Category: General Info

Spain Property Prices Move Upwards

Spain’s property prices have been steadily increasing year on year since the European credit crash in 2008 and the market is recovering strongly since the pandemic. According to the National Institute of Statistics (INE), in January 2022, a staggering 52,684 property transactions took place in Spain, which is the highest figure for the first month of the year since 2008. February 2022’s figures were slightly higher at 53,623 transactions, which is an annual increase of 24%.

20.4% of February’s property transactions were new homes and 79.6% were used. The number of new homes being purchased increased by 9.2% compared to February 2021 and used homes increased by 28.4%.

A recent news report by one of Spain’s national newspapers- El Mundo, highlighted how the demand for Spanish homes continues to outweigh the supply, with a huge decline in available properties. The stock of available housing for sale has fallen by 17% in the last year alone. The decline of available homes is no doubt a knock-on effect from the pandemic, a pattern which is being seen in several countries across Europe. 2020’s lockdown temporarily brought the property market to a standstill and construction of new properties was paused. When the country started to open back up, there was then a surge of backlogged buyers and a lack of available projects.

According to Idealista, in the year of the pandemic, sales among foreign residents fell by 22.1%, but in 2021 these figures rose by 51.2%. It’s clear to see that the Spanish property market is on an upward trend and experts estimate that we will see approximately 750,000 property transactions take place this year with an average price growth prediction of 10%.

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Why You Should Look To Tenerife For A Property Investment

The tropical climate of Tenerife makes it ideal for those who would like warm weather all year round while still living within the confines of Europe. The island is less expensive than most tourist destinations in continental Spain with lower real estate prices compared to the national average, which makes it an excellent investment opportunity for property buyers.

As is the case in almost every corner of Spain, the prices of apartments and houses are also increasing in Tenerife. The average price per square metre was around €1,200 in 2016, with properties in Santa Cruz de Tenerife, the capital of the island, fetching almost €1,400 per square metre. The market is expected to grow steadily throughout 2017, although at a slower pace than Madrid or Barcelona.

Which Areas in Tenerife Are Most Sought After?
Although the island is small compared with Sardinia or Cyprus, Tenerife has a wide variety of landscapes with average temperatures of 18 degrees Celsius and higher, even in winter. The main tourist areas are Las Américas and Los Cristianos on the South of the island. For beach lovers who want to enjoy warm days and sunny weather all year round, the southern areas will be ideal.

There are established Los Cristianos estate agents in the south who can give you all the advice you need to make the right choice when purchasing a Tenerife property either as a home, or as an investment.

If you don’t mind cooler weather but would still like to live right next to the sea, the north of Tenerife has a more temperate climate compared to the south. At Puerto de la Cruz most days are cloudy due to its close proximity to the 3,700 metre Teide volcano, the highest mountain in Spain.

San Cristóbal de la Laguna, known as the university city of Tenerife, has a very mild mountain climate that can be very pleasant when most other places on the island become very hot. It is situated just a few kilometres from Santa Cruz if you need something that can only be found in the capital city.

For city lovers, the best option is Santa Cruz de Tenerife where all the basic facilities such as big shopping malls and hospitals can be found. Due to the small size of the island, the beach can be reached easily by car within an hour. The highway connects the South with the North and other main routes make it easy to reach any place on the island by car in less than three hours.

Easy Access to Spain and the Rest of Europe
The island is reachable only by plane or ferry and has two airports in the North and South with connections to all major cities in Europe.

British, Italians, and Belgians are the top investors although the British top the list, as in other parts of Spain. There was also a considerable interest by Russian investors during the economic boom in their country and as a result, there are quite a few restaurants and shops promoting Russian food and goods in their language.

Tenerife offers the prospective home buyer more than any other location in Europe and in recent years, better returns have rarely been found elsewhere in Europe. Property prices have increased comfortably for homeowners in Tenerife making it an extremely attractive destination for anyone from the UK looking to relocate to a warmer climate while staying within the borders of Europe.

There are several well established estate agents in Tenerife to choose from. They’ll be able to guide you through the process and the language barrier if you’re not Spanish speaking.


