Discover the Best Places to Buy Property in Spain!
Spain has always been a desirable place for property investment with its popularity only growing in 2024 and beyond. With 760 official cities in 50 provinces, it may be hard to choose where you'd like to live in Spain, which is where we come in!
In this blog, we've laid out our top 5 locations to live in Spain, as well as providing you with the key information you need to help you locate your dream Spanish home.
Whether you're looking for a bustling urban experience, a serene coastal retreat, or a quaint countryside escape, Spain offers a variety of appealing locations for prospective buyers.
Here's a detailed look at some of the best places to buy property in Spain and the reasons why they are so popular!
Table of contents:
Madrid: The Heart of Spain
Madrid, Spain's capital city, remains a top choice for property investment due to its dynamic economy, excellent infrastructure, and vibrant cultural scene. The city's real estate market remains robust, driven by several key factors:
- Madrid's strategic position as Spain's capital ensures ongoing economic growth, with thriving industry sectors such as finance, technology, and tourism bolstering the market.
- The city's neighbourhoods cater to a wide range of preferences and budgets, from the luxury apartments in Salamanca to more affordable options in Arganzuela and the suburbs, providing opportunities for all types of investors.
- Infrastructure improvements have been made such as enhanced public transport and urban development projects that continue to increase property values.
Known for its historic landmarks, world-class museums, and bustling nightlife, Madrid offers a blend of traditional charm and modernity.
Neighbourhoods like Salamanca, Chamberi, and Chamartin are particularly attractive for their upscale living, excellent schools, and proximity to business districts in the city.
Average Property Prices in Madrid
As of 2024, the average property price in Madrid, Spain, varies significantly depending on the area and type of property. Generally, prices in the city centre and upscale districts are higher compared to the outskirts.
- City Centre (Centro District): €5,500 to €7,500 p/sqm
- Salamanca District: €6,000 to €9,000 p/sqm
- Chamartin District: €5,000 to €7,000 p/sqm
- Chamberi District: €5,500 to €7,500 p/sqm
- Retiro District: €5,000 to €7,000 p/sqm
- Arganzuela and Moncloa-Aravaca Districts: €3,500 to €5,000 p/sqm
- Outskirts and Suburbs: €2,500 to €4,000 p/sqm
These averages provide a general guide, but actual house prices in Madrid can vary based on specific property features, conditions, and exact location. For the most accurate and up-to-date information, consulting with local real estate agents or market reports is recommended.
Neighbourhoods in Madrid
City Centre (Centro District)
The Centro District in Madrid is the bustling heart of the city, known for its historic landmarks, brilliant nightlife, and, high property prices.
Salamanca District
The Salamanca District is an upscale neighbourhood renowned for its luxury shopping, elegant architecture, and prestigious real estate.
Chamartin District
Charmartin District is a well-connected, residential area famous for its business centres, upscale living, and the Santiago Bernabeu Stadium.
Retiro District
Retiro District is celebrated for its proximity to the iconic Retiro Park, offering a blend of serene green spaces and desirable residential properties.
Arganzuela and Mocloa-Aravaca Districts
Arganzuela and Moncloa-Aravaca Districts provide more affordable housing options with good transport links and a range of family-friendly amenities.
Outskirts and Suburbs
The outskirts and suburbs of Madrid offer lower property prices, more space, and a quieter lifestyle, ideal for families and those looking for more tranquillity.
Barcelona: The Cosmopolitan Hub
Barcelona, with its iconic architecture, Mediterranean beaches, and thriving tech scene, is another hotspot for property buyers. This is due to the following factors:
- Barcelona's diverse neighbourhoods cater to various preferences, from the bustling city centre with its iconic architecture and vibrant nightlife to the quieter more residential areas like Gracia and Sarria-Sant Gervasi.
- The city's Mediterranean climate, beautiful beaches, and rich cultural scene add to its appeal, making it a desirable place to live and work.
Average Property Prices in Barcelona
In 2024, the average property price in Barcelona, Spain, varies depending on the type of property and area of the city.
On average, the price per square metre for residential properties in Barcelona is around €4,200 to €5,000. However, this fluctuates, with some areas commanding higher prices:
- Eixample: €5,000 to €7,000 p/sqm
- Sarria-Sant Gervasi: €6,000 to €8,000 p/sqm
- Gracia: €4,500 to €6,000 p/sqm
- Ciutat Vella (Old Town): €4,000 to €5,500 p/sqm
- Poblenou: €4,000 to €5,500
- Barceloneta: €5,000 to €6,500
Make sure to use these average prices as a general guide, actual prices will vary depending on property features, condition and exact location.
Neighbourhoods in Barcelona
Eixample
Characterised by its distinctive grid-like layout and broad avenues, Eixample is one of Barcelona's most prestigious neighbourhoods. Known for its stunning modernist architecture, high-end boutiques and gourmet restaurants, this neighbourhood offers a blend of residential tranquillity and great urban life.
