Where to Live and Buy Property in Spain?

Where to buy property in Spain is the second most popular question after “how much does it cost?”. 90% of non-residents choose the country’s resort regions. Only a small percentage buys property for permanent residence in central and northern Spain. That said, Spanish holiday homes are perfectly suitable for year-round living.

In this article, we cover the most popular regions for buying Spanish property - the eastern and southern coast from Catalonia to Gibraltar, plus the Balearic and Canary Islands.

1. Market Information and Selection Criteria

The Spanish housing market, like many others, was seriously affected by the COVID-19 pandemic. In the second half of 2020, the property sector resumed activity. The Murcia region already recorded transaction growth compared to 2019. Additionally, remote sales have been introduced for clients. Market experts forecast a temporary decline in Spanish property prices (until the epidemic ends). Now is a suitable time to take advantage and buy property below market value. Currently, the average price per square metre of housing in Spain is EUR 1,735.

Several key property selection criteria guide most buyers:

• climate (winter/summer seasons), length of high season, water temperature
• price per square metre
• transport accessibility (airports, flights)
• infrastructure - roads and their quality, shops/cafes/restaurants, medical centres, schools
• nationalities living in the region, expats - who they are, whether there are diaspora communities
• terrain (mountains, plains, mixed)
• attractions and cultural life - tourist sites, festivals, national holidays
• beach infrastructure - quality and size of beaches, sea access, water sports

The first four points are the most important when choosing a property purchase location. Let us examine the most popular regions in detail.

2. Catalonia

Catalonia has three main destinations for tourists and property buyers: Costa Brava, Barcelona with surroundings and Costa Dorada.

• Costa Brava

Spain’s northernmost coast (Costa Brava translates as “rugged coast”) is in Girona province, starting from the French border and stretching 162 kilometres. It is one of the most prestigious locations for holidays and property purchases. Nearest airports are in Girona (62 km) and Barcelona (104 km).

The climate is relatively mild: average daytime temperature +16 C, average July-August sea temperature +24 C. By local standards, this is Spain’s coolest resort. The scenic landscape combines impregnable northern cliffs, pine-topped bluffs and cosy coves. Southward, the terrain softens and beaches become sandy. Popular resorts: Platja d’Aro, S’Agaro, Lloret de Mar, Tossa de Mar, Empuriabrava.

According to Idealista (September 2020), the average price per square metre on the Costa Brava is EUR 2,030 (in popular resorts EUR 2,500). Advantages: moderate climate, scenic nature, two international airports, full modern infrastructure for holidays and permanent residence.

• Barcelona

Barcelona is one of Europe’s most popular and sought-after cities. Tourists come to see Antonio Gaudi’s architectural masterpieces, while investors hunt for the best properties. Major corporations - Facebook, Amazon, Nestle - have offices in Barcelona and surroundings. The Catalan capital is extremely attractive to immigrants with the dynamic pace of a European metropolis. It is a major educational centre with prestigious universities.

Barcelona sits on the coast but is also famous for “elevated” attractions on Tibidabo and Montserrat mountains. The city has several wide beaches. Average price per m2 in the province is EUR 2,600, in Barcelona itself up to EUR 4,000. Apartment rental from EUR 1,000 per month. Living costs exceed the national average: average expenses per person are EUR 685/month excluding rent.

Popular coastal resorts: Barcelona, Badalona, Gava Mar, Cabrils, Sant Andreu de Llavaneres. Luxury property is typically in gated complexes.

• Costa Dorada

The Costa Dorada coastline begins south of Barcelona and stretches 200 kilometres to the Valencian Community border. The “Golden Coast” is named for its golden sandy beaches. There are both long flat stretches and scenic coves and lagoons. Nearest airports are in Reus and Barcelona. Summer sea temperature approximately 26 C, air up to 30 C.

Popular resorts: Tarragona, Salou, Cambrils, La Pineda. Near Salou is PortAventura, one of Europe’s largest amusement parks.

Average price per square metre: EUR 1,322 (in seaside resorts approximately EUR 3,000). The coast suits both permanent residence and holidays. Most resorts have easy sea entry, with beaches suitable for children. Proximity to Barcelona is an additional advantage.

3. Valencia and Alicante

Crossing the Catalonia border, we enter the Valencian Community. The region divides into three provinces from north to south: Castellon, Valencia and Alicante.

• Costa del Azahar

The Costa del Azahar coastline runs along Castellon province. This is a developing coastal zone: previously attracting mainly Spaniards, but in recent years Castellon-La Plana Airport has begun receiving international flights. Thanks to its “unpopularity”, prices here are below the regional average (EUR 1,042/m2). Unlike Catalonia, Castellon has more development land and numerous listings.

The climate is ideal for year-round living: even on the hottest days, temperatures rarely exceed +30 C, and in January barely drop below +15 C. Popular resorts: Oropesa del Mar, Marina d’Or (one of Europe’s largest SPA resorts), Vinaros, Peniscola, Benicassim, Benicarlo.

