The cheapest places to buy property in Spain

Spain is a sought-after destination for property buyers worldwide, renowned for its beautiful landscapes, rich culture, and pleasant climate. Whether you're searching for a holiday home, an investment opportunity, or a permanent residence, the Spanish property market offers a variety of affordable options. This article explores the cheapest places to buy property, highlighting coastal areas, towns, and regions where you can find excellent value for your money.

Key considerations when buying cheap property in Spain

When searching for affordable property in Spain, consider these factors to ensure a wise investment:

• Location: Proximity to amenities, transport links, and the overall appeal of the area are crucial. Ensure the location meets your lifestyle needs and offers potential for future growth.
• Property condition: Affordable properties may require renovation, so include these costs in your budget. Conduct thorough inspections to avoid unexpected expenses.
• Legal aspects: Ensure the property has all necessary legal documentation and is free from outstanding debts or legal issues. Engage a local lawyer to navigate the legal complexities.
• Market trends: Research local property market trends to understand potential future value and rental income opportunities. Stay informed about regional economic developments and infrastructure projects that could affect property values.

Check our articles, useful information, and guides on Buying in Spain. 

The most affordable regions to buy property in Spain

Despite recent increases, house prices in Spain remain below the European average, offering numerous opportunities for buyers. Prices vary significantly due to increasing demand. According to the Spanish Ministry of Transport and Sustainable Mobility, the most affordable regions in the first quarter of 2024 are in central Spain, excluding Madrid. Extremadura leads with the lowest prices, followed by Castile-La Mancha and Castile and Leon. Murcia offers the most attractive prices among coastal areas.

Inland areas of Spain, particularly the "Meseta", have the lowest average property prices per square metre. Provinces such as Jaen in inland Andalusia, Teruel in Aragon, and Ourense and Lugo in Galicia also rank among the most affordable destinations for property buyers.

Consider that there are many interesting places to be found outside these regions, throughout much of the country. For example, the Valencian coast and Asturias offer attractive opportunities. Below, we explore some of these locations and what makes them special.

Budget-friendly seaside areas in Spain

The appeal of affordable coastal properties in Spain is undeniable, with around 8,000 kilometres of coastline offering a vast property market. If you're looking for a seaside home, whether for residence or rental investment, some areas are particularly worth considering. These areas offer attractive locations, comprehensive services, good connectivity, and affordable prices.

Costa del Azahar

Costa del Azahar in Castellon, is one of Spain's most budget-friendly coastal areas, featuring stunning beaches, charming towns, and a relaxed lifestyle at a lower cost than popular destinations like Costa del Sol or Costa Brava. It offers a mix of traditional Spanish culture and modern amenities, making it an appealing option for property buyers.

Less crowded than other coastal regions, Costa del Azahar provides a peaceful environment with picturesque landscapes and pleasant aromas from its famous orange groves. The less commercialised beaches offer a more authentic Spanish experience, and the lower cost of living makes it attractive for retirees and families alike.

Costa de Almería

Costa de Almería, in southeastern Spain within the province of Almería, is a prime destination for those seeking an affordable yet beautiful coastal region to invest in property. This area is celebrated for its stunning natural landscapes, tranquil beaches, and charming towns, offering a peaceful environment for residents and visitors alike.

The region boasts some of the most pristine and less commercialised beaches in Spain, along with diverse and unique natural landscapes. Highlights include the Cabo de Gata-Níjar Natural Park, a volcanic area with rich flora and fauna, and the Tabernas Desert, mainland Europe's only true desert, which has served as the backdrop for many films.

Costa Dorada

Located in Tarragona, Costa Dorada is known for its golden sandy beaches, historic towns, and family-friendly atmosphere. The region features beautiful beaches such as Playa Larga and Cala Fonda, and the city of Tarragona boasts well-preserved Roman ruins with UNESCO World Heritage status. Property prices are more reasonable here compared to more famous coastal regions like Costa Brava, making it an appealing option for those seeking value for money.

The Costa Dorada benefits from excellent infrastructure and accessibility, with road, rail, and air connections, including flights from Reus Airport to various European destinations. Its mild Mediterranean climate, with warm summers and mild winters, further enhances its appeal as a year-round destination for both permanent residents and holiday homeowners.

Torrevieja's unique climate

Torrevieja on the Costa Blanca in Alicante, is an excellent option, boasting a vibrant expat community, top-notch amenities, and affordable housing. With relatively low property prices, it is ideal for enjoying the Mediterranean lifestyle on a budget.

Known for its salt lakes, Torrevieja has a unique microclimate beneficial for health. The town offers various recreational activities, including water sports, golf, and a lively nightlife. Local markets and shops provide all necessities, and healthcare facilities are top-rated.

Gandía and its coastline

Located in the province of Valencia, Gandía is an excellent destination for property buyers seeking affordability and a high quality of life. This region boasts beautiful beaches, a rich cultural heritage, and a relaxed lifestyle.

Gandía's picturesque landscapes are highlighted by lush orange groves and a scenic coastline. The cost of living is lower than in more tourist-heavy regions, making it an attractive option for those looking to stretch their budget without compromising on quality.

