Surge in North American Investment in Spanish Real Estate
The number of North Americans purchasing property in Spain has surged by an incredible 255% since the pandemic. While they still represent a small fraction of foreign buyers in the country, their increasing presence marks a notable shift in global real estate trends. According to data from the Colegio de Registradores, real estate transactions involving North American buyers jumped from just 620 in 2020 to 2,199 in 2024.
Why Are North Americans Buying Property in Spain?
Several factors have fueled this rapid growth in American investment in Spanish real estate. Spain’s reputation for security, political stability, and a high quality of life makes it an attractive destination for property buyers. Additionally, the strength of the US dollar against the euro has given American investors greater purchasing power, allowing them to secure properties at more competitive prices. Despite global economic fluctuations, Spain’s real estate market has remained relatively stable, reinforcing its appeal as a safe and worthwhile investment.
Beyond financial advantages, Spain’s lifestyle is a major draw. Its high-quality healthcare system, relaxed Mediterranean way of life, and favorable climate are highly appealing to North American buyers. The country’s rich cultural history, dynamic social scene, and strategic European location further enhance its desirability. Compared to major US cities like New York or San Francisco, Spanish real estate offers significantly better value, making property investment even more attractive.
While North American interest in Spanish property has been growing since 2014, it was the post-pandemic period that saw a dramatic surge in purchases. Experts predict this trend will continue, with Madrid, Barcelona, and Valencia emerging as key investment hubs.
The Influence of Latin American Buyers
A significant portion of American buyers in Spain are of Latin American origin, drawn by the promise of better economic conditions and an enhanced quality of life. Many find Spain particularly attractive due to cultural similarities and favorable residency opportunities.
Oscar Larrea, CEO of Evernest Spain, has noted a steady rise in American clients. “Many of these buyers are looking for security, stability, and a high quality of life—things that may be harder to find in their home countries due to political or economic uncertainty,” he said in The Objective. Similarly, Kevin Sears, president of the US-based National Association of Realtors (NAR), remarked in Idealista that Spain’s lifestyle, economic conditions, and investment incentives make its residential real estate market increasingly appealing to US investors.
Marbella: A Luxury Haven for North American Investors
Marbella has emerged as a prime destination for North American property buyers, drawn by its exclusive lifestyle, stunning coastal scenery, and thriving luxury real estate market. Known for its high-end resorts, Michelin-starred restaurants, and world-class golf courses, Marbella offers an unmatched combination of glamour and tranquility, making it particularly appealing to affluent international investors.
The city’s “Golden Mile” and surrounding areas have become hotspots for luxury villas and high-end apartments, with many transactions taking place off-market to maintain exclusivity. Wealthy American and Latin American buyers, including business executives and retirees, are increasingly investing in Marbella’s real estate, attracted by the city’s Mediterranean charm and potential for strong property appreciation.
Marbella is also experiencing a surge in demand for ultra-luxury developments and branded residences, a growing trend among high-net-worth individuals seeking bespoke living experiences. Real estate agencies specializing in premium properties report a notable rise in interest from clients in New York, Miami, and Los Angeles, who view Marbella as both a prestigious retreat and a lucrative investment opportunity.
