This will become your starting point of departure, which will guide you and allow you not to regret your investment.
Where is the most expensive property in Spain?
Among the provincial capitals, the leaders are the following (averages over the last 10 months for new real estate):
- San Sebastian – 4.231 € / m2
- Barcelona – 3.651 € / m2
- Bilbao – 2.960 € / m2
- Madrid – 2.782 / m2
Where is the greatest demand for real estate in Spain?
In the autonomous regions, Andalusia (21.543) and Catalunya (20.071) are fighting for the championship. Next, come the Autonomous Communities of Valencia (17.467) and Madrid (16.856).
Where do foreigners prefer to buy property in Spain?
The demand for real estate in Spain among foreigners continues to grow: in 2016, sales increased by 19.1%. Most bought in Alicante (4.762), Malaga (2.720), Barcelona (1.776), Santa Cruz de Tenerife (1.407), the Balearic Islands (1.400), and Madrid (1.397).
MADRID
The city is beautiful, the capital of the Kingdom, the main business and economic life of Spain flow here. There are world-famous treasures of cultural and artistic heritage (the most famous are the Prado National Museum and the Reina Sofia Museum), many parks and squares. But, as you noticed earlier in the figures, this city is not very popular when buying real estate among tourists due to its main drawback – distance from the sea, the nearest coast is 250 km away. Besides, the summer is very hot here, about + 40 ° C and higher.
It is mainly Spanish and foreigners who buy real estate here, who want to settle, open their own business or just invest in real estate.
On average, you can find options for apartments for € 2600-2700 / sq.m, but the choice of the area is of great importance, in the most prestigious ones the cost exceeds € 4000 / sq.m. When it comes to subsequent rental, your investment will pay off. A large number of students come to Madrid to study and, as in many large cities in Spain, they have been renting for many years, since the purchase prices are very high compared to other regions.
The best areas of Madrid:
- Salamanca 4.321 € / m2
- Chamberí 4.122 € / m2
- Chamartín 4.042 € / m2
- Center 4.042 € / m2
- Retiro 3.499 € / m2
BARCELONA
It is the Catalan capital on the Mediterranean coast. In total, about 2.6 million people live (for comparison, the capital of Madrid is 3.1 million people). Every year, about 8.5 million tourists come to admire this beautiful city. Barcelona has its charm that captivates its residents. The climate here is mild and not as hot compared to the southern and central provinces of Spain.
In addition to the inviting sea in Barcelona, Catalonia is famous for its beautiful mountain ranges and ski resorts are located nearby. Therefore, tourists come here throughout the year.
Besides, this city is also called a student city. Some of the best and most prestigious universities in Spain, including international ones, open their doors to a huge number of young people every year. All this undoubtedly is a guarantee that buying real estate for rent will be liquid, and if you manage to buy real estate in Barcelona now (at the beginning of the rise in prices), then in 7-10 years the resale will bring you substantial profits.
Rental housing in Spain: how to find accommodation
There are many ways to find suitable rental housing in Spain, each with its pros and cons.
- Real estate agency
The easiest and at the same time expensive way. Agencies can help you find a landlord and a suitable apartment for a fee equal to your monthly rent. It is recommended to resort to the services of agencies only in case of emergency and lack of time.
- Accommodation search services
Specialized services are cheaper (from 60 to 120 euros), but judging by the reviews, they do not work very well, and the search may be delayed, or you will not be offered the best option.
- Ads
Perhaps the most popular way. Hundreds of offers are published daily in newspapers and portals dedicated to renting real estate. The problem is that the best of them fly like hotcakes, so you have to hurry up to be the first in line to watch. It is best to buy a newspaper or go to the site early in the morning, and immediately start calling the owners of the apartments you like. If nothing was found in the morning, you can watch the latest ads in the evening. At this time, you can agree to view the apartment the next day and be the first in line.
Popular sites on which advertisements for renting housing are published:
Do not be surprised, but the Spaniards themselves recommend this very exotic method. You just walk around the area where you would like to rent an apartment, and carefully look at the windows of houses and notice boards. Often, apartment owners do not advertise in newspapers and do not register in databases, limiting themselves to a modest announcement “For rent” (“Se alquila”) on the windows. This way of searching also allows you to get to know the city better and get an idea of all aspects of life in the area of your choice.