Spain is experiencing a golden age in the luxury country estate market. From Andalusia’s historic cortijos to Catalonia’s beautifully restored masías, and from Galician pazos to Basque farmhouses, these properties have become the new object of desire for both Spanish and international buyers. Their appeal goes far beyond real estate: they embody authenticity, privacy and a deep connection with nature, while also representing a sound investment in a rapidly expanding market. Alexander Vaughan, co-founder of Lucas Fox, sheds light on this growing phenomenon.
Spain ranks among the countries with the highest international demand for luxury properties, thanks to its natural beauty, enviable climate, rich culture, world-renowned gastronomy and wide range of exclusive homes in prime locations.
Indeed, sales of rural estates have surged over the past two years. With more than 50 million hectares of rural land, and according to data from the College of Property Registrars, the number of transactions in this segment continues to grow steadily – driven by a new kind of buyer seeking not just a house, but space, authenticity and an escape from the ordinary.
As lifestyle increasingly becomes a priority for high-end buyers, many are seeking properties that not only represent a sound investment but also reflect a particular way of life – one that values outdoor space, privacy and a closer connection to nature.
The pandemic proved transformative in this regard. The experience of lockdown, the rise of remote work and a growing focus on well-being have prompted many families and professionals, both Spanish and international, to reconsider how and where they live. Rural properties – particularly those with existing homes or the potential for renovation – have emerged as a compelling alternative to city life, offering more space, less stress and the chance to live or unwind in natural surroundings.
Within the prime real estate market, rural estates now stand out as strategic assets: unique properties prized for their design, tranquillity and often fascinating history. Typically located in lush, secluded settings, they appeal to buyers seeking character, heritage and a sense of escape from the everyday.
In this segment, Spain once again showcases its extraordinary diversity and distinctive charm, offering an exceptional range of rural luxury properties – from vineyard estates, castles and centuries-old masías to manor houses, cortijos and smallholdings. Scattered across the country, these estates take on different names and architectural styles depending on their region and historical character, reflecting Spain’s rich cultural and geographical variety.
The profile of the rural property buyer has also evolved. Whereas these homes were once the domain of farmers, heirs and countryside enthusiasts, today they attract a new generation of investors, digital professionals, tourism entrepreneurs, creatives and high-net-worth foreigners – particularly Americans. Well-positioned estates are increasingly being converted into boutique hotels, eco-villas, wellness retreats or sustainable agricultural projects. In this new landscape, luxury can take many forms: a restored farmhouse in the Empordà, a working estate in Extremadura or a traditional Andalusian cortijo.
Though often located away from major urban centres, these properties benefit from good transport links and stand out for their authenticity and versatility. They offer an enviable quality of life and a wide range of potential uses – from rural tourism and winemaking to farming or livestock breeding – combining lifestyle and investment in one unique proposition.
Among the main factors driving demand for rural properties are the pursuit of space and privacy, the appeal of equestrian and hunting activities, and the growing trend of converting estates into hospitality or rental ventures. There is also a renewed interest in agriculture. Increasingly, international buyers are drawn to productive estates with vineyards, olive groves or almond orchards, attracted by both their beauty and long-term investment potential.
With prices per square metre still comparatively competitive, many of these rural properties offer clear opportunities for forward-thinking investors – particularly in areas of outstanding natural beauty or close to established tourist destinations. In addition, the rise of renewable energy initiatives, viticulture and agritourism has introduced new dimensions of profitability to these assets.
This resurgence of luxury country estates is taking place against a backdrop of growing interest in sustainability and rural living. For many Spanish and international buyers, these properties now form part of a diversified investment portfolio – a tangible, reliable asset that combines heritage, lifestyle and long-term value.
At the same time, improvements in infrastructure and the expansion of high-speed fibre optic networks have helped to overcome one of the main historical barriers to rural life: poor connectivity. As a result, living – and working – in the countryside has never been more accessible or appealing.
Many of these properties enjoy a high level of protection – not only because of their location in areas of outstanding natural beauty, but also due to the historical value of the buildings themselves. Far from being a drawback, this protection adds to their appeal. For discerning buyers, restoring a heritage property offers the opportunity to create a truly bespoke home while preserving its original character and authenticity.
Moreover, heritage-sensitive renovations in high-demand areas can increase a property’s value by between 30% and 40%, making such projects both culturally rewarding and financially sound.
Among Spain’s regions, the province of Girona in Catalonia has emerged as one of the most coveted destinations for rural property investment. Its stunning landscapes, rich cultural heritage and proximity to both the sea and the Pyrenees – along with its charming medieval villages – make it a highly desirable area. At Lucas Fox Costa Brava, rural estates accounted for 33% of total sales last year, compared with just 3% in 2020, reflecting the sector’s remarkable growth.
Demand is also thriving in northern Spain, particularly in the Basque Country and Galicia, where buyers are rediscovering the allure of pazos (Galician manor houses), Indiano-style homes and traditional caseríos (farmhouses). The mild climate of these regions – with temperate summers and gentle winters – has turned them into sought-after refuges as southern Europe faces increasingly extreme weather.
For many international buyers, these purchases carry a personal connection: some have ancestral roots in the area or have been inspired by experiences such as walking the Camino de Santiago.
Andalusia and Extremadura deserve special mention for the remarkable growth it is experiencing in rural estate and grand farmhouse transactions. The region offers an exceptional variety of historic properties set within vast tracts of land, highly prized for residential use as well as for agricultural, equestrian and rural tourism projects. This trend is particularly evident in areas such as La Vera (Cáceres) and the provinces of Córdoba, Seville and Cádiz.
Overall, Spain’s rural property market is a thriving segment that continues to attract both Spanish and international buyers. It reflects the country’s distinctive character – a blend of tradition and innovation – with unique, heritage-rich estates being reimagined through contemporary interior design that moves away from the minimalist and neutral aesthetics of recent years.
What we are witnessing is not a passing trend but a structural shift. Rural properties are moving from the margins to take a central role in the real estate strategies of investors, developers and private buyers alike.
This article was written by Alexander Vaughan, a British lawyer and co-founder of the luxury real estate agency Lucas Fox. These are indeed exciting times for the Spanish property market, with strong indicators of growth, robust domestic and international demand, and Spain’s increasing prominence on the global stage for luxury real estate investment.