Real Estate Investment in Spain: A Bright Future for Americans with Veiranda

Real Estate Investment in Spain A Bright Future for Americans with VeirandaPhoto byistockphoto

With rising property prices in the United States, many investors are finding it hard to buy a second home. As a result, more people are looking at the Spanish market. Spain offers many advantages, and companies like Veiranda are there to help U.S. citizens invest in real estate. Spain provides numerous opportunities for those looking to invest at a bargain price while also getting impressive returns and residency.

Why Americans Love Madrid's Real Estate

Spain has become a favorite for American real estate investors, especially cities like Madrid, Barcelona, and the Costa Brava and Blanca. According to the Foreign Investment Registry of the Secretary of State for Commerce, foreign investment in Spain hit $30.472 billion last year, with Americans contributing 28.9% of that.

The General Council of Notaries reports that Americans bought 1,339 homes in Spain in the first half of 2023. This is a 13.6% increase from the previous year. To put this in perspective, only 192 Spanish properties were sold to Americans in the first half of 2007.

Spain's Golden Visa program has also attracted American investors. This program offers residency to those who invest 500,000 euros in Spanish real estate, making it easier for Americans to live or spend extended periods in Spain.

Where to Invest: A Look at Spanish Cities

1.        Madrid: Madrid ranks among the top six European cities for real estate investment in 2024. The average price per square meter is $4,729. In central districts, prices exceed $6,000, while in the outskirts, it drops to about $2,160. The average rental yield in Madrid is 5.2%, a high figure for a European capital.

Madrid is a major business hub, home to many multinational companies and 317,000 students, creating a high demand for housing. The city also saw 10.6 million tourists in 2023, a 32.5% increase from 2019.

2.        Barcelona: In Barcelona, the average price per square meter is $4,421, with a rental yield of 5.9%. The city has over 1.6 million residents and a metropolitan population of 4.8 million. Barcelona is a top destination for foreign tourists and hosts many company headquarters and digital nomads. With 180,000 students, shared housing is a lucrative investment.

3.        Valencia: Valencia, Spain's third-largest city, has an average price per square meter of $2,600 and a yield of 5.8%, reaching over 8% in some neighborhoods. Voted the best city for expats, Valencia is known for its food, weather, and trendy neighborhoods, making it a top investment choice.

Veiranda: Making Real Estate Investment Easy

If for the bulk of individuals, the issue appears to be barriers related to language or perhaps just administrative hassles, there's Veiranda—an agency specialized in making real estate purchases in Spain—to handle each stage of Americans investment projects with a "turnkey" service that is totally customized to its client's tastes.

"When I invested in Madrid a few years back, I quickly noticed significant differences between the real estate markets in France and Spain, especially when it comes to purchasing a house or apartment. That’s why I decided to create Veiranda, a real estate agency tailored for English-speaking clients. Our goal is to streamline the entire process—from property search to handling all legal and regulatory steps—so that everything is managed under one roof," explained Ronan Delerue, the founder of Veiranda.

For those looking to buy property, Veiranda handles everything. "Our attorney thoroughly reviews and certifies all the property details before the notary appointment, ensuring that every aspect is verified and approved. We also provide fully translated legal documents in American English to eliminate any language barriers," he added. "Moreover, we assist our clients in setting up a bank account in Spain, which is essential for managing utilities like water and electricity. We don't stop there—after the purchase, we connect new homeowners with reliable craftsmen for renovation work at preferential rates," said Ronan Delerue.