Unknown places in Spain to reside in 2023

España (Spanish for Spain) is, no doubt, one of the wonders of Europe. Spread across a landmass of 505,990 km², 17 unique autonomous regions, 8 112 municipalities/towns/cities and housing about 47 million people (7 million ex-pats included); there is every indication that there will be a high level of diversity and richness in culture, and impressive opportunities to socialize in the country. If you haven’t already, add Spain to your bucket list of must-visit countries, as it is the delight of every tourist regardless of where you come from or your preferences; there is always something for everyone in Spain.

Benefits of a Spanish Visa

To digress a little, you can get a very fancy and standard studio apartment for sale in Spain. In fact, according to Spain-Real.Estate the country is earmarked as a valuable place to reside in. If you can have a Spanish visa, not only do you get to travel to all of the corners of the massive country, but you will also enjoy amazing benefits, some of which are now encapsulated below:
a. An opportunity to live and work in the fourteenth largest economy in the world: according to the Investopedia world data in 2022, Spain is the 14th largest economy with a GDP of about One Trillion, Twenty-Eight Billion Dollars. The country has considerable foreign exports and is thriving on the international terrain. In literal terms, it means the country must have many jobs.
b. Unemployment data: in 2013, unemployment was at an all-time high of 26% in Spain. The country has suffered greatly from economic recession in the past few years but is coming out strong based on the newest economic policies. In 2022, the unemployment rate was pegged at 12%. This is high compared to other European nations, but correspondents and migrants say they experience the same stress getting jobs in Spain as in other European countries, so it is not a dead end.
c. Friendliest Climate in the world and one of the Healthiest Places: With only about 650mm rainfall yearly, you can expect less rain than in other western countries. Sunshine is also at a friendly level, with about 250 – 292 bright days in a year (3000 – 3500 hours of sunshine). Additionally, the life expectancy rate is quite high. It is about 80 years in the UK and 82 years in Spain. Meaning that except in unfortunate circumstances, one is expected to live longer in Spain.
d. Holders of Spanish Golden visa or residency permit can visit 60 + European countries based on the Schengen visa arrangements promoting movements and trade amongst these countries. As such, you wouldn’t need to obtain another visa before entering any of these countries Austria, Belgium, Czech Republic, Croatia, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, and Switzerland. Please note that you must abide by the 30 – 180 days rule.
e. The country is safe to live in: Safety is an non-negotiable part of any country worth its name. According to the Global Peace Index, Spain is number 29 (out of 163) among the most peaceful and secure countries to live in the world. You will agree that is a very fair number. Although like every other locations in the world, there are incidences of unrest sometimes, but the country is relative safe.

Why invest in real estate in Spain

If you have a double mind about investment in Spain, hold a minute and digest the information in this section. Spain is a tourism-inclined economy, and there is a rising value of real estate nationwide in Spain. In real estate, value and returns are critical and at the soul of business. You may recall that Spain took the 2008 economic meltdown hard, and the real estate sector and others crashed. It was a major meltdown, but that is now old news. Nearly two (2) decades after that, the economy has bounced back, and the real estate sector is now one of the largest and fastest growing in the world!
Since 2008, the sector has steeped higher rates. In 2018, a growth of 11% was recorded. In 2022 however, the growth rate was at only 7%. Put in simpler terms if, you bought a property a year before, you would have to add 7% to buy it in 2022. The projections for 2023 are quite conflicting as experts clash on the expectation in the real estate market. Although there may not be clear projections, there are agreed rates and levels.
Firstly, the market is not expected to plummet. It is projected to have a profit increase of a minimum of 1% and a maximum of 7% by the end of the year.
The average cost of housing per square meter in Spain in 2023 is 1,834 euros. While some highly expensive areas will cost up to 3,000 euros, some very affordable locations have as low as 1,000 euros. A brief overview of the most expensive municipalities in Spain include; Benahavis and Marbella in Malaga; Calvia in Mallorca; Sotogrande in Cadiz, and Javea in Alicante, where the average cost of housing is at about a million euros. While the most affordable cities in Spain for buying real estate are Toledo, Cordoba, and Zugar in Granada, where property costs lower than 400 euros per square meter.

As a wrap-up, here is your comprehensive guide on the benefits/ detriments of a Spanish Visa

This article has discussed the highs and lows of the Spanish visa, particularly shedding light on unemployment and the economic boom in the real estate sector. Following the above, it is, therefore a good time to invest in real estate in the country. You will make good returns by investing in the country.