The appealing Mazarrón

Mazarrón, in the province of Murcia, is one of the most budget-friendly coastal areas in Spain. The Costa Cálida, where Mazarrón is situated, is less crowded than other coastal regions. The province’s unspoiled beaches and beautiful landscapes provide an authentic Spanish experience away from more crowded areas.  

Galicia's tranquil lifestyle

Galicia features beautiful coastal and countryside properties at competitive prices. Known for its seafood cuisine and traditional music, Galicia attracts those seeking a tranquil lifestyle. The region boasts lush green landscapes and rugged coastlines, perfect for outdoor activities like hiking and fishing. Its historic cities, such as Santiago de Compostela and A Coruña, offer a blend of cultural heritage and modern amenities. Additionally, the local festivals and vibrant traditions provide a unique and enriching experience for residents and visitors alike. Property prices in Galicia average around €1,100 per square metre. 

Budget-friendly inland areas in Spain

While coastal areas are desirable, some of Spain's cheapest properties are found inland, particularly in Extremadura, Castile-La Mancha, and Aragon, which offer rich historical heritage and diverse environments for nature lovers. Beyond these regions, it is worth considering several interior cities that provide excellent service and affordable property prices, making it easy to find a well-priced property that meets your expectations. The prices below are those published by the Ministry of Transport for the first quarter of 2024.

Discovering Teruel

Teruel, in Aragón, is one of Spain's most affordable areas for property. Known for its Mudejar architecture, rich cultural heritage, and stunning natural scenery, it offers low property prices. The surrounding countryside is ideal for outdoor activities like hiking and cycling, and the town hosts numerous cultural festivals year round.

• Property prices in Teruel average around €820 per square metre.

The historic Leon

Leon, in Castile and Leon, boasts a rich cultural heritage and stunning architecture, including the Leon Cathedral and Basilica of San Isidoro. Known for its Gothic and Romanesque styles, it offers well-preserved historical sites. The surrounding landscapes are ideal for outdoor enthusiasts, and the city has a vibrant cultural scene.

• Housing prices in Leon are very low, averaging around €900 per square metre. 

Ourense, the inland Galicia

Ourense, in Galicia, offers a rich cultural heritage, beautiful landscapes, and low property prices. Known for its hot springs and Roman architecture, it features unique historical and cultural attractions. Surrounded by lush countryside, it is perfect for outdoor activities like hiking and cycling.

• Housing prices in Ourense are around €930 per square metre.

Jaén's Olive Groves and Historical Sites

Jaén, in Andalusia, is renowned for its olive groves and historical landmarks. The city is home to the impressive Jaén Cathedral and the ancient Arab Baths, offering a blend of cultural and natural beauty. Surrounded by the Sierra de Cazorla Natural Park, Jaén is ideal for outdoor activities and enjoying the Andalusian countryside.

• Property prices in Jaén average below €800 per square metre, making it an affordable option for buyers.

Ideal locations for buying a holiday home in Spain

When considering where to buy a holiday home in Spain, affordability and lifestyle are key.

Alicante

Alicante on the Costa Blanca offers affordability and lifestyle, known for its lively atmosphere, beautiful beaches, and historical sites. With competitive property prices around €1,500 per square metre, it’s an attractive choice for buyers. Alicante features a charming old town, modern amenities, a historic castle, a bustling marina, excellent connectivity via its international airport, and various educational and healthcare facilities.

Asturias

In northern Spain, Asturias combines natural beauty with modern conveniences. Renowned for lush landscapes, stunning coastlines, and charming villages, it’s perfect for nature lovers. Property prices average €1,350 per square metre. Asturias Airport provides easy access for visitors and residents.

Costa de la Luz

Situated between the coasts of Cadiz to Huelva known for its golden sandy beaches and clear Atlantic waters, Costa de la Luz offers a serene coastal lifestyle. Excellent transport links include nearby international airports in Seville and Jerez, making it a promising investment opportunity.

Murcia

Murcia, located in southeastern Spain, offers a warm climate, beautiful coastline, and affordable property prices averaging around €1,100 per square metre. The region features stunning beaches along the Mar Menor and Mediterranean Sea, diverse landscapes, and a rich cultural heritage with attractions like the baroque cathedral in Murcia city and the Roman Theatre in Cartagena. Known for its excellent seafood and wine, Murcia also provides good investment opportunities due to its increasing popularity and accessibility via the Región de Murcia International Airport.

Additional tips for property buyers in Spain

• Climate Considerations: Spain's climate varies by region. Coastal areas offer milder winters and cooler summers, while inland regions can have more extreme temperatures. Decide if you prefer the Mediterranean climate of the coast or the continental climate inland.
• Community and Lifestyle: Engage with local communities to understand the lifestyle and amenities. Participating in local events and activities can help you integrate smoothly into your new environment.
• Healthcare and Education: Evaluate the availability of healthcare facilities and schools, especially if moving with family. Proximity to quality healthcare and educational institutions is crucial for a positive living experience.
• Language: Learning some Spanish can enhance your experience and integration. While many regions have English-speaking communities, understanding the local language can help you navigate daily life and build stronger connections with the locals.

In conclusion, if you're looking to buy affordable property in Spain, these regions and towns offer some of the best deals. Careful research can help you find a property that suits your needs, allowing you to enjoy everything Spain has to offer, from a holiday home by the sea to a permanent residence in a charming town.