The cheapest cities to buy a home in Spain

Spain has many regions for profitable property purchases. But the cheapest places to live are Alicante, Torrevieja, Malaga, Murcia, and other cities listed below. We recommend studying this list first before buying property in Spain and then making your choice.

What Affects the Price of Property in Spain?

The cost of housing in this country depends on many factors. The price is primarily influenced by the area where the property is located. For example, it is much easier to buy an apartment in Spain for under 30,000 euros in Alicante than in Madrid.

Overall, the country’s real estate market is roughly divided into two coasts. Costa Brava has elite luxury properties, while Costa Blanca has more budget-friendly options. Therefore, if you’re looking for affordable real estate in Spain, Costa Blanca is the place to search, as the cheapest options are gathered here.

You can also purchase second-hand property at a lower cost. Prices here start from 90,000 euros — this is how much a studio apartment near the sea costs. For more spacious housing, you’ll need to pay from 120,000 euros, and for a detached bungalow — from 150,000 euros.

Top 7 Cheapest Cities for Property Purchases

We have specially selected the top 7 cities where the cheapest property in Spain is located. Each region has its own unique qualities, but it’s important to consider the details and nuances mentioned below.

Alicante

Alicante is a popular city with many tourists. It is very profitable to invest in property here, which can later be rented out.

The cost of apartments here is much lower than at comparable resorts. The exact price depends on the distance from the sea. Properties near the beach start at 150,000 euros. On the outskirts, you can find a 3-bedroom apartment for 110,000 euros.

Second-hand prices are much lower. For example, a 3-bedroom apartment 10 minutes from the sea costs 30,000 euros. However, it may be unfurnished and in need of renovation, which is important to consider. Similar apartments in the city center cost a bit more — 40,000 euros. Essentially, Alicante offers the cheapest real estate in Spain, but you need to be prepared for the influx of tourists and the noisy environment.

Torrevieja

Torrevieja is a popular tourist center and a great investment option. Properties here are purchased for later rental to visitors. Just remember that during the beach season, this city becomes very crowded and noisy due to the influx of tourists.

A one-bedroom property here starts at 120,000 euros. Two- or three-bedroom apartments near the sea have prices starting at 130,000 euros. A 40 m2 apartment in the city center will cost more — around 170,000 euros.

Malaga

Malaga is one of the most popular tourist cities in southern Spain. Despite this, affordable housing can still be found here, especially in areas outside the city center.

Key advantages of this region:

• pleasant climate year-round;
• international airport;
• good infrastructure;
• developed rental market (ideal for investment).

The average price per square meter in Malaga ranges from 1,500 to 2,000 euros. At this price, you can find housing on the outskirts and in suburban areas. You can also find cheaper apartments by the sea, but they will cost more.

Murcia

Murcia is not the most popular region, so it’s easy to find affordable housing here. It is located in southern Spain, 20 km from the sea. There are fewer tourists, so the city has a peaceful atmosphere.

Main advantages of Murcia:

• beautiful landscapes;
• calm atmosphere;
• very cheap fruits (there are many orchards here);
• well-developed infrastructure.

If you are looking for affordable real estate in Spain, this region is a good option.

Orihuela Costa

Orihuela Costa is a region located on the southern part of Costa Blanca. It is most popular with British, German, and Scandinavian buyers. Despite high demand, it is still possible to purchase affordable real estate in Spain here.

Key features of this region:

• sea and sandy beaches;
• many new residential complexes;
• developed infrastructure for foreigners;
• quiet and peaceful lifestyle.

The average price per square meter in Orihuela Costa ranges from 1,200 to 1,600 euros.

Cartagena

Cartagena is a city with a rich history located on the Mediterranean coast. The prices for real estate here are very low, especially in the old neighborhoods and central parts of the city.

Distinctive features of this region:

• many cultural landmarks;
• infrastructure is modest, but everything necessary is available;
• great for purchasing affordable second-hand properties.

The average price per square meter here is even lower — 900 to 1,300 euros. Therefore, if you’re looking for affordable real estate in Spain, you can find it in this city.

Valencia

Valencia is a major city in Spain with a relaxed lifestyle. Investors are attracted to its beautiful beaches, mild climate, and various entertainment options: festivals, exhibitions, and more. The city also has many restaurants, playgrounds, and green parks. Everything you need for family living.

Property prices in Valencia are about 15-20% lower than in Barcelona. This applies to everything: rent, utilities, transportation, and goods. Valencia has many educational institutions, and school buses run regularly. Various outdoor events are often held here, where you can practice sports or just have fun.

What to Consider When Buying Property

To purchase affordable real estate in Spain without delays, it’s important to consider the following:

1. The legal status of the property. Make sure the property has all the necessary documents and is not encumbered with debts or liens.
2. Additional costs. Add an extra 10-15% of the property’s cost for taxes, notary fees, realtor fees, and legal fees.
3. Regional features. When choosing property, consider the climate, infrastructure, and demand for rental properties.

Also, take advantage of professional assistance. The services of an experienced lawyer and agent familiar with the Spanish real estate market will certainly be useful to help with the transaction.

Conclusion

So, if you’re looking to buy property in Spain at an affordable price, take a look at the properties on Costa Blanca — they are the most cost-effective here. And there are plenty of options. The cheapest apartment in Spain will cost around 35,000-40,000 euros, though there are offers for 100,000 euros or more. It’s important to define the purpose of the purchase (for living, resale, or rental), and then choose the appropriate property on the market.