Apartments in Spain

Apartments and Flats in Spain: Investment, Residency, and Choice in 2026

Buying an apartment in Spain is a strategic decision, be it for investment, obtaining a residence permit, or acquiring a home for living. The country consistently attracts buyers with its combination of high quality of life, favourable climate, and transparent legal system. According to data from Spain's National Statistics Institute (INE), in 2025 the number of residential property transactions increased by 4.2% compared to the previous year, confirming sustained demand. The average rental yield nationwide ranges from 4.8% to 6.5% per annum, depending on the region, while price growth has stabilised at 2-4% per year, eliminating the risk of market "overheating". A key trend remains the demand for energy-efficient properties (Class A/B) compliant with EU directives.

Types of Flats and Apartments: From Studio to Penthouse

When planning to buy property in Spain, it's important to understand the local typology. The most affordable option is a studio (estudio) with a combined kitchen-living area. A one-bedroom flat (piso de 1 dormitorio) typically has a separate kitchen. Two- and three-bedroom apartments (piso de 2/3 dormitorios) are the most popular format for families and long-term investments. A duplex (dúplex) is a two-level apartment. A penthouse (ático) is a top-floor apartment, often with a terrace and a view. A crucial distinction: a new build (obra nueva) from a developer involves paying VAT (IVA 10%) and meets modern standards, while resale property (segunda mano) is subject to a property transfer tax (ITP, 6-11%) and often offers a better location.

Prices, Locations, and Goals: How to Choose Correctly?

The current price per square metre in 2026 varies by region. According to data from the Idealista portal for Q1 2026, average prices are: Barcelona — from €5,200/m², Madrid — €4,800/m², Costa Blanca (Alicante) — €2,100/m², Costa del Sol (Málaga) — €3,500/m². Pensioners and families seeking permanent residence often choose affordable and sunny regions — Costa Blanca (Torrevieja, Orihuela Costa) or Murcia. Investors focus on cities with high tourist traffic: Barcelona (districts like Eixample, Sants-Montjuïc), Benidorm, Marbella. Here, a key parameter is having a tourist licence (licencia de turismo) for legal short-term rentals. To obtain a residence permit through investment (Golden Visa), a property valued at €500,000 or more is required.

The Purchase Process: 5 Key Steps

The Spanish purchase procedure is transparent and takes 2-4 months for a non-resident. 1. Obtaining the NIE (Foreigner Identification Number) — the foundation for any transactions. 2. Legal due diligence: audit of the property title (nota simple), verification of no outstanding debts for property tax (IBI) or community fees (comunidad). 3. Signing a private purchase contract (contrato privado de compraventa) and paying a deposit (usually 10%). 4. Signing the public deed before a notary (escritura pública) and final settlement. 5. Registration in the Property Registry (Registro de la Propiedad). Total additional costs on top of the price: 10-14% (taxes, notary, registration). For rental management, a tourist licence and a contract with a management company (gestoría) are mandatory.