Sarra-Sant Gervasi
This neighbourhood has an air of exclusivity and sophistication. Renowned for its spacious homes, green spaces and prestigious international schools, this area attracts families and professionals seeking a peaceful, upscale environment. It is close to the city centre which also adds to its appeal.
Gracia
Known for its bohemian vibe, artistic community and vibrant street life, this lively neighbourhood, once a separate village, retains its distinct identity with narrow streets, busy squares like Placa del Sol, and an array of shops, cafes, and bars. Gracia has a diverse culture and events frequently happen which makes it popular with young professionals, artists and students.
Ciutat Vella (Old Town)
As the historic heart of Barcelona the 'Old Town' is home to many of the city's most iconic areas, including the Gothic Quarter. This neighbourhood is a maze of medieval streets, ancient buildings, and cultural treasures such as the Barcelona Cathedral and the Picasso Museum.
Poplenou
Once an industrial district, Poplenou has transformed into Barcelona's tech and innovation hub. The area is characterised by its modern developments, creative spaces, and the popular 22@ district. Its blend of old factory buildings and contemporary architecture creates a unique urban blend.
Barceloneta
Barceloneta, the city's traditional fishing quarter, offers a unique blend of coastal charm and urban convenience. This neighbourhood is most famous for its beaches, seafood and lively promenade. Barceloneta's vibrant atmosphere, coupled with its proximity to the city centre and cultural sites, makes it a dynamic and appealing area for residents and tourists alike.
For more of a deep dive into why people are moving to Barcelona, our recent blog will provide just that!
Mallorca: An Idyllic Island
Mallorca is the largest of Spain's Balearic Islands, offering a high quality of life, a stunning Mediterranean coastline picturesque beaches, and a vibrant cultural scene.
The reasons for its popularity with buyers include:
- Mallorca's scenic beauty and climate are complete with stunning views, beautiful beaches, mountains and countryside. Additionally, the island's weather makes it an ideal location to live all year round.
- The island's real estate market has remained resilient and attractive, with diverse options ranging from luxurious villas to traditional fincas, providing good investment potential.
- Mallorca has a great colourful culture, excellent dining and a laid-back lifestyle. It has well-developed infrastructure, including healthcare, education and transportation, making it an attractive place to buy property for holidays or to call home.
Average Property Prices in Mallorca
The average property prices in Mallorca in 2024 vary depending on the type of property and location. Prices will continue to fluctuate so use these below as a general guide and consult with a real estate agent to get a more accurate sense of the property market in Mallorca.
- Palma de Mallorca: €4,000 to €6,000 p/sqm
- Southwest Mallorca: €5,000 to €8,000 p/sqm
- Northwest Mallorca: €3,000 to €5,000 p/sqm
- Inland and Rural Areas: €2,000 to €3,500 p/sqm
Neighbourhoods in Mallorca
Palma de Mallorca
As the capital of the island, Palma de Mallorca blends historical charm with modern amenities. The city is most famous for its stunning gothic cathedral, bustling harbour, and lively cultural scene. Residents enjoy a cosmopolitan lifestyle with access to excellent shopping, dining, and entertainment options, along with gorgeous beaches.
Southwest Mallorca
This region is well known for its upscale residential areas, such as Andratx, Santa Ponsa, and Bendinat. It attracts those seeking luxury living, with exclusive villas, marinas, and golf courses. The area offers stunning coastal views, high-end amenities, and a relaxed yet sophisticated atmosphere.
Northeast Mallorca
Known for its picturesque landscapes and charming towns like Pollensa and Alcudia, the northeast offers a more tranquil lifestyle. It features beautiful beaches, historical sites, and a strong sense of community. This region is ideal for those looking for a blend of natural beauty and cultural heritage.
Inland and Rural Areas
The heart of Mallorca is characterised by its traditional villages, rolling countryside, and amazing views. Areas such as Inca and Binissalem offer a peaceful, authentic Mallorcan experience, with rustic fences, vineyards, and local markets. This region appeals to those seeking a serene, relaxed lifestyle away from the coastal bustle.
Seville: A Spanish Jewel
Seville, Spain, offers a vibrant lifestyle characterised by its rich cultural heritage, warm climate, and picturesque architecture. Known for its historic landmarks like the Seville Cathedral and the Alcazar, the city combines traditional Spanish charm with all the perks of modern living.
Three main factors have seen an increase in property purchases in the city of Seville:
- Seville is a city with amazing historical landmarks, lively festivals, and traditions, providing residents a fulfilling and engaging lifestyle.
- The city combines a lower cost of living with modern convenience, making it an attractive option for those seeking both affordability and quality of life.
- With its warm weather and picturesque landscapes, Seville provides a fantastic and appealing environment for those looking to enjoy a pleasant and scenic life.
Average Property Prices in Seville
Property prices in Seville in 2024 vary significantly across its neighbourhoods. The most significant difference is between the Sevilla Este and the Historic Centrem which has mostly to do with proximity to Seville's most popular locations.
