Spain’s property market was famously hit very hard during the last financial crash and this has led to a number of years of trepidation for investors in putting money into property in the country. However, many of these worries are now a thing of the past and Spain now harbours some of the most popular places for buyers from the UK.
Whether you are interested in buying a second home in the sunshine or you are relocating to Spain, here are some of the best places you can buy property in 2019.
Spain’s capital is sometimes overshadowed by Barcelona when foreign buyers consider purchasing in a large Spanish city. But in 2019, this really isn’t somewhere that you should overlook. Madrid is a bustling metropolis with fantastic opportunities for those looking to relocate to work in the country. However, it is also growing as a tourist destination and there is increasing demand for rental properties in the city.
One the major advantages of Madrid is that is so central. This means that it can be used as base year-round to explore the rest of Spain. Flights in and out are also cheap and plentiful. Additionally, this is a city of fantastic architecture and myriad cultural attractions – the standard of living here is extremely high. If you are coming to Spain to work, there are few better options to relocate to than here.
Of course, in a city the size of Madrid, the property prices can vary drastically. Prime real estate can fetch around €7,416 per square metre while other areas are significantly more affordable.
Two-bedroom apartment price range: €350,000 – €2,000,000
Average cost of property in Madrid: €2,601 per square metre
In a recent report, it’s clear that since the Spanish property market crashed, Marbella has been one of the most resilient areas. It has remained enormously popular showing that there is a real appetite for holiday homes and residential properties in the area. It’s not hard to understand why – sitting on the Costa del Sol, this seaside town is renowned for attracting the rich and famous.
Properties are necessarily as expensive as you might imagine, however, you only need to go a few roads inland from the pricey Golden Mile (where you would struggle find an apartment for less than €300,000) to find some real bargains. And in fact, heading just a little way away from the coast can offer truly affordable properties within easy reach of the centre of town.
For those relocating from the UK it is also nice to know that there is a large ex-pat community with everything from young families to retirees choosing to relocate to the area. So, whether you are looking for a holiday rental, a retirement property or simply a relocation to the sun-soaked southern coast, this is a great choice.
Two-bedroom apartment price range: €250,000 – €3,000,000+
Average cost of property in Marbella: €2,766 per square metre
Perhaps Spain’s most prestigious destination, Barcelona is the best of all worlds for many people. It is a large and thriving city with excellent transport links, a vibrant nightlife and a buoyant jobs market. And yet this is also a true tourist hotspot, a city by the beach with inspiring architecture, a range of museums and galleries, and a wide variety of other things to see and do.
The cost of living here is often higher than much of the rest of Spain, and properties may not come cheap by Spanish standards. But when you compare prices to British equivalents, homes here actually become quite affordable. For example, a one-bedroom apartment in Barcelona might cost around £285,000, whereas a similar property in London would go for £450,000.
Barcelona, then, can make a wonderful choice both as a new home for you and your family, and as a location for holiday home.
Two-bedroom apartment price range: €250,000 – €2,500,000
Average cost of property in Barcelona: €3,129 per square metre
Another great choice for buying a Spanish property is on the Costa Brava. Found on the northeast of Spain, the gorgeous coastline is more rough and rugged than the Costa del Sol, but this only enhances its beauty, and makes it a very attractive for holidaymakers. Hit heavily during the recession, the Costa Brava has low property prices which means that you can afford to buy truly stunning homes here – even in 2019.
Investors are once again becoming interested in the area, so now could be the perfect opportunity to buy a property here to serve either as a retirement investment, or as a great to relocate and raise a family. There are some truly fantastic towns on this coast from the charming Calella de Palafrugell to the lively Cadaques – so there is something for everyone.
Two-bedroom apartment price range: €250,000 – €400,000 Average cost of property in Costa Brava: €1,793 per square metre