Real Estate in Spain: Is It a Good Investment?

Before summer rolls around, you start thinking about potential vacation destinations—Florida, the Ozarks, California, to name a few. But you might be looking for a new experience somewhere else.

If you didn’t know, some holiday goers love vacationing in Spain because of its beautiful beaches, warm climate, and extensive culture. But rather than book a hotel for their entire stay, some individuals buy properties instead.

It may not have been something you’ve thought about before, but it can be rewarding. We’ll break down real estate in Spain and different locations that might be suitable for you and your family.

How Can You Buy Real Estate in Spain?

Buying property in Spain is a simple enough process for foreigners. Your main aim at the beginning—like any home-buying process—is to find an ideal place to live.

It might come as a challenge because Spain has many beautiful areas you could live in. After finding an appropriate location, here are some other procedures you’ll have to follow:

· Hire a lawyer to help you with your process

· Make an offer to the seller

· Sign a preliminary contract

· Pay 10% of the deposit price

· Sign contract of sale

· Register your property with the local authorities

Once these steps get taken care of, you’ll get the keys to your new vacation home! However, there are other Spanish investment laws, such as the Golden Visa.

It allows you to get Spanish residency in exchange for buying a property worth €500,000 ($560,000). But you’ll need to do the relevant research on subjects like property taxes and estate agents beforehand to be better prepared.

Different Vacation Locations

As we mentioned above, one of the first things you’ll need to do is find a spot for your Spanish vacation home. But where should you choose?

Well, it depends on the experience you want to have. Here are a few locations you could consider:

Madrid

Madrid is the capital of Spain and has a beautiful buzz surrounding it. Beautiful museums, restaurants, and parks offer an excellent opportunity for a family to experience the hustle and bustle of a European city.

If you’re looking for a beach, the nearest one is in Valencia, which is less than two hours away. However, because it’s a capital city, real estate prices will be higher than average.

Valencia

The third-largest city in Spain, Valencia, offers a mild climate and a more relaxed environment than Madrid or Barcelona. Since it’s close to the sea, you’ll have easy access to the beach whenever you want.

Valencia has vast green spaces you’re sure to love if you’re a nature enthusiast. The real estate market is also considerably cheaper than some other cities.

Marbella

Marbella is known as the best location in Spain for those who want to find a home. It has beautiful beaches, restaurants, and a rich history waiting to be explored.

Besides beaches, there are also family-oriented wildlife and theme parks, making it an excellent choice for the entire family.

Expand Your Horizons by Investing in Spanish Properties

Treat your household to a new vacation experience by looking at real estate in Spain. Not only will you enjoy a different culture, but you’ll also create memories that will last a lifetime.

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