Real Estate in Spain

When making the important decision to buy a home — whether a house, apartment, or villa by the sea — it is essential to work with professionals who have been matching clients with their dream properties for many years. At Granfield Estate, we’ve been helping international buyers find their perfect property on the Costa Blanca for over a decade. This article explains why Spain remains one of the best destinations for property purchase, which regions are most attractive, and what advantages come with owning property in this sunny country.

Why Choose Property in Spain

Spain is the third-largest country in the EU and one of the most popular destinations for foreign property buyers. There are several compelling reasons:

• Climate. The Mediterranean coast enjoys more than 300 sunny days a year. Mild winters (+10..+15°C) and warm sea from May to October make life in Spain comfortable year-round.
• Accessible prices. Compared to France, Germany, or the UK, property on the Spanish coast is significantly cheaper for a comparable or higher quality of life.
• International infrastructure. In popular regions — Alicante, Torrevieja, Costa del Sol — there is well-developed international infrastructure: schools, healthcare, shops, and restaurants in multiple languages.
• Residency through property purchase. Buying a property worth €500,000 or more qualifies the whole family for a "golden visa" — a residence permit with no continuous residency requirement.
• Investment potential. Spain welcomes over 80 million tourists a year, generating steady demand for short-term rentals and rental yields of 5–8% per annum.

Popular Regions for Buying Property in Spain

Alicante — Capital of the Costa Blanca

Alicante is one of Spain's most convenient cities for relocation and permanent residence. An international airport with flights across Europe, a busy port, a historic city centre, beautiful beaches, and a mild climate. With a population of around 350,000, including a large international community, Alicante offers everything needed for comfortable living: universities, schools, modern hospitals, shopping centres, and diverse dining.

Property prices in Alicante: city-centre apartments from €120,000–€180,000, beach apartments from €150,000–€250,000, suburban villas from €250,000.

Torrevieja — The Premier Resort for Russian Speakers

Torrevieja has earned its reputation as the most Russian-speaking city in Spain. Around 30–40% of the population are from Russia, Ukraine, Belarus, and other former Soviet countries. The city has Russian-speaking doctors, lawyers, estate agents, and shops. Torrevieja's unique combination of Mediterranean coastline and pink salt lakes creates a therapeutic microclimate particularly suited to people with respiratory or skin conditions.

Property prices in Torrevieja: studios and one-bedroom apartments from €60,000–€90,000, two-bedroom flats from €90,000–€130,000, townhouses and bungalows from €100,000–€200,000.

Benidorm — Resort for Active Living

Benidorm is a lively town in Alicante province, famous for its high-rise skyline, long sandy beaches, and vibrant nightlife. Entertainment is available year-round: waterparks, theme parks, the Mundomar nature park with exotic animals, discos, and Spanish restaurants. Benidorm is ideal for family holidays and tourist rentals.

Prices: sea-view apartments from €150,000, penthouses and villas from €300,000.

Orihuela Costa — A Quieter Alternative

The Orihuela municipality includes the resort areas of Playa Flamenca, La Zenia, Cabo Roig, and Los Dolses. These are quiet, well-kept neighbourhoods with modern construction, wide pedestrian zones, and good infrastructure. Popular with European buyers who value nature and tranquillity.

The Benefits of Buying Through an Agency

Independently purchasing property in another country is a complex task. Language barriers, unfamiliarity with the legal system, and distance from the market create serious risks. A trusted estate agency helps:

• Find properties matching your budget, preferred location, and property type
• Arrange viewings (including online or during a specially organised buying trip)
• Negotiate with the seller and secure the best price
• Coordinate the lawyer, notary, and gestoría
• Accompany the transaction from first contact to key handover and beyond

At Granfield Estate — a licensed agency (RAICV1663) and member of Asivega, the largest estate agents association on the Costa Blanca — we work with clients from across the world, specialising in the Costa Blanca: Alicante, Torrevieja, Orihuela Costa, Benidorm. Our services to buyers are free of charge — the commission is paid by the seller.

How the Property Buying Process Works in Spain

1. Property search and selection — online or during a visit to Spain.
2. Obtaining NIE — the foreigner's identification number, required for any transaction.
3. Opening a Spanish bank account.
4. Legal due diligence — registry search, debt and encumbrance check.
5. Signing the preliminary contract (arras) with a deposit.
6. Notarial deed of sale — signing the escritura de compraventa.
7. Paying taxes and fees (10–12% of property value).
8. Property registration at the Registro de la Propiedad.

Long-Term Investment Outlook

Spain remains one of Europe's most stable property markets. Following recovery in 2015–2019 and a pandemic pause, the market entered a phase of sustained growth: +8–12% per year according to 2023–2024 data on the Costa Blanca. Reduced supply, growing tourist inflows, and European buyer demand are factors supporting prices over a 3–5 year horizon.

Conclusion

Property in Spain is simultaneously a home, a holiday retreat, an investment vehicle, and potentially a pathway to Spanish residency. With its climate, infrastructure, culture, and accessible prices, Spain remains the first choice for property buyers across the world. Contact Granfield Estate — we will help you find the ideal property and guide the entire transaction from start to finish.

Why Choose Granfield Estate

• Local expertise: Our agents live on the Costa Blanca and know every neighbourhood in Torrevieja, Orihuela Costa, Alicante, and Benidorm.
• In-house lawyer (10+ years): NIE, bank account, due diligence, notary — all under one roof. First consultation free.
• Buyer pays nothing: Our services are free for buyers — the seller pays the commission.

Granfield Estate
Av. Bélgica 1, C.C. Parquemar, La Mata, 03188 Torrevieja (Alicante)
Tel: +34 865 44 33 33
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Frequently Asked Questions

Can foreigners freely buy real estate in Spain?

Yes. Spanish legislation does not restrict foreigners from purchasing residential or commercial real estate. The only mandatory requirement is the presence of an NIE (Foreigner Identification Number) and a Spanish bank account. Both documents are processed during the preparation for the transaction.

Which region of Spain is best for buying property by the sea?

Costa Blanca (Alicante province) is considered one of the best options: over 300 sunny days a year, developed infrastructure, affordable prices, and the largest Russian-speaking community in Spain. Torrevieja, Orihuela Costa, and Alicante offer a wide range of properties for any budget — from studios starting at €55,000 to villas with pools.

What is the rental yield from real estate in Spain?

In the tourist areas of Costa Blanca, the yield from short-term rentals is 5–8% per year. Long-term rentals provide a more modest 3–5%, but are stable. Key factors include proximity to the sea, the presence of a pool, and a tourist license (licencia turística). Granfield Estate helps assess the rental potential of each specific property even before purchase.

How much does it cost to maintain real estate in Spain per year?

Main annual expenses: IBI (property tax) — €200–600, IRNR (tax for non-residents) — €150–400, community fees (comunidad) — €80–200/month, utilities — €100–250/month (when actually living there). In total — from €2,000 to €6,000 per year depending on the type and size of the property.