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.
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.
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.