05.05.2025 
Property Purchase – one of the most important and responsible decisions. A potential buyer faces a number of challenges: high prices, lengthy and complex formalization procedures, significant transaction service costs, and uncertainty regarding investment appeal. In this article, a detailed analytical review of the Spanish real estate market is provided in comparison with other European countries, which will help make an informed choice for personal residence or investment. Keywords: real estate, home purchase, Spain, Europe, prices, comparison, investments.
1. Prices and Property Characteristics
Market analysis shows that in Spain, apartment prices in major cities such as Madrid vary: apartments measuring 100–140 sq.m start at approximately 600 thousand euros, while those of 250 sq.m reach between 950 thousand and 1 million euros. At the same time, in London and Berlin, properties with smaller areas (50–70 sq.m) are common; however, the cost of these apartments can be comparable to the Spanish market, although apartments in London are several times more expensive.
Seaside houses, one of the most popular formats in Spain, are of particular interest. Here, a house in Alicante measuring about 170 sq.m can be purchased for around 215 thousand euros. Villas and coastal apartments are notable for their attractive prices, making Spain competitive compared to Bulgaria and Portugal, where housing prices vary significantly by region.
2. Formalization Procedures and Bureaucracy
Buying property in Spain involves a number of specific requirements. For example, to finalize a transaction, it is necessary to obtain NIE (Numero de Identificacion de Extranjero), open a bank account, and sign a contract with a notary. In addition to the cost of the property itself, the buyer pays notary fees, a property transfer tax (up to 10 percent of the price), and registration fees. The formalization process can take from one to two months, which is relatively fast by European standards.
In other countries, such as Bulgaria, the transaction process is often simpler and quicker, especially for citizens of the European Union ЕС (Европейский союз). However, buying property in England and Germany requires stricter adherence to bureaucratic procedures, which may extend the transaction timeline.
3. Investment Potential and Luxury Real Estate
Spain offers a variety of properties – from affordable apartments to luxurious villas. Elite houses and villas can cost from 1.5 to 25 million euros, attracting both investors and affluent buyers focused on the premium segment. Compared to England and Germany, where luxury real estate prices are often inflated, Spain allows you to find properties with larger areas and additional advantages (such as a swimming pool, unique design, and a prestigious area) at a more favorable price.
Investment appeal is determined not only by property prices but also by the potential rental income. In Spain, rental yields can reach 5–7 percent annually, making the market attractive for long-term investments.
4. Real Estate Market for Immigrants
Many foreigners choose Spain for relocation due to its favorable climate, affordable cost of living, and relatively simple conditions for obtaining a residence permit. Property owners can benefit from the public healthcare system, receiving free medical services upon presenting a health card TSI (Tarjeta Sanitaria Individual), provided that registration and other formalities are completed.
At the same time, buying property in countries such as Germany or the United Kingdom requires more complex procedures, and high prices and taxes complicate matters for immigrants. Bulgaria, on the other hand, attracts with low prices, although properties often have smaller areas, which may not suit family living.
5. Additional Factors: Climate, Infrastructure and Quality of Life
One of the key factors when choosing a country to buy a home is the climate. Spain is renowned for its warm Mediterranean climate with mild winters and hot summers, which is especially attractive to people from countries with harsh winters. In addition to the favorable weather, developed infrastructure, a wide selection of resort areas, and quality medical services create a high standard of living.
When comparing Spain with other European countries, it should be noted that in nations such as France or Germany, higher prices for products, transportation, and services, as well as more complicated formalization procedures, may be observed. Nevertheless, each country has its advantages, such as the diversity of climatic zones in France or the economic stability in Germany.
6. Recommendations for the Potential Buyer
When choosing a property in Europe, the following aspects should be considered:
- Price and Area: Properties in Spain often offer a better price-to-area ratio compared to the major metropolises of the United Kingdom and Germany.
- Transaction Formalization: Procedures in Spain are simplified, but it is necessary to obtain NIE (Numero de Identificacion de Extranjero) and comply with a number of formalities. It is important to prepare the documents in advance and consider the notary fees.
- Investment Potential: The Spanish real estate market offers good opportunities for rental income, especially in popular resort areas.
- Conditions for Immigrants: A favorable climate, affordable cost of living, and developed infrastructure contribute to comfortable living, as well as a simplified process for obtaining a residence permit.
- Additional Expenses: When buying property, it is necessary to consider not only the cost of the property but also additional expenses: taxes, utility payments, and formalization fees.
Conclusion
A comparative analysis of the real estate market in Spain and other European countries shows that Spain remains one of the most attractive options for buying a home, both for personal residence and investment. More affordable prices, a favorable area-to-price ratio, ease of transaction formalization, and a pleasant climate create a strong foundation for choosing this country.
However, the final decision should be based on the individual needs of the buyer – whether the desire is to invest, change residence, or combine both options. It is recommended to thoroughly study the local market, analyze additional expenses, and pay attention to the legal aspects of the transaction formalization. This comprehensive approach will help avoid potential risks and ensure a successful property acquisition in Europe.
