Buying your second home (and perhaps your future main residence) is much cheaper in Spain than some of others European countries. As well as the pleasure of enjoying it and having others enjoy it, it's an excellent investment, with minimal charges and a few local taxes !

Is buying a second home in Spain really a good idea? Obviously, it all depends on your budget, your needs, and your wishes. But it has to be said that Spain has a lot of advantages.

Quelles sont vos priorités pour acheter un logement à l’étranger ? On dirait que d’abord le climat, puis le prix, et ensuite le mode vie. Ça tombe bien, c’est la définition même de l’Espagne !

Sun all year round

Investing in Spain means investing in the sun. You benefit from an exceptional climate, with more than 300 days of sunshine a year on average. And even 320 days in Andalusia.

Incredible geographical diversity

With a surface area of 500,000 km2, Spain has large modern urban centres and an exceptional natural environment, with its different landscapes, pueblos ( villages) , beaches, mountains and plains.

An exceptional cultural and gastronomic heritage

Spain is the third most popular tourist destination in the world. And there are plenty of good reasons for that apart from the beaches. In particular, its monuments and architecture are unique in the world. When it comes to gastronomy, Spanish chefs have been considered among the best in the world for several years now!

A lower cost of living than elsewhere in Europe

Spanish services, leisure facilities and shops are at least as good as those in France, Belgium, Switzerland and other European countries. But at much lower prices.

A local destination

It's very easy to get to Spain from anywhere in Europe. For French residents, it's a close destination by road, rail or air. The Spanish airport network gives you access to all the major French-speaking and European cities in less than 2 hours. And at competitive prices.

Prices still very affordable

Not everyone can afford a second home on the French Riviera. The big advantage of Spain, apart from year-round sunshine, is that you benefit, on the one hand, from unbeatable value for money when it comes to property and, on the other hand, from very low running costs. Prices are significantly lower in Spain than in France, Belgium or Switzerland.

Property on Spain's Mediterranean coast is available to suit all budgets: from an average of €1,000 per m2 (the cheapest in Algeciras) to an average of €6,000 per m2 (the most expensive in Ibiza). There are still some very good deals to be had, particularly in the outlying districts of Barcelona and Madrid. And of course in the villages along the Andalusian coast, or in the rural areas a few kilometres inland.

The Atlantic coast of north-west Spain (Galicia, Asturias) is also very affordable, with prices around €1,500 per m2. In the interior of Spain, you'll find properties at €500 per m2

Advantageous local taxes and charges

Other good news: the tax regime there is very attractive, particularly as there is no council tax! And the property tax (IBI) is very low, even for a second home.

You will be liable for IRNR, non-resident income tax, which is 19% on 1.1% of the cadastral value of the property.

Council charges (excluding major works such as restoration) are traditionally low in Spain.

And later, when you retire (or even before), you may decide to join the ranks of foreign residents who live in Spain all year round. Your children will then be eligible for a full exemption from inheritance tax if your property is located in Andalusia or in the Community of Madrid, the Canary Islands, Cantabria, Extremadura, Murcia or La Rioja. However, other regions will follow suit during 2023 and 2024

Get help with your property purchase in Spain!

Before you take the plunge, however, you should be aware that the rules governing the purchase of property in Spain are different from those in European countries. And it's always a good idea to enlist the help of an expert to assist and advise you throughout the process.

You don't have the time. You're not in Spain. What's more, you don't speak Spanish. Or you simply want to go through a professional intermediary to guarantee your interests and to complete your purchase as smoothly as possible.

The expert advice and support we provide before, during and after the purchase will help you save :

• Time
• Money.
• Unpleasant surprises