Overall, the Costa del Azahar is one of the best places for property purchase by value for money. The coastline offers high-quality infrastructure, wide beaches and more space.

• Costa de Valencia

Costa de Valencia is the Valencia provincial coastline. The city is Spain’s third most populous (around 800,000). Many tourists visit to see the famous City of Arts and Sciences and the medieval Silk Exchange. The airport is in the city, but the most popular is in Alicante (83 km south). Beyond magnificent beaches and landmarks, Valencia hosts some of Spain’s finest universities.

Nature and landscape are diverse: fragrant citrus plantations and scenic hills. August sea temperature up to 27 C. Popular resorts: Valencia, Gandia, Oliva, Cullera, Mislata. Average price approximately EUR 1,200/m2.

Valencia is considered ideal for expats: not a huge metropolis, but sufficiently large and well-developed by European standards.

• Costa Blanca

Spain’s warmest coastline with affordable prices. Two popular cities: Torrevieja and Benidorm. Two airports in Alicante and Murcia. The northern Costa Blanca is hilly, the southern flatter, with pink salt lakes and numerous golf courses. Nature reserves, gardens and amusement parks are an excellent choice for families with children.

Even in winter, temperatures reach +17 C; the sea warms to +29 C in high season. Popular resorts: Torrevieja, Alicante, Calpe, Denia, Benidorm, Altea, Villajoyosa, Guardamar del Segura. Average price EUR 1,500/m2, making the Costa Blanca an excellent investment opportunity. The region shows high demand for seasonal rentals.

4. Andalusia

• Costa del Sol

The Costa del Sol has two airports in Malaga and Gibraltar. Holidays on this coast have their own specifics: due to Atlantic proximity, the water is cooler (typically no more than +23 C in summer), so tourists come less for beach holidays and more for excellent service.

It is no coincidence we mention Marbella - the local Hollywood, city of the rich and famous. The Saudi Prince’s summer residence is here, along with Antonio Banderas and others. Malaga is a business and educational centre. Estepona is Marbella’s rapidly developing neighbour.

Due to the cool sea, property with a pool is in heightened demand and costs 1.5 times more. The landscape is diverse: hills, valleys, untouched areas and wide beaches. Popular resorts: Estepona, Malaga, Marbella, Fuengirola, Benalmadena, Calahonda, Casares, Mijas, Nueva Andalucia, Golden Mile, Puerto Banus, San Pedro de Alcantara, Torremolinos.

Prices from EUR 2,000 per m2. Luxury property includes sea-view apartments and villas in gated complexes. The main advantage is unmatched service quality, arguably the best in all of Spain. Plus magnificent beaches, clean air and water, and first-class infrastructure.

5. Balearic Islands

The Balearic Islands are a Mediterranean archipelago: Mallorca, Menorca, Ibiza and Formentera. The most popular for buyers are Mallorca and Ibiza. Mallorca is one of Spain’s most visited resorts, especially among Germans. The island lies approximately 250 km east of Valencia; it has an airport. You can cross it by car in an hour.

On a relatively small area, there are mountain ranges, caves, cliffs and plains. Mallorca is considered a privileged location: Rafael Nadal, David Beckham, Tom Cruise and Paris Hilton own property here. New plots are limited, making prices among Spain’s highest (EUR 3,050/m2). Summer sea temperature up to +26 C. Popular resorts: Palma de Mallorca, Santa Ponsa, Andratx, Calvia, Sa Rapita, Llucmajor.

Ibiza is primarily known for club culture and nightlife. But beyond entertainment, the island is hugely popular among wealthy Europeans buying exclusive sea-view homes. Winter temperature +12 C, summer up to +30 C.

6. Canary Islands

The Canary Islands are located far from mainland Spain, in the Atlantic Ocean. Sea temperature is roughly constant year-round: +23-24 C. Airports exist on Gran Canaria, Tenerife, La Palma, El Hierro and Lanzarote.

Tenerife is the archipelago’s most famous island, the “island of eternal spring”. Like other islands, it has volcanic origins: at the centre stands the highest point Teide and the eponymous national park (UNESCO World Heritage Site since 2007). Here you can encounter endemic animals and unique plants. Popular resorts: Las Americas, Los Cristianos, Los Gigantes, Bahia del Duque. Average price EUR 1,810/m2.

7. Property Prices

For clarity, here is a comparative table of the most popular regions among foreigners:

8. Conclusion

The key advice for property seekers is to define your main criteria. Understanding your priorities will help eliminate unnecessary options and approach your search consciously.

Selection criteria are numerous: purpose (summer residence, investment, children’s education, rental income, etc.), climate, surrounding infrastructure and much more. It is difficult for newcomers to navigate everything at once, so it is best to rely on facts and trust professionals. We have experience selling property for any purpose across various regions of the country. VirtoProperty specialists are ready to consider all the buyer’s wishes and help make the right choice!