There are many reasons why Spain is such a popular expat destination. The weather is almost always great with about 137 days of sunshine, natural beauty is abundant, the culture is diverse, the food and wine are renowned the world over, and the country has a rich history and tradition. Spain continues to attract overseas visitors that are looking for a job or lifestyle change. The country is also among the top choices of retirees due to its relaxed lifestyle. An increasing number of expats are settling down in the following property hotspots in Spain.
BarcelonaThe second largest city in Spain has always been a major expat destination and remains so even today. It is the capital of one of the richest areas in the country, Catalonia. After Spain’s real estate crash, the prices of houses in Barcelona dropped by 35 percent and these reduced rates are almost 50 percent of what they were prior to the crash. Barcelona has become a desirable option for many investors during this recovery period and in early 2014, this cultural hotspot of Spain witnesses a rise in real estate prices and sales after eight long years.
Madrid
The capital city of Madrid is another popular place among expats. Upmarket areas such as Salamanca and Castellana are more expensive and attract younger professionals. For more spacious housing, there is Chamartín, where there is an established expat community. This residential area also has modern apartments as well as villas, and it is well connected to the city center by the public transport system. The district of Chamberi offers a small-town ambience and larger apartments are easy to find here. Expats can also find spacious accommodation in the family-oriented neighborhood of Retiro, which is close to the beautiful El Retiro public park.
Mallorca
Mallorca has six different counties, each with a unique identity. Palma de Mallorca is renowned for its high quality of life and has a thriving international and local community. The Old Town and Santa Catalina are prestigious locations full of beautiful architecture. For a seafront residence, head to Paseo Marítimo, which is a hotspot for those who can afford luxury apartments. In the Southwest, you can find many English-speaking communities and the area also has some good international schools. Santa Ponsa is for those who interested in golf properties. The Es Raiguer region of Mallorca may be the ideal choice for nature-lovers. Pla de Mallorca is mostly an agricultural region and properties here are more economical. The South and Southeast of Mallorca have a pleasant climate and are surrounded by stunning sea views. Renting or owning property here will ensure that you enjoy a lifestyle close to your natural surroundings, but with all the modern conveniences.
Costa del Sol
Costa del Sol is a region in the south of Spain, which has attracted a large number of buyers from other countries. The most well known town in the region is Marbella, a high-end destination that has about 200,000 residents as well as a steady stream of tourists. Marbella is full of resorts and a variety of restaurants and bars. Before Marbella became a hub for overseas residents and tourists, the town of Torremolinos was a much sought-after hotspot. Initially a fishing village, it was transformed into a resort and now boasts of a vibrant nightlife. Torremolinos, and Costa del Sol in general has always been popular among British expats. Nerja is a town that has remained mostly unspoilt and still provides its residents with a quaint, typically Spanish lifestyle.
Properties in Benalmadena, located in the heart of Costa del Sol, are highly in demand. It has a spectacular shoreline, scenic mountain landscapes and a variety of restaurants and nightclubs. The surrounding countryside is also the perfect place for hiking and horse riding. Much of the population is centered in the area of Arroyo de la Miel, which lies between the coast and the mountains. There are also many businesses situated here. Tivoli World, the popular theme park is located in Arroyo de la Miel. Another destination in Costa del Sol is Fuengirola, which has a large expat community. Apart from its beaches, which attract residents and holidaymakers alike, Fuengirola also has many historical sites.