The most expensive places for British expats to buy in Spain revealed
Madrid has been crowned one of the most expensive places in Spain to live due to soaring property prices and a wealth of its neighbourhoods demanding a premium.
Brits looking to up sticks and flock to Spain for a life of warmer weather all year round have been warned of the most expensive places to relocate. Spain is among the countries that are always at the top of the list for people willing to settle outside the UK.
Favourable weather alongside a huge expat culture in the holiday-hotspot makes it one of the most popular places for Brits to move, with around 307,000 recorded as living across the country as of 2022. And this number is expected to have grown since.
For anyone looking to weigh up their options, including the cost of buying up a new property, the list of the most expensive places to relocate have been revealed.
Madrid, the capital, has unsurprisingly come out on top as one of the most costly places to move to. The Castellana and Recoletos neighbourhoods command rates of 10,397 euros/m2 (almost £8,888/m2) and 10,141 euros/m2 (£8,669), respectively, making them the two areas with the highest price per square metre in the country, according to news site Diaro Ibiza.
Expats in Recoletos will be close to some of Madrid’s major attractions as well as the city’s international airport.
A five-bedroom apartment in the neighbourhood is currently listed for 3.9 million euros (£3.2million). The historic districts of Palacio, Salamanca, Chamberí, and Los Jerónimos boast spacious, elegant apartments within completely refurbished buildings.
Meanwhile, the El Velerín neighbourhood in Malaga, with 10,068 euros/m2 (£8,607/m2), ranks as the third most expensive.
Consequently, prices in these top neighbourhoods in Spain are four times higher than the national average, which was recorded at 2,215 euros/m2 (£1,893/m2) in January.
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Among the most expensive neighborhoods in the country are also the Madrid neighborhoods of Lista (8,868 euros/m2), Goya (8,341 euros/m2), Almagro (8,070 euros/m2) and Sol (7,867 euros/m2).
They are followed by Área Romántica (7,947 euros/m2), in the center of San Sebastián, and Justicia-Chueca (7,754 euros/m2), in Madrid, which complete the list of the ten most expensive neighborhoods to buy a home in Spain.
The beautiful coastal city of San Sebastian is known for its culinary delights and stunning beaches. San Sebastian is a popular destination with surfers while the La Concha beach is perfect for swimming.