Apartments in Spain for sale. Prospects for the Spanish market
Beautiful Spain is good at any time of the year. Summer means sun, sea, beach holidays, surfing and diving. Warm winter is a perfect time to travel and get acquainted with history and culture, while autumn and spring for long walks and admiring the fabulous nature. And all year round you will enjoy a high quality of life in a developed European country. All this makes it nearly impossible not to think about moving to Spain for permanent residence. Therefore, interest in apartments to buy in Spain is constantly high.
In general, the Spanish real estate market is quite developed and is characterized by the absence of significant fluctuations in one direction or another, despite the past pandemic, political and economic global instability: according to various sources, in 2022 the prices increased by 5-7%. Experts believe that this trend will continue in 2023. According to the Deloitte real estate index, today the average price of 1 sq. m. m of Spanish apartments ranges from € 1980 to € 3130. For comparison, in Italy the price of 1 sq. m of apartments in a major city is € 3,592, in the provinces – € 2,200.
Apartments or flats in Spain are in high demand because for many visitors this is a familiar type of housing. The buyer has a wide choice regarding the location of housing and the type of apartments in Spain for sale. Those who want to get to know the real Spain should pay attention to the old housing stock, where traditions are carefully preserved and you can see building elements dating back to past centuries.
But, given that today housing construction is developing rapidly here, and the property market is rich in offers of new apartments in Spain, the overwhelming majority of buyers choose new apartments. Their advantage also lies in the fact that there is high demand for new housing in the rental property market. Such apartments are easy to rent out and subsequently receive a stable income. According to statistics, today the prices per 1 sq. m and rental prices for new apartments in major cities of the country are the following:
|City||Price per 1 sq.m, €||Rent rate for three-bedroom apartment, €|
Apartments in Spain – variety and comfort
Spanish apartments are amazing with their diversity. You have a limited budget, but really want to buy apartments in Spain? Your dream can come true if you choose a small studio in a small town. The studio offers a spacious room that combines a living room, bedroom and kitchen. However, you will definitely have a separate bathroom, possibly a balcony or terrace. And if the studio is on the ground floor, then there is a veranda with a place to relax. The studio has kitchen furniture, appliances, and built-in wardrobes. And the price for it can be more than affordable, depending on its location.
Other apartments for sale in Spain have many different amenities: the number of bedrooms and bathrooms can vary from one to six or seven. Most bedrooms are equipped with built-in wardrobes, and bathrooms are equipped with the necessary accessories. Each flat has a kitchen with furniture and appliances such as refrigerator, stove, hood, dishwasher and microwave. Many apartments have balconies and terraces, and when choosing, it is very important to pay attention to where the windows of the apartment face. After all, beautiful views are very important for residents.
If you purchase real estate in an old building, then perhaps there will be a patio on the territory - a courtyard with flower beds and seating areas, where you can spend time with children in the shade or communicate with neighbors. By purchasing apartments in Spain in a new residential complex, you, along with comfortable housing, will have the opportunity to use various public amenities. These are swimming pools, sports and children's playgrounds, gyms, green areas, etc.
New apartments in Spain for sale are distinguished by the quality of their construction using modern building materials and the latest technologies. They are equipped with smart home systems and advanced security systems. And if you are a fan of luxury, then you can choose, for example, the best penthouses - apartments in Spain, located on the upper floors of residential buildings, where everything is done to ensure high quality comfort, including indoor swimming pools, gyms and fireplace rooms, saunas and solariums.
How to choose apartments to buy in Spain: recommendations
In every region there are apartments to buy in Spain. And to choose the location of future housing correctly is not an easy task. Each province has its own advantages, and each Spanish city is full of interesting locations and attractive features. Taking into account your preferences, you can purchase an apartment in a major city, where you can lead an active lifestyle, enjoy architecture and visits to museums and theaters. And the developed infrastructure will allow you to appreciate all the achievements of modern urbanism.
Comparing prices for apartments in the capitals of Spain and neighboring Portugal, we can state that with an average monthly net salary after taxes, which is € 2,474 in Madrid and € 1,155 in Lisbon, the prices per 1 sq.m. when purchasing an apartment are as follows:
|Downtown||€ 4226||€ 5797|
|Not in downtown||€ 2632||€ 3096|
Having bought an apartment on the sea coast, you will have excellent opportunities to spend time on the beach, practice your favorite sports, relax, and admire the incredible sea and mountain landscapes. The many golf courses equipped in resort towns will not leave you indifferent, and even if you have never played this sport before, you will certainly pick up a club and ball. On the other hand, the rural hinterland will fill your life with new impressions of holidays and festivals, delicious organic food, comfort and peace.
Most often, foreign citizens choose to buy apartments for sale in Spain in the following provinces:
- Alicante (Costa Blanca);
- Balearic Islands;
- Murcia (Costa Cálida).
Prices for apartments vary greatly depending on location, quality, area, and availability of amenities.
|Location of the apartments||Characteristics||Price, €|
|Madrid||2 bedrooms, area 77 sq. m||168,000|
|Madrid||6 bedrooms, area 565 sq. m||5,280,000|
|Barcelona||studio area 44 sq. m||145,000|
|Barcelona||2 bedrooms, area 62 sq. m||192,000|
|Alicante||1 bedroom, area 67 sq. m||88,000|
How to buy an apartment in Spain
Today, flats for sale in Spain are sold very actively, and you can find suitable apartments using various information sources including Internet resources, advertising publications, and information from friends. After selecting a property, you need to perform a number of operations:
- obtain a foreigner identification number;
- open an account in a Spanish bank;
- check the legal side of the selected property - absence of debts, ownership;
- make a reservation of the property and pay a deposit amounting to about 10% of the cadastral value of the property;
- pay the full cost of the property;
- conclude a purchase and sale agreement;
- accept ownership of the property.
All these actions are generally not very burdensome, since Spanish legislation has simplified the purchase procedure as much as possible in order to attract a large number of investors from around the world. However, potential buyers may feel insecure due to not knowing the language and the intricacies of the real estate market.
Therefore, in Spain there are professional real estate agents who provide assistance in carrying out such transactions. These specialists include employees of the WTG Spain group of companies. With their assistance, you can be sure that the purchase will be carried out in the best way and your new apartment will live up to your wildest dreams.