Important Information If You Want to Live in Spain

Tapas bar in Barcelona

Spain is a modern country and when you live in it you can have the advantage of living in a modern environment enhanced by a well-developed infrastructure. Life runs at a pace that is balanced and relaxed in comparison with other neighboring countries in Europe, while the climate allows you to enjoy its outdoor resources, regularly.

Spain has an architecture that is rich in culture while having buildings that are modern and historical. The majority of the population, about 90%, is Spanish with other ethnic minority groups that include people from Morocco, Romania, Ecuador, and Colombia.

Spain and Expats

Of the total population of Spain, 6% are expatriates, and they are made up of immigrants from North Africa, South America, and Britain. The country is popular with people who have retired because of its warm climate, low cost of housing, and a high living standard. People who come to Spain from other countries, as expatriates, open up facilities that are popular with tourists, like nightclubs, cafes, and bars.

If you are seeking a life that is relaxed and laid back, expatriate life in Spain is one that will suit you. The local population is trusting and friendly, and most of the people in the country are family friendly. If, however, you are looking for a quiet life, you may find the coastal towns inappropriate, as they tend to attract a large number of tourists, annually.

Living Costs In Spain

The cost of living in this country can depend on the town where you live, as well as your own lifestyle. Luxury goods and fine dining are very expensive in Spain, but if you adopt the living and eating style of the local population, your money can go much further than it used to in your country.

The cost of housing is reasonable, but can be high in cities and towns that are tourist destinations. The costs of utilities are high and you will find a difference of at least 20% than in the USA and UK, and this is especially marked in the cost of bottled gas. The food, however, is much cheaper as long as you avoid fine dining and the tourist spots. Prices in restaurants are reasonable.


Spain has a number of languages and dialects in its various regions.

Catalan is the language in the province of Catalunya (Barcelona)
Valenciano that is a close relative of Catalan is spoken in Valencia
Gallego is spoken in the province of Galicia in the northwest and is a mixture of Portuguese and Castellano
Euskera/Vasco is the language, traditionally spoken, in northern Navarra and Pais Vasco
Makkorquin in the Balearic Islands is its principal dialect
Asturianu (Bable) is spoken in most of the countryside and is similar to Castellano.


Coastal Spain that is on the North Atlantic and has mild summers, fairly cold winters and substantial amounts of rain.

The interiors of Spain have a climate that is continental, while its Mediterranean coastal areas in the east and south are hot, both in summer and winter.

Career Prospects for Expats

The unemployment rate in Spain is relatively high, and this results in competition for jobs. The situation is made worse, because of regulations in force for the employment of foreigners, and people who are not citizens of European Union countries will find job opportunities very limited. Even those who are from EU countries will need to have a fair knowledge of Spanish (Castilian) and must have a strong network, as most jobs are found on the basis of personal connections. You can find jobs if you are willing to work in restaurants or bars, in retail, or as a teacher of foreign languages.

There are vacancies for technical posts. Occupations, where there are such shortages, are listed on the INEM website. You will need to know Spanish if you want information from this website of the National Employment Institute or Instituto Nacional de Empleo.

Important Facts for Expats Wanting to Live in Spain

You will need to get an NIE number which in Spanish is the Numero Identificacion de Extranjeros. It is an identification number that is given by the Foreigners Office or the area police, and Spanish law requires all foreigners to be registered with the local authorities. Refer to city guides if you want to know how to register for an NIE number.

Once you have decided where you want to live in Spain, Register your family including your children at the Town Hall for the “Empandronamiento”. This is important, as then the town can claim a budget, that depends on the number of people who live there. The Certificate of Empadronamiento is a document that is needed when you want to use health facilities, register for schools or even to purchase a car.

You may find water shortages in Southern Spain and at these times, there are restrictions on its use.

Motorists do not always stop at pedestrian crossings, and so you need to be careful when you cross a road.

Banks in Spain only operate in the mornings.

Accessible housing is fast becoming an important aspect in many localities in Spain and is set to grow with continuing innovation in technology so it’s a major plus for people with disabilities looking to live in Spain.