Inexpensive properties in Spain

Affordable Real Estate in Spain

What is it and why choose Spain?

Affordable real estate in Spain refers to the market segment where you can purchase move-in ready housing with a budget ranging from €80,000 to €180,000. The primary reason for choosing Spain among Germans, French, Dutch, and Scandinavians is the unique combination of three factors: EU resident status, a Mediterranean climate, and a genuinely functional infrastructure at an accessible price. In 2026, this is, in 95% of cases, resale property (segunda mano), typically consisting of buildings constructed between 1995 and 2010, often requiring cosmetic renovation (reforma cosmética) or partial updating (necesita actualización). This is not an investment in luxury, but a purchase of quality of life for pragmatic individuals.

What specific types of properties are available and where to find them?

The market offers a clear typology of properties, each with its own characteristics:

• Studios (Estudios): Compact housing of 30-40 m², often with a combined kitchen-living area. An ideal starting point for a single person.

• One-Bedroom Apartments (Pisos de 1 dormitorio): The classic option with a separate bedroom, spanning 45-60 m².

• Small Townhouses (Adosados pequeños): 2-3 bedroom homes in terraced developments, usually located in remote urbanizations (urbanizaciones alejadas) 5-10 km from the coast.

New builds (obra nueva) in this price range practically do not exist, with rare exceptions being micro-studios in tourist complexes.

Current Prices in 2026: From Minimum to "Budget" Options in Prestigious Areas

• Absolute Minimum: From €75,000, you can find a studio without renovation (sin reformar) in municipalities of the province of Murcia (Costa Cálida) or Almería, located 25-35 minutes' drive from the sea.

• Leader in Affordability – Costa Blanca: In Torrevieja, a studio in good condition costs from €90,000, a one-bedroom apartment from €110,000. In Orihuela Costa, prices start from €95,000.

• "Accessible" Premium Zone – Costa del Sol: In Marbella, the concept of "affordable" is relative. The most budget-friendly offers are apartments in older complexes in areas like Las Chapas or San Pedro de Alcántara, priced from €150,000. In Málaga, similar options start from €130,000.

• Capital Context – Barcelona: Here, the budget segment (from €180,000) is concentrated in older buildings in districts like El Raval or in suburbs such as Badalona.

Detailed Purchase Process: From Negotiation to Completion

• Search and Negotiation Stage (Fase de búsqueda y regateo): A key moment for saving money. For properties listed for over 6 months (más de 6 meses en el mercado) or sold "as a renovation project" (para reformar), confidently start negotiations by offering 10-15% below the asking price. Your arguments: the need for investment, low energy efficiency rating (clase energética baja), lack of an elevator.

• Legal and Technical Due Diligence Stage: It is mandatory to request from the seller:

  • Property Registry Note (Nota Simple Registral): To verify clean title.

  • Certificate of No Community Debts (Certificado de deudas de comunidad): Debts are transferred to the new owner.

  • Technical Report (Informe técnico) or a valid Energy Efficiency Certificate (Certificado de Eficiencia Energética).

• Financial Stage: Mortgages for non-residents (Hipoteca para no residentes) for such properties are granted reluctantly. Banks require a down payment (entrada) of 40-50% of the cost and conduct a mandatory bank valuation (tasación bancaria), which often turns out to be lower than the agreed price. Developer financing (financiación del promotor) is not provided in this segment.

• Transaction Completion: After checks, the Property Transfer Tax (ITP — Impuesto sobre Transmisiones Patrimoniales) is paid, ranging from 6% to 10% depending on the autonomous community. The final act is signing the Public Deed of Sale (Escritura Pública de Compraventa) before a notary and registering the property title.

Prospects: Residency, Rental, and Who Benefits

• Residency Permit (ВНЖ): The purchase of affordable real estate itself does not grant an automatic right to residency. For the Golden Visa, an investment of €500,000 or more is required. However, owning property serves as proof of accommodation (acreditación de alojamiento) when applying for other types of residence visas, for example, the non-lucrative residence permit (residencia no lucrativa), which requires proving regular income from abroad.

• Rental (Alquiler): Long-term rental (alquiler a largo plazo) can yield an annual return (rentabilidad anual) of 3-5%. Short-term tourist rental (alquiler turístico) is often unprofitable due to high requirements for obtaining a tourist license (licencia turística) and intense competition.

• Target Audience: The purchase is ideal for European pensioners and remote workers (digital nomads) who want to legalize their stay (legalizar su estancia) in Spain, fix their housing costs (fijar el coste de la vivienda), and have a reliable asset in a stable country.