Chic apartments are everywhere in Spain as people are looking to settle down, maybe take a vacation, or are simply passing through. The classy interiors and state-of-the-art apartment buildings with reliable security and structure.
The increasing population density in Spain is evident in cities like Madrid and Barcelona as economic growth boomed in major cities. Therefore, several real estate developers are investing in apartment buildings which is a cost-efficient way of providing quality housing while maximizing the available space in the area. As a result, these developers are creating a one-of-a-kind building with apartments that will not only captivate buyers but also increase the quality of life in the area.
What Makes Investing in an Apartment Worth It?
Apart from taking a leap of faith and moving to a new place or country, investing is not something that can be done spontaneously. There’s a lot to consider when investing in anything. Spanish property for sale could either lead to additional income or a place to come home to. Should a buyer invest in a house, villa, apartment, or plot of land?
Apartments are generally the go-to investment for young individuals as well as people who would want the added income of renting the place. Likewise, apartments hold a significant value as a good number of apartment complexes are located near the city centers or a cultured space that boosts a person’s quality of life.
Apartments are also much more affordable to invest in given the following reasons:
Apartment complexes provide security that will ensure the safety of their residents.
There is a sense of belonging and community amongst the residences of a building.
If the owner ever decides to move out and rent the apartment, there will always be someone looking for an affordable place to live in.
Apartments, generally, are more cost-efficient than other real estate properties.
Apartment vs. Houses
Now, let’s dive into a more intriguing question, whether a buyer should go for a house or an apartment.
So, what makes an apartment for sale in Spain a worthwhile investment?
Here are a couple of advantages of having an apartment:
1. Solid Community
Living in a place where the hustle and bustle of neighbors are present, residents are sure to form a bond . Likewise, a strong bond is something that Spaniards are familiar with, they also crave the sense of belongingness. The warmth of Spaniards extends to their foreign neighbors. This is appealing to the large expat community in the country.
Taking full advantage of the building complex, tons of amenities are usually available to residents like a pool, gym, spa, and children’s playground among others.
Apartment complexes all have their own security protocols to ensure the safety of each and every resident. Aside from having security guards at the entrances, there are also CCTVs active to record any suspicious activity. This perk seals the deal for most people since everyone does take their safety seriously.
This one is for both home buyers and potential renters, having the right budget is fatal in any investment anyway. For buyers, investing in an apartment is not only practical but also ideal as rental income goes, there will always be potential renters of apartments in key locations. Especially, since there are thousands of Apartments for sale Spain.
5. Space Efficient for a Single Individual or a Couple
Ideally, an apartment is perfect for an individual or a couple since the place is low maintenance.
Now, let’s discuss the advantages of a house:
Freedom – Homeowners are free to do as they like. There are absolutely no restrictions when it comes to renovations.
Privacy – Having your own house ensures that you are entitled to your own privacy. Residents won’t be bothered by a neighbor that is literally on the other side of the wall.
Land Value – A house built or newly constructed on a plot of land has an infinite value that escalates over time making it an investment for a lifetime.
Living in an Apartment: Yes or No?
Given the information provided above, we can now discuss whether it is ideal for you to live in an apartment. But first, let’s understand that homeowners should prioritize their needs over their wants.
We can define the needs of any apartment buyer as follows:
Make sure that the monthly payment for rent or housing loan or mortgage fits within the financial capabilities.
Ensure that the location of your new apartment is safe. It should also be accessible to basic needs and necessities like hospitals, groceries, pharmacies, the police station, and if lucky, your workplace.
This “need” has a gray area with “want” which may depend on the financial capabilities of the buyer who has the freedom to upgrade from a studio unit to a bigger apartment. In other words, an apartment can be as small as a studio one which can be around, or be a 5 bedroom and 5 bath apartment and still have an individual or a couple living in it. There are many apartments of different sizes that meet certain necessities deemed by the buyer.
Securing a place that offers good security and safety for its residents is a definite must. Residents would always want to feel relaxed and safe within the premises of their homes.
As for the “wants”, there are many extra things we can look for when purchasing an apartment for sale in Spain. A buyer’s wants can range from numerous amenities, spectacular apartment views, balconies that stretch over a distance, and clubhouses among others.
Living in the city center, specifically, there isn’t a lot of space for big houses. Therefore, apartment complexes are the way to go. Residents in these complexes get to indulge in the convenience of living where everything is within their reach. Most of the time, people who decide to reside in an apartment complex are always on the go. They are the type that wants things done fast and immediately.
Checking the Apartment Vibe: Which Spanish City is it?
Let’s start talking about the fun stuff! Living in an apartment seems even more exciting when it’s located at a gorgeous beach or overlooking mountain ranges, or walking past historical monuments. There are several cities in Spain that have apartments for sale and the list of which city is perfect is quite long. Therefore, we’re picking our top 3 cities with the right vibe.
1. Valencia Located right in the middle of the Mediterranean, Valencia offers a little bit of everything. There are crystal clear beaches and a historic center called, “Ciutat Vella”. Additionally, the city is the third-largest city in Spain with numerous parks like the “Turia Garden”. The city is also a good location just 200 miles south of Barcelona and 80 miles north of Alicante making it somehow in the middle of two of the country’s beautiful cities.
2. Màlaga: The historical charm of Màlaga is still very present in the city today with modern touches that make it the perfect home for people who love history and arts. Speaking of arts, the city is also home to Museo Picasso which stores Picasso’s works. The lively social scene in the city has several sidewalk cafes and wine bars fit for any kind of social gathering. Imagine, all of these – beaches, cafes, wine bars, art, history, and warm locals is just heaven.
3. Alicante: A city that sits on the Eastern Mediterranean once again provides a magnificent coastline view for residents and tourists to enjoy. The charismatic city is home to archeological museums, relaxing beach resorts, a castle, and a historical old town named, “Casco Histórico”. This captivating city has a low cost of living with similar benefits to other cities across the Mediterranean coastline.
To summarize, these cities all have their own charms and each of them appeals to a certain group of people which makes Spain a hot spot for apartments for sale, whether it is in Valencia, Màlaga, or Alicante.
Visualize Your Next Apartment with IMMO Abroad
Your next apartment could just be a click away and with IMMO Abroad, we can help you turn your visions into reality. Our dedicated team of experts can help anyone from anywhere find their next home here in Spain. We’re driven by pairing up our clients with their dream space whether this is an apartment, a villa, or a house.