Why Americans are snapping up property in Spain

Spanish villas cost about one-third of what you’d pay for a house in the US—leaving plenty of cash left over for flights and tapas once you land. Here’s more on why Americans are snapping up homes in Spain from Daria Kulachek at Inside Job Concierge.

How she got started: “Our first home purchase was a three-bedroom in Alicante for €98.5k (about $114k), which we rent out for €850 ($988) per month,” says Kulachek, who has been buying and advising in Spanish real estate deals for three years. “I recently helped an American investor purchase a three-bedroom apartment in Alicante for €115,000 ($134,000). The property now rents for €850 ($1,000) per month, a gross yield of roughly 8.7%.”

The pros: “Americans are now the top foreign buyers in several Spanish regions because Spain offers price points and value that don’t exist in comparable European cities,” Kulachek says. Financing is available to nonresidents at 2% to 3% interest rates, almost the inflation rate, although nonresidents will need a bigger down payment, covering 30% to 40% of the cost. “The lifestyle factor matters, too,” Kulachek says. “Most of my clients want an asset they might want to spend time in at some point.”

The cons: Spain’s Golden Visa program ended in April 2025, and a proposed 100% property tax on non-EU buyers is currently under debate. The slower Spanish pace may be refreshing, but not if you’re looking to close quickly or get renovations rolling. “The cons are logistical: Properties need to be visited and managed, and remote construction can quickly turn into a disaster if you don’t have a local representative,” Kulachek warns.

Her advice: Get help. “None of these challenges are insurmountable, but [the system] rewards people who have done it before or have guidance,” says Kulachek, who founded Inside Job Concierge to help investors navigate the process.

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