Could You Afford a Vacation Home in Spain? Here Are the Prices in 10 Cities

Owning a vacation home of any kind these days is generally regarded as something mostly, or perhaps even only, in the province of the wealthy. About one-third of Americans don’t own their primary home, and every day it seems like more and more people are getting priced out of owning a home, especially in more expensive states like California and New York. Put that vacation home in a foreign country, especially in a tourist destination, and it sounds out of reach for just about any normal person.

Read Next: ​ChatGPT Unveils: 5 Worst Cities To Buy a House in 2024
Explore: How To Get $340 Per Year in Cash Back on Gas and Other Things You Already Buy

However, technology has made owning a second home a little more realistic, even for those who aren’t rich. Vacation rental platforms in countries like Spain have made it far easier for owners to rent out their unoccupied second home, which can significantly defray the costs of ownership. 

Could you afford a vacation home in Spain? Like anywhere else, the answer will depend on what you want to buy and where you’re buying it. An apartment in a trendy neighborhood of Barcelona could easily cost over $1 million, but there are much more affordable cities where a home might cost a few hundred thousand dollars. One important note – apartments are more common in Spain, particularly in cities, where standalone houses are normally only found far away from the city center. This means that in many Spanish cities the average price of a house will be lower than the average price of an apartment.

These prices will be listed as price per square foot. For some context, the average price per square foot in the US is over $400 in expensive states like Hawaii, California, and New York, while in the least expensive states like Ohio and West Virginia the average price per square foot is under $150.

Starting with the highest, here are the median prices of apartments and houses in 10 Spanish cities, according to Properstar.

1. San Sebastián

Median price per square foot: $613 for an apartment (€6,192/m²), $432 for a house (€4,364/m²) 

Located in the Basque Country along the northern coast of Spain, San Sebastián is famous for its picturesque beaches, world-class cuisine and dynamic cultural scene. It’s a food lover’s paradise, with countless Michelin-starred restaurants and pintxos bars serving gourmet Basque cuisine.

2. Ibiza

Median price per square foot: $599 for an apartment (€6,053/m²), $1,024 for a house (€10,347/m²) 

Ibiza is a legendary party island in the Balearic archipelago, known for its energetic nightlife, striking beaches and bohemian atmosphere. However, it’s not just for partying; Ibiza also offers tranquil villages, hidden coves and beautiful natural landscapes perfect for relaxation and exploration.

3. Madrid

Median price per square foot: $460 for an apartment (€4,952/m²), $372 for a house (€3,754/m²)

As the capital and largest city of Spain, Madrid is a vibrant metropolis known for its rich cultural heritage, world-class museums (including the Prado and Reina Sofía), elegant boulevards and lively nightlife. It’s also a hub for gastronomy, with countless tapas bars and restaurants serving traditional Spanish cuisine.

4. Barcelona

Median price per square foot: $448 for an apartment (€4,528/m²), $421 for a house (€4,249/m²)

Barcelona is the capital of Catalonia and renowned for its unique architecture, including the iconic Sagrada Família and Park Güell, designed by Antoni Gaudí. It boasts a Mediterranean climate, beautiful beaches along the Costa Brava, and a bustling atmosphere filled with street performers, markets and outdoor cafes.

5. Palma

Median price per square foot: $391 for an apartment (€3,952/m²), $445 for a house (€4,494/m²) 

As the capital of the Balearic Islands, Palma, or Palma de Mallorca, is known for its mesmerizing beaches, crystal-clear waters and historic landmarks like the imposing La Seu Cathedral. It offers a perfect blend of cultural experiences, outdoor activities and Mediterranean charm.

6. Malaga

Median price per square foot: $338 for an apartment (€3,410/m²), $315 for a house (€3,184/m²)

Situated in the heart of the Costa del Sol, Malaga is a coastal city known for its sunny weather, magnificent beaches and profound cultural heritage. It’s home to the birthplace of Pablo Picasso, as well as historic landmarks like the Alcazaba fortress and Gibralfaro Castle.

7. Valencia

Median price per square foot: $267 for an apartment (€2,699/m²), $165 for a house (€1,663/m²)

Located on the eastern coast of Spain, Valencia is known for its futuristic City of Arts and Sciences complex, stunning beaches and bustling festivals, including the famous Fallas celebration. It’s also famous for its cuisine, particularly paella, and boasts a charming historic center with medieval architecture.

8. Seville

Median price per square foot: $240 for an apartment (€2,428/m²), $193 for a house (€1,946/m²)

Seville, the capital of Andalusia, is famous for its Moorish architecture, lively flamenco scene and historic landmarks such as the Alcázar palace complex and the Gothic Seville Cathedral. The city’s winding streets are filled with tapas bars, orange trees and vibrant markets.

9. Granada

Median price per square foot: $226 for an apartment (€2,280/m²), $227 for a house (€2,294/m²) 

Nestled at the foot of the Sierra Nevada mountains, Granada is famed for its Moorish architecture, including the breathtaking Alhambra palace and Generalife gardens. It’s a city rich in history, culture and cuisine, with narrow winding streets and exquisite views of the surrounding mountains.

10. Alicante

Median price per square foot: $224 for an apartment (€2,258/m²), $245 for a house (€2,478/m²) 

Alicante is a coastal city on the Costa Blanca known for its scenic beaches, picturesque old town and historic castle overlooking the city. It offers a relaxed Mediterranean lifestyle with plenty of opportunities for water sports, shopping and dining.

More From GOBankingRates

This article originally appeared on GOBankingRates.com: Could You Afford a Vacation Home in Spain? Here Are the Prices in 10 Cities

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

More Related Articles

Info icon

This data feed is not available at this time.

Sign up for the TradeTalks newsletter to receive your weekly dose of trading news, trends and education. Delivered Wednesdays.