Growing number of Americans in Spain positive for housing market

by Lorraine Williamson
Americans show growing interest in Valencia

MADRID – The number of American expats living in Spain has grown significantly between 2019 and 2021. The same goes for the number of home sales to Americans. 

A report from the General Council of Notaries in Spain shows that the number of Americans living in Spain has grown by 13% between 2019 and 2021. They are Americans settling in Spain for a longer period of time, both digital nomads working abroad or enjoying a new life after retirement. 

Moreover, home sales in Spain to Americans grew even more. Between the first half of 2019 and the first half of 2022, there was an increase of no less than 88%, according to the same report from the notaries. 

Also read: Record amount of houses in Spain bought by Americans 

After Danes, Americans spend the most on a house 

After the Danes, the Americans are the expatriate group that spends the most when buying a home in Spain, at €2,837, or $3,119, per square metre. In addition, the home prices that rose the most during the same period were paid by Americans, according to the report. 

Cogesa Expats

Urban areas 

According to Alex Ingrim, private asset manager and senior investment analyst at Chase Buchanan, US buyers are particularly interested in urban areas like Madrid. These cities offer employment opportunities and amenities that attract people from all over the world. 

Growing interest in Valencia 

While the southern coastal region of Andalucia has always been popular among Americans, there is also a growing interest in the city of Valencia. Valencia is an urban area on the Mediterranean coast with a large expatriate community, many of them Americans. 

Visa for expats 

The fact that Spain offers different types of visas for foreigners can persuade non-EU residents to decide to leave for Europe. Furthermore, the digital nomad visa makes it easier for international telecommuters to move to and work in Spain. 

Alternatively, the golden visa is available to those who buy a property for more than €500,000 and offers the opportunity to live, work and enjoy additional rights in Spain. 

Non-lucrative visas are designed for retirees or individuals who are no longer employed and rely on passive income. 

Baycrest Wealth

You may also like