sort property listings by price, square footage, location and other parameters. Start your search for your next home now with Spain-Real.Estate, and soon you will receive the keys to your dream home in Spain.