Insider Insights: Moving to Spain from the US – Tips and Advice from an American Expat

Award-winning Fine & Country Costa Blanca North is dedicated to providing exceptional service to high-net-worth individuals and affluent clients from the USA interested in buying property in Spain.

According to a recent report commissioned by Bermuda-based insurance company Hiscox, Spain ranks as the fourth most desirable country worldwide for luxury home investments.

According to the SPAIN Real Estate Registry (ERI) Statistics for the first quarter of 2023, the average property value in Spain rose by 6.3% in Q1 2023 Therefore it comes as no surprise that the average house prices in Spain continue to rise, especially in big cities and coastal areas, indicating strong demand for housing with a quarterly increase of 7.2% and a total of 161,024 sales.

The Comunitat Valenciana (Valencian Community) had the second highest number of sales, accounting for 16.09% of properties sold in Spain, respectively, which equates to 1 in 6.

It is also worth noting that Valencia is a province with one of the highest price increases year-on-year from a provincial level at 10% standing ahead of other provinces.

With regards to American buyers in a recent article in the Wall Street Journal Americans are buying homes in Spain more than ever before. The strength of the dollar, an increase in direct flights and an appetite for the ‘Spanish way of life’ have driven more U.S. buyers to the country’s real-estate market. According to one of Spain´s leading property portals the fact that the number of US buyers in Spain has increased by over 25% in the last year alone demonstrates the growing interest and demand for Spanish real estate among American investors with no signs of slowing down.

The increase in American buyers in Spain is a positive sign for the country’s property market, as it demonstrates foreign investors’ confidence in Spain’s economy and real estate sector.

Fine & Country Costa Blanca North specialises in the marketing and sale of luxury and lifestyle properties, and here are some of their fabulous coastal and inland available listings that is a must to check out:

Villa for sale with 6 bedrooms, Moraira

Hotel for sale with 13 bedrooms, Tarbena

Villa for sale with 10 bedrooms, Denia

Villa for sale with 5 bedrooms, Javea

To ensure that clients have access to the best possible insights, we spoke with Scott Holloway, an American who has lived in Toronto and Paris, travelled extensively throughout Europe, and recently purchased a property in the Costa Blanca North, Spain. As the new International Client Liaison Manager for American and Canadian clients at Fine & Country Spain, Scott brings a wealth of expertise on the benefits of living in Spain as a US expat, the costs of living, obtaining Spanish residency, and buying property in Spain.

Luxury Lifestyle Awards: Can you tell us about your experience living in Spain and what drew you to the Costa Blanca North area?

Scott: Spain in general and Costa Blanca North attracted us for a number of reasons, such as the amazing scenery, the combination of beautiful beaches, rugged coastline, and mountains. The combination and variety are simply the best.  Additionally, the proximity to 2 major airports allowing for easy connections to North America and all of Europe was another major factor.

LLA: What do you see as the key benefits of living in Spain as a US expat?

Scott: Spain provides a slightly different lifestyle to North America.  We have all of the conveniences of home with a slower more relaxed pace.  We have the legal protections of a developed legal system and the protection of being part of the EU.  Obviously, the abundance of sunshine, the warm waters of the Mediterranean and gentle, kind nature of the Spanish people were also important.

LLA: How do the living costs in Spain compare to those in the US, and what can expats expect in terms of expenses?

Scott: Housing prices are similar to comparable homes in most of North America.  The quality of build was much better than other places we considered in Europe.  Everyday cost of living is more affordable than North America. Restaurants of very high quality are also much more affordable.  For example, a couple can have an outstanding dinner including a bottle of wine, in one of Costa Blanca Norths many restaurants for under $100.

LLA: What are some tips you have for US expats who are considering buying property in Spain?

Scott: First, engage a knowledgeable agent, as we did as Chris the owner of Fine & Country Costa Blanca North has over 20 years estate agency experience here.  Then spend enough time in the area to familiarize yourself before making a purchase.  Costa Blanca North has residents from many parts of the world.  While Spanish is the spoken language, we have found that most people also speak English.

LLA: Can you discuss the current real estate market in Spain and how it may impact US buyers?

Scott: Spain offers a safe investment opportunity.  While prices can fluctuate in any market, we were comfortable that our investment would be safe.  Spain is attractive to people from all over the world.  Our neighbors are from Spain, Germany, Belgium, France, Greece and the USA.

LLA: What types of properties are most popular among US expats in Spain?

Scott: I think the most popular option are mid-size villas.  There are also apartments/condominiums.  We wanted our own “outside space”.  I think most buyers will also appreciate this.  The lifestyle in Costa Blanca North is outside.

LLA: How does Fine & Country assist US expats in the buying process and beyond, such as with property management and other services?

Scott: We found the team at Fine & Country to be outstanding.  The professionalism, knowledge and attention to detail were what made us happy with our decision to engage them to represent us.   They were able to provide us with unbiased opinions on valuations, areas of interest.  They also assisted in locating a reputable English-speaking attorney providing a panel of lawyers. We do not intend to rent or lease our property; however, the team also provides this service.  I would be confident they would be able to provide outstanding property management if we need it.

LLA: What do you think sets Fine & Country apart in terms of its approach to helping Americans buy property in Spain?

Scott: I would summarize in three words: Credibility, Integrity, and Knowledge. 

For more information, visit https://www.fineandcountry.es/en/costa-blanca-north-estate-agents