Make sure to only use these averages as a general guide:
- Casco Antiguo (Historic Centre): €3,500 to €4,500 p/sqm
- Los Remedios: €3,000 to €4,000 p/sqm
- Nervion: €2,500 to €3,500 p/sqm
- Triana: €2,500 to €3,500 p/sqm
- La Macarena: €2,000 to €3,000 p/sqm
- Sevilla Este: €1,500 to €2,500 p/sqm
Neighbourhoods in Seville
Casco Aniguo (Historic Centre)
Casco Antiguo, Seville's historic centre, is the heart of the city's cultural and historical heritage. Home to iconic landmarks such as the Seville Cathedral, the Giralda, and the Alcazar, this neighbourhood is made up of narrow, cobblestone streets, charming plazas, and vibrant tapas bars. This area is perfect for those who appreciate history, architecture, and a lively atmosphere, though property prices tend to be higher due to its prime location.
Los Remedios
Los Remedios is a residential and commercial neighbourhood located near the Guadalquivir River. Known for its wide, tree-lined avenues and a short distance away from the fairgrounds at the famous Feria de Abril, this area of Seville offers a more quiet and suburban feel while still being close to the city centre. Los Remedios features good schools, parks, and shopping options, making it popular among families.
Nervion
Nervion is a bustling commercial district that combines residential living with business and retail hubs. It is home to the Nervion Plaza shopping centre, the Ramon Sanchez Pizjuan Stadium, and several corporate offices. This neighbourhood offers a modern lifestyle with excellent facilities, including schools, hospitals, and great public transport links, attracting young professionals and families.
Triana
Triana is located across the Guadalquivir River from the historic centre of Seville and it is known for its rich Flamenco culture, traditional ceramics, and vibrant street life. This neighbourhood has a distinct identity with its colourful buildings, lively markets, and bustling tapas bars. It's an area that blends tradition with a lively vibe. Triana is popular with artists, students, and anyone looking to experience authentic Sevillian life.
La Macarena
Known for a diverse and electric neighbourhood with a mix of historic sites, such as the Basilica de la Macarena, and modern developments. It offers a busy atmosphere, with numerous markets, tapas bars, and cultural venues. This area is known for its bohemian atmosphere and affordable housing options, attracting students, young professionals, and those seeking a more laid-back lifestyle.
Sevilla Este
Sevilla Este is a modern, suburban neighbourhood located on the eastern edge of Seville. Characterised by its contemporary housing developments, parks, and spacious streets, the area offers a quieter and more affordable living environment. Seville Este is well-served by public transportation and amenities, making it ideal for families and those looking for a more peaceful, residential setting away from the city's hustle and bustle.
Bilbao: The Northern Powerhouse
Nestled in the Basque Country, Bilbao boasts a rejuvenated urban landscape with modern architecture, such as the iconic Guggenheim Museum, and a thriving arts scene. The cost of living is relatively lower compared to other major European cities, and the real estate market presents a range of options from historic apartments to contemporary homes.
The main reasons people are buying property in Bilbao include the following factors:
- Bilbao offers a rich cultural scene, including world-class museums, dining, and festivals, alongside a high quality of life with excellent public services and green spaces.
- The city features a diverse property market with options ranging from historic buildings to contemporary homes, often at more affordable prices compared to other major European cities.
- Bilbao's robust economy, driven by sectors like finance and technology, combined with its strong infrastructure, makes it an attractive location for investment and long-term residence.
Average Property Prices in Bilbao
- City Centre: €3,000 to €4,000 p/sqm
- Otxarkoaga: €2,000 to €2,500 p/sqm
- Santutxu: €2,000 to €2,500 p/sqm
These prices can be used as a general guide but the property prices in Bilbao and the areas shown will fluctuate depending on property type, size, condition and features.
Neighbourhoods in Bilbao
City Centre
The city centre of Bilbao includes areas like Abando and Indautxu and is the heart of the city's cultural and economic life. Residents who live in the centre of Bilbao enjoy a wealth of amenities, including high-end shopping, fantastic restaurants and buzzing nightlife. The central location offers excellent connectivity through public transport, making it convenient for professionals and families too.
Otxarkoaga
This neighbourhood is known for its quiet, suburban feel and more affordable property prices compared to the central areas of Bilbao. Otxarkoaga has a strong community with local markets and an overall more laid-back lifestyle.
Santutxu
Santutxu is one of Bilbao's largest neighbourhoods. A densely populated area known for its busy local life and diverse population. The area offers a mix of traditional Basque culture as well as modern benefits with several shops, bars and restaurants lining its streets.
The Best Places to Buy Property in Spain: A summary
To summarise, Spain's diversity of places provides an abundance of real estate opportunities in 2024 and beyond, all catering to different tastes and preferences.
All of the locations that we have mentioned offer distinct advantages as do so many other amazing places in Spain, this allows the country to be an attractive destination for property buyers. Whether you prioritise urban excitement, a place with traditional culture, natural beauty, or an economic powerhouse, Spain is sure to have an amazing location for you.
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