By Johanna Gardener •
Published: 23 Oct 2024 • 13:06
• 4 minutes read
The Spanish real estate market is experiencing a remarkable resurgence, driven by a renewed demand for innovative and spacious living options with the top three favourite cities for investment being revealed.
Following the Covid-19 pandemic and the social and economic crisis engendered during its time span, some things are starting to look bright with the real estate market certainly being one of those things. Despite past uncertainty, the property market is now rebounding and thriving, while also evolving into a new and dynamic model. Interestingly, after the pandemic, the social need and appeal for new property has soared – the social change has likely been triggered by the prolonged period of lockdown and social inertia. With the end of stringent covid measures and a return to relative normality, people have started to seek out not only bigger homes, but also more innovative homes. However, despite gaining momentum, investment is still precarious and it is essential to procure a deep analysis of the property market to determine what are the best places for real estate ventures.
A wise investment: Spain s top three cities for buying a property with assets
The housing market is undoubtedly one of the most stable when it comes to investing money and yet it does require time and dedication to ensure that after purchasing, our assets will be profitable and long-lasting. In the same way as savings and pensions, investing wisely in a stable property opportunity is in fact another way of securing yourself for later retirement, against inflation or even for future money-making prospects such as rental a boom industry across Europe. Spain varies when it comes to the question of this “stable property opportunity.” Right now, in 2024, real estate analysis has revealed the top three urban winners for those who wish to embark on this property adventure.
Drum roll for Madrid, Barcelona and Málaga.
What links all three urban hubs, of course, are their job opportunities as well as their cultural and leisure prowess. High demand in these areas has an obvious knock-on effect on the real estate market, which is sizably bigger and more exciting for curious investors.
Madrid is one of Spain s top three cities for secure investment opportunities
Let’s start with Madrid. Being Spain’s capital city, it has immense academic, cultural, leisure, employment and of course, tourist opportunities. The latter means that it is a formidable option when considering buying a property to later rent it for short term letting or tourist accommodation, especially given that rental profitability remains consistently stable. Note: there have been some recent changes to legislation regarding property letting so be sure to check this out before falling head first in to a legal case no sooner the property is bought! In addition to ready-made homes, Madrid has expanded access to public land for house construction over the past year, making “build-your-own-home” a viable and enticing option. Who wouldn’t want their own eco-friendly villa on the outskirts of Madrid? Consider that transport connections to quieter Madrileña zones are enviably efficient.
Barcelona: the second capital yet no less worthy for investment opportunities
In 2024, it seems that Spain couldn’t make do with one capital city. It needs two! Spain’s pseudo-capital, Barcelona is the most Europeanised city on Spanish terrain and is more cosmopolitan than Madrid. It is a much-loved tourist getaway given its bohemian vibe, and its unique culture, vibrancy and globalised energy. It has rental profitability options that are higher than the average and like Madrid, is well-connected to quieter zones on its borders, especially areas such as Badalona where the hustle and bustle of Barcelona retreats into a cleaner and more tranquil coastal paradise.
Málaga: a rising phoenix on the property market
The Costa del Sol is a rising phoenix in the world of property investment. Málaga has experienced exponential growth over the past years with huge reformation projects in the city, transforming it into a second Barcelona. It is ideal for second home buying, where tourist rentals are greatly in demand and due to its impressive beaches and cultural energy, profitability in the area is unlikely to change. The quality of life in Málaga is simply unsurpassable. With almost year-long sunshine hours and a diverse landscape, it attracts substantial national and international tourism, as well as its newest expat profile: the digital nomad. Even better is the fact that this southern province of endless coastline and extensive mountain ranges boasts no end of options for investment with the most desirable being in Torremolinos, Benalmadena, Mijas and Fuengirola, Marbella, San Pedro de Alcántara, Benahavís, Estepona, Manilva and Sotogrande.
A realistic reminder: prices for investment are not cheap! Nonetheless, they do vary according to zone with San Pedro de Alcántara, Benahavís and Sotogrande topping the charts for more luxurious options and Manilva and Estepona residing on the more affordable side of the expenses scale. Being famous for golf, sport and with its fabulous beach and beer and wine and dine lifestyle, it makes it a hugely attractive option for Spaniards and foreigners, especially those from Britain, France, Sweden, Denmark and Germany. Oh, and don’t forget. Málaga’s fame reached new heights when Google’s headquarters were established close to the port, making it a hive for innovative professionals.
A decision you won t regret
Malaga, like Madrid and Barcelona, offers excellent investment potential, boasting the highest rental profitability in Andalucía. Coupled with its renowned culinary scene and significantly lower cost of living compared to Spain s larger cities, Malaga stands out as one of the top real estate investment areas in the country. Whether you’re looking for short-term gains or a long-term investment, choosing any of these cities promises strong returns and a decision you won’t regret.
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Written by
Johanna Gardener
Originally from Manchester, UK and with a degree in English with Modern Foreign Languages, she has been a permanent resident in Spain for the past 12 years. Many of these years, she has spent working as a secondary school teacher, as well as in journalism, editing and marketing. She currently lives in the historic centre of Malaga, where she enjoys writing, walking and animals.
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