When thinking about buying a house in Spain, there are many different options for where to look. As well as things like the relative comfort of work or family, you also have to consider the price per square metre or square foot of the properties in the locations on your wish list. So, where is the cheapest real estate in Spain? And where is the cheapest coastal property in Spain? We have all the details of the cheapest place in Spain to buy property and where you should buy a house.
Big city living in Spain
If you’re looking for a cheap place to live in Spain, it’s usually best to avoid the big cities. The main Spanish cities like Madrid and Barcelona are very modern yet have historical architecture. For this reason, the housing also contains design elements that have a high market value. To live in Spain's big cities, you generally need have a high salary or a hefty pension because the costs of living are considerably higher than in other areas. Nevertheless, Madrid, for example, is a great city for families and there are some cheaper living options on the outskirts.
Cities on the Mediterranean coast
The coastal areas of Spain are especially popular for native Spaniards and ex-pats alike. There are 3 main advantages to these areas, namely sun, sea and sangria! Unfortunately, due to the overpopulation of places like Mallorca and the Costa del Sol, prices have been increasing for years. Even so, compared to other countries, it’s still pretty affordable to live on the Mediterranean coast of Spain – in some areas of the Costa del Sol, you can get easily find an apartment overlooking the sea for under 100,000 euros. A real bargain! For more details on where to buy in the cheapest coastal towns in Spain and the Costa del Sol, check out our guide.
Property for sale in inland Spain
The best property deals to be found in Spain are definitely the cities and municipalities that are in the inland areas of the country. In lesser-known rural regions like Castile-La Mancha, Castile and León and the wine-producing province of La Rioja, you’ll have no trouble finding a cheap farmhouse in the charming Spanish countryside. Some of the cheapest houses for sale in Spain can be found in the towns and villages of these inland regions.
When it comes to finding the ideal area in Spain, though, it’s not enough just to look at the mere economic cost of the property itself. An area or a particular house might be really cheap but remember to calculate how long it will take you to drive from where you live to the nearest city, hospital, beach or airport. Fuel costs can have a big impact on your monthly and annual expenses, especially given rising inflation and the cost of living crisis.
Where to find a bargain in Spain
One very interesting coastal city in Spain is Alicante, where the average price of real estate is around 1,556 euros/m2, considerably less than the Spanish average of 1,888 euros/m2.
On the southern coast of Spain, in the region of Andalusia, prices may be high but there are many places where the average selling price is lower. Almeria is an especially popular destination, famous for its well-preserved Moorish heritage, as well as two coastal towns in its province, Mojácar and Vera. In the interior of Andalusia, Martos, known for its excellent olive oil, is a very cheap city, with apartments for sale for as little as 30,000 euro. Another great option is also Costa Dorada property for sale which is south of Barcelona in the province of Tarragona.
For those looking outside the Spanish mainland, the Canary Islands also have some great deals on offer in the real estate sector and something for all budgets. Tenerife, the largest of the islands, has multiple options available for high-quality villas with widely available for below 200,000 euros.
Wherever you look, remember that prices will fluctuate over time. Keep an eye on idealista/news for all the latest price developments for property for sale in Spain.
- Check out our tips on how to find cheap property in Spain
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