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Spanish Property Guide: Top Cities To Buy Properties in 2023

Are you thinking of investing in Spanish property? If the answer is yes, then you’re in luck! In this article, we’ll be taking a look at the top cities to buy properties in Spain. We’ll also provide some insights on the Spanish real estate market and pricing by sqm so that you can make an informed decision.

Why Spain? 👀

Spain is one of the most popular countries in Europe for buying property, with millions of foreigners snapping up homes in the sun every year. Numbers don’t lie. Foreign demand for Spanish properties has registered a new historical maximum with a 15.92% share of the total purchase of properties in Spain (3Q 2022).

The Spanish property market has something to offer everyone, whether you’re looking for a city apartment, a rural retreat or a beachfront property. Prices have been steadily rising in recent years, but there are still some great bargains to be found if you know where to look. The average price of housing has also slowed its intensity, with a quarterly increase of 0.1%, significantly lower than the 2.4% of the previous quarter (2Q 2022).

In this guide, we’ll take a look at where to buy property in Spain, as well as what you can expect to pay for different types of properties.

1. Málaga: Top city to buy property in Spain 🥇☀️

If you’re looking for a city with all the charm of Southern Spain but without the highest price tag, then Málaga is the perfect place for you. This Andalusian city is teeming with culture and history, yet it remains affordable for buyers although prices are rising rapidly.

The city’s location on the iconic Costa del Sol means that you’ll never be far from stunning beaches and breathtaking views. And with over 300 days of sunshine per year, you can enjoy those views all year round! If you’re looking for an active lifestyle, there are plenty of opportunities for golf, tennis, sailing, and more. Or if you prefer to relax, you can enjoy the city’s many parks, cafes, and restaurants.


Málaga is also an excellent choice for families thanks to its excellent schools and hospitals. It’s no wonder that this vibrant city is at the top of our list. As of December 2022, the price per sqm in the Málaga province is 2,346 €.

2. Alicante 🌴

Alicante is a beautiful city located on the Costa Blanca in southeastern Spain. It is a popular touristic destination due to its stunning beaches, Mediterranean climate, and rich culture. Alicante is also a great place to buy property.


Alicante is a dynamic city due to its status as the capital of the fifth province of Spain in terms of population and Gross Domestic Product, as well as being the headquarters of the European Union Intellectual Property Office (EUIPO). It also home of the Digital District, headquarters of technological transformation, and “center of the largest innovation ecosystem in the Mediterranean.”

Prices in Alicante are relatively affordable (1,635 €/sqm), and there is a good selection of both new and old properties. Alicante is a great choice for those looking for a sunny place to live or invest in a property.

3. Santa Cruz de Tenerife: the Canary Islands at your feet!🏝

Spain is a renowned country for its beautiful beaches and stunning scenery. The Canary Islands are no different, with their sandy shores, crystal-clear waters and lush vegetation. With its stunning scenery, and a laid-back lifestyle that’s perfect for retirees or second-home buyers looking for a place to escape the hustle and bustle of city life.

Tenerife, Canary Islands

Santa Cruz de Tenerife is the largest city on the island of Tenerife and the capital of the Canary Islands. It’s a popular touristic destination, with its mild climate, year-round sunshine and abundance of activities on offer. The city is known for its carnival, declared a Festival of International Tourist Interest and considered one of the most famous in the world.

Also, prices are still relatively low compared to other European countries, making now the perfect time to invest in property in these beautiful islands at 1,721 € per sqm.

4. Balearic Islands ⛵️

The Balearic Islands are one of the most popular destinations for property buyers in Spain. The islands are an archipelago of Mediterranean islands located off the coast of Spain. The four main islands are Mallorca, Menorca, Ibiza, and Formentera. With a relaxed way of life, it’s no wonder why so many people are drawn to these idyllic islands.

Also, due to their geographical location, the Balearic Islands are an ideal business platform for access to European markets, as well as to the rest of the world’s growing markets. The Islands enjoy a strategic position within the most dynamic area of Spain.

At the moment prices are at 3,706 €/sqm, higher than other places in Spain, however, something to keep in mind is the great potential these properties have as an investment.

Menorca, balearic islands
Menorca, Balearic Islands

5. Madrid: a secure investment 🏙

As the capital city of Spain, Madrid is unsurprisingly one of the country’s best places to buy property. It is one of the most populous city in the European Union with a population of over 3.2 million and is home to a number of world-renowned museums, galleries, and architecture.


The Spanish property market has been on the rebound in recent years, and Madrid is leading the way. Prices in the city have risen by 8.2% in the last year alone, and are predicted to continue to rise in the coming years. This makes Madrid an excellent choice for investment purposes. Currently, the prices are at 3,939 €/sqm. Also, the region has one of the lowest property transfer tax in Spain, a 6% rate.

There is a wide range of property types available in Madrid, from traditional apartments to modern penthouses. And with a booming economy, there is no shortage of renters looking for quality accommodation.

If you’re thinking of buying property in Spain, Madrid should definitely be on your list!

6. Barcelona ⚡️

For some years Barcelona has been at the top picks for foreigners to buy property in Spain. This vibrant metropolis is packed with things to see and do, from world-class museums and art galleries to stunning architecture and delicious Spanish cuisine. There’s something for everyone in Barcelona, making it the perfect place to invest in property.

Barcelona city

The city’s real estate market is booming at the moment, so now is the perfect time to invest in Barcelona. Prices are expected to continue rising as demand for properties in Barcelona increases, so don’t miss your chance to get on the ladder! Currently, the price per sqm in Barcelona city is 4,058 €, which is among the highest in Spain.

Still not sure where to go?

These are the cities we have selected for the start of 2023 based on acquisitions completed by foreigners during 2022. In any case, we believe that regardless of your choice, you’re sure to find an amazing Spanish property that’s perfect for you. Ready to start the house hunt? Get in touch!

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