Why Americans Buy Homes In Spain? Cost of Living Comparison
In recent years, more Americans have chosen to buy homes in Spain. Real Estate Agents have reported an increase of 22%, which is incredible, so why are more Americans choosing to find villas for sale in Spain?
Exchange rates
The American dollar has become stronger against the euro, so property for sale in Spain is now more affordable for Americans. Although Spanish Real Estate prices have increased, property costs are still lower than in many parts of the USA because of the good exchange rate.
Lifestyle
Many Americans find Spain’s historical roots, warm climate, beautiful countryside, and excellent beaches alluring. The pace of life is generally slower and less stressful than in many areas of the USA. Buying a villa in Spain has become more appealing to many foreigners. With a constantly growing expat community, fitting in and enjoying a new life in Spain has also become easier.
Affordable
The thing is, Spain is usually less expensive than in the US, including groceries, utilities, transport, and healthcare. This is an excellent reason for Americans to look for a bungalow for sale in Spain. In general, the living expenses in Spain, outside of the major cities of Barcelona and Madrid, are likely to save US citizens 30–40% compared to the cost of living in America.
Tax advantages
Spain is anxious to keep its current stable economy, and to help with this, it actively encourages Americans and other nationalities to buy villas in Spain by offering non-resident homeowners tax benefits, including a lower rate on rental income. If a property is owned for at least ten years, there is no capital gains tax.
Investment
With the Spanish Real Estate market doing so well now, there is a real incentive to invest in property, with the possibility not just of prices increasing when coming to re-sell the property but also of the popularity of the holiday rental market, which is becoming a trendy way to make a little extra money.
Work opportunities
With a growing economy, Spain has several possibilities for Americans looking for work or hoping to start a business, particularly within the tourist and hospitality areas that are so important to all areas of the country, whether the attraction is a coastal, mountain, or city location. Finding an apartment for sale or a bed and breakfast villa for sale in Spain is inexpensive.
Retirement
Retiring Americans are moving to Spain to enjoy a more relaxed way of life and take advantage of the beautiful Mediterranean weather and diet known to enhance health and well-being. There are many outdoor activities and social groups for them to enjoy, as well as great places to visit on day trips. There are also plenty of suitable, accessible houses for sale in Spain at affordable prices for them to choose from to ensure a comfortable retirement.
History and Tradition
The history and traditions of Spain are also an attraction for the American market, with lots of museums and historical sites to visit, Spanish Festivals providing ongoing, year-round entertainment, and excellent food and wine. In addition, the scenery is beautiful, offering a wide range of outdoor and water activities to enjoy. Americans looking for property for sale in Spain will find a completely new lifestyle and experience to enjoy.
Residency
There are various visa options for Americans, making it reasonably easy to get residency when choosing a home for sale in Spain.
Conclusion
Spain’s popularity with Americans buying a home in Spain reflects the country’s general appeal for affordability, relaxation, warmth, and welcomingness. The slower pace of life and connection to history and nature offer an excellent, different way of living. Hamilton’s of London can provide exceptional service to customers who live further away and is happy to offer live online viewings for those who cannot immediately travel to view villas for sale in Spain.
