Spain is one of the most charming countries in the world. According to numerous tourist surveys, it’s the leader in the ranking of European countries - with a favourable climate and excellent living conditions. Many people worldwide move to this sunny country every year. Which places should you consider first if you want to buy a property in Spain? Based on data on the living standards, the cost and affordability of housing, we’ll tell you about the 5 most prestigious provinces in this country.
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Costa del Sol
The Costa del Sol, topping the list of the most popular places to stay in Spain, is located on the shores of the Mediterranean Sea, in the south of the country, where it’s warm and sunny all year round. The townhouses, villas and apartments on the Costa del Sol belong to the medium and high-price categories.
The exclusive residences on the Costa del Sol attract tourists and investors worldwide through the following advantages:
- Ecological conditions;
- A mild warm climate;
- A resort lifestyle;
- Developed infrastructure;
- High-quality service;
- Social events;
- Magnificent beaches;
- The Sierra Nevada Ski Resort;
- 16 golf courses;
- Comfortable conditions in the various residential complexes.
Stylish modern penthouses, private apartments in Spain and other luxury real estate can be purchased in Marbella, New Andalusia, the Golden Mile and Puerto Banus.
Marbella is the resort capital of the Costa del Sol, the so-called local Hollywood. The coastal region boasts many VIP properties, including the summer residence of the family of the Crown Prince of Saudi Arabia and the villa of Antonio Banderas. The cost of residential properties in Marbella starts at 500,000 €, and the price per square metre starts at 2,400 €. It’s difficult to set a price ceiling, as no one here is surprised when seeing a property for 10 or 20 million €.
The Golden Mile, stretching from Marbella to Estepona, with cities such as Fuengirola, Benalmádena, and Torremolinos, has high prices. A low-cost villa by local standards in these surroundings will cost at least 3-4 million €.
The Costa Blanca
The Costa Blanca ranks second on the list of the best places to live in Spain. This is the warmest Spanish coast with a wide selection of premium real estate. The luxury houses in Spain are located on the north coast: in Calpe, Denia and Moraira. The northern part of Costa Blanca, with its favourable climate, is a unique place with nature reserves, gardens and amusement parks. Luxury villas can be purchased here for 1.5 million €.
Buying a house on the Costa Blanca is a profitable investment. Due to the average price of 1,600 € per square metre, this area has great potential for renting out luxury resort housing.
Catalonia
Catalonia ranks third on the list of the best locations to live in Spain. The following places offer apartments and villas in Spain at the highest prices:
- The Costa Brava, located in the northeast of Catalonia, is one of the most exclusive regions for vacation and home buying in Spain. Since Costa Brava is forbidden to build high-rise buildings, the price of land here is 2.5 times more expensive than in other regions of Spain. The most expensive cities on the coast are s'Agaró and Playa de Aro, where the price of the cheapest real estate starts at 300,000 €, and the cost of a villa starts at 2 million €.
- Barcelona is one of the most popular and sought-after places to buy high-end real estate for family living and for earning an income from renting out or reselling housing. There are few affordable secondary real estate and new buildings in Barcelona, leading to a constant rise in prices. The average price per square metre in Barcelona is 4,000 €. The cost of renting an apartment in the city starts at 1,000 € per month.
The Balearic Islands
The Balearic Islands (Menorca, Majorca and Ibiza) rank fourth in the ranking of the most prestigious provinces in Spain and has the same tariff policy as the Costa del Sol. Special attention should be paid to real estate for family holidays or permanent residences with children, as many noisy entertainment venues may be nearby. However, these locations will be an additional bonus when renting out such a property. Majorca and Ibiza are the most popular destinations for buying real estate in the Balearic Islands.
Majorca is one of the most visited Spanish resorts. The island is extremely popular with German citizens who spend their holidays here and buy local real estate. Due to the limited number of building plots, prices per square metre of real estate in Majorca start at 3,500 €.
Ibiza is well-known for its vibrant nightlife, club industry and DJs. However, in addition to party lovers, the island also attracts wealthy European buyers who purchase real estate in the exquisite gated communities with sea views for 3,500 € per square metre.
The Canary Islands
The Canary Islands completes the rating of the 5 most prestigious Spanish provinces. They are located in the Atlantic Ocean, 1,000 km away from continental Spain.
The most famous and recognised Canary island of Tenerife, like other islands of the archipelago, is volcanic. The heart of the archipelago is its highest peak, the Teide volcano, surrounded by a natural park of the same name. The average price of real estate in the Canary Islands is about 2,500 € per square metre.
When choosing the best area to live in Spain, you must determine what’s most important to you. When choosing a region, you should pay attention to many criteria, such as the purpose of buying a property (a summer residence, investment in real estate in Spain, a place for children to study, a holiday apartment, etc.), the climatic conditions, the nearby infrastructure and the prices in the region. This way you can eliminate the unsuitable options and competently approach the search for the location of your dreams.
