Spain is characterized as one of the countries where foreigners invest the most in properties due to the good climate, the excellent food and the affordable prices.
If we do a study on the best areas of Spain to acquire a property, we can highlight large cities such as Madrid and Barcelona and the Costa areas such as the Mediterranean area, the Costa del Sol, the Canary Islands and the Balearic Islands. Currently, in the coastal area you can buy residential properties starting as low as 30,000 euros. Also, it is worth mentioning the areas on the coast where it is not a good idea to invest in property, such as: Almería, Huelva, Castellón and Tarragona. But let’s focus on the 5 best Spanish cities in which to acquire a property:
Alicante is the city preferred by foreigners to buy housing, where 40.51% of the purchases are. And it does not surprise us that in the whole province of Alicante you can enjoy about 330 sunny days a year. In summer it is not too hot and in winter it is not too cold. In addition, even if it is a coastal city, the prices are not high, so it makes it one of the best cities if you are thinking of buying a property in Spain. For example, if you want a fully renovated apartment, not too big and 100 meters from the sea in coastal towns such as Villajoyosa you can find one for €115,000.
On the Costa del Sol the climate is also very pleasant and similar to that of the province of Alicante. In this area there has been strong economic and demographic growth making it an ideal time to acquire a property in this area. Also, if you are British the currency exchange will only benefit you. You can have a dream house next to the beach for half of what you would pay in the UK. In Marbella, you can find an apartment of of 100m2 facing the sea for €153,000.
Acquiring a property in the city of Tenerife only has advantages: subtropical climate, beaches and lower prices than in the Peninsula. The area of Playa de las Américas is a good place to buy. Here you can get an apartment of about 60m2 completely renovated and with sea views for €120,000. It should be noted that in Tenerife the purchase transactions are different from those of the Peninsula, so if you decide to buy here, inform yourself well.
The Madrid district that stands out in terms of number of purchases is the center with 17%, followed by Salamanca with 11%. Madrid is always a good bet and whoever has a house in Madrid has a treasure. In the center of the capital, in Ambassadors specifically, we can buy an 53m2 apartment for € 124,000. If we go to the Salamanca district the price goes up, but with it also the luxury. In this wealthy neighborhood we can buy a two-bedroom 143m2 apartment with a garage for €800,000.
The most in-demand district in Barcelona is L’Eixample (34%), followed by Ciutat Vella with 16%. In Barcelona we can buy a 3-room apartment with 53m2 for only €78,000.
In summary, properties that are acquired in any of these 5 Spanish cities will probably increase in value over upcoming years and finding renters is never difficult in these large cities.