Best Cities for Property Investment in Spain in 2024

Spain remains one of the most attractive investment destinations in Europe due to its favorable climate, rich cultural heritage, and steady economic growth. In 2024, several Spanish cities stand out as particularly promising for capital investment. Let’s take a closer look at them.

1. Madrid

Madrid, the capital of Spain, traditionally serves as the country’s business and cultural hub. In 2024, the city continues to attract investors thanks to its steady economic growth, developed infrastructure, and high employment rates. Madrid offers a wide range of investment opportunities in real estate, including both commercial and residential properties. Districts such as Chamberí and Salamanca are especially popular among investors due to their prestige and excellent transportation accessibility.

In 2024, the average price per square meter in Madrid is about €3,850. Prices vary depending on the district:

• Central areas (Chamberí, Salamanca): €4,500 – €5,500/m².
• Northern areas (San Blas, Leganés): €3,200 – €3,800/m².
• Southern areas (Usera, Vallecas): €2,800 – €3,200/m².

2. Barcelona

Barcelona, Spain’s second-largest city, is known for its innovative spirit and high quality of life. The city actively develops the technology sector, attracting startups and major international players. Investing in Barcelona is profitable due to the diversity of the real estate market: from luxury apartments in Eixample to commercial spaces in Poblenou. In 2024, further real estate price growth is expected, making investments in Barcelona particularly promising.

The average price per square meter in Barcelona in 2024 is about €4,100. Breakdown by districts:

• Central areas (Eixample, Gothic Quarter): €5,000 – €6,000/m².
• Coastal areas (Barceloneta, Port Olímpic): €4,200 – €4,800/m².
• Surrounding areas (Sants, Sant Andreu): €3,500 – €4,000/m².

3. Valencia

Valencia, located on the Mediterranean coast, is becoming increasingly popular among investors due to its strategic location and dynamic development. The city offers excellent living and business conditions, attracting both local and international investors. Valencia actively develops the tourism, logistics, and technology sectors. Investment in real estate, especially in the city center and along the coast, promises significant capital growth in the coming years.

In Valencia in 2024, the average price per square meter is about €2,800. Prices by districts:

• Central areas (La Xerea, El Carmen): €3,200 – €3,800/m².
• Suburban areas (Alberic, La Canyada): €2,200 – €2,600/m².
• Coastal areas (Malvarrosa, Patraix): €2,800 – €3,200/m².

4. Seville

Seville, with its rich cultural heritage, is enhancing its appeal through tourism and cultural projects. This city presents lucrative opportunities in the hotel and commercial real estate sectors, alongside steady residential growth.

• Average Price: €2,600/m²
• Central Areas: €3,000 – €3,500/m²
• Southern Areas: €2,400 – €2,800/m²
• Surrounding Areas: €2,000 – €2,400/m²

5. Malaga

Malaga, located on the Costa del Sol, is known for its mild climate and developed infrastructure. The city actively attracts tourists and expatriates, creating high demand for rental properties. In recent years, Malaga has also developed as a tech hub, attracting companies and professionals from around the world. Investments in residential and commercial real estate in Malaga promise high returns due to rising prices and steady demand.

In Malaga, the average price per square meter in 2024 is about €2,700. Prices by districts:

• Central areas (El Palo, La Malagueta): €3,000 – €3,500/m².
• Coastal areas (Costa del Sol, Pedregalejo): €2,800 – €3,200/m².
• Surrounding areas (Torremolinos, Benalmadena): €2,200 – €2,600/m².

6. Bilbao

Bilbao, located in the Basque Country, is an interesting destination for investors thanks to its unique combination of cultural heritage and modern technologies. The city actively develops the tourism and gastronomy industries, creating new opportunities for investment in commercial real estate. The residential sector also shows steady growth, especially in central areas and along the waterfront. In 2024, Bilbao promises to become one of the most promising cities for capital investment.

The average price per square meter in Bilbao in 2024 is about €3,000. Prices by districts:

• Central areas (Abando, Casco Viejo): €3,500 – €4,200/m².
• Surrounding areas (Barakaldo, Getxo): €2,500 – €3,000/m².
• Coastal areas (Portuondo): €2,800 – €3,200/m².

7. Palma de Mallorca

Palma de Mallorca, the capital of the Balearic Islands, attracts investors with its favorable climate and developed tourist infrastructure. The city offers a wide range of opportunities for capital investment, including luxury real estate, the hotel business, and commercial projects. In 2024, Palma de Mallorca will continue to develop the tourism sector, creating additional opportunities for investors.

The average price per square meter in Palma de Mallorca in 2024 is about €3,200. Prices by districts:

• Central areas (El Soho, Playa de Palma): €3,500 – €4,000/m².
• Coastal areas (Molinar, Cala Major): €3,200 – €3,700/m².
• Surrounding areas (Palma-Son Ferrer): €2,800 – €3,200/m².

Average Prices per Square Meter in These Cities

As of 2024, average prices per square meter in various Spanish cities vary depending on the area and type of property. Here are the current data on average prices per square meter in Madrid, Barcelona, Valencia, Seville, Malaga, Bilbao, and Palma de Mallorca.

Table of Average Prices per Square Meter in 2024

Conclusion

Spain remains one of the most attractive countries for investment in Europe, offering a wide range of opportunities for capital investment in various economic sectors. Madrid, Barcelona, Valencia, Seville, Malaga, Bilbao, and Palma de Mallorca stand out as the most promising cities for investment in 2024. The diversity of real estate markets and high growth potential make these cities particularly interesting for investors seeking long-term profitability and stability.

Real estate prices in Spain continue to rise, and the choice of city for investment depends on your goals and budget. Madrid and Barcelona offer the highest prices, but the investment opportunities here are very diverse.

While Valencia and Seville are excellent options for those looking for more affordable prices with good growth prospects. Malaga and Palma de Mallorca provide excellent options for coastal property investment, while Bilbao may be of interest to those looking for opportunities in the Basque Country.

This data will help you make an informed decision when choosing a city to invest in Spain in 2024.Seville, with its rich cultural heritage, is enhancing its appeal through tourism and cultural projects. This city presents lucrative opportunities in the hotel and commercial real estate sectors, alongside steady residential growth.