MORE AMERICANS are coming to Spain for longer, whether as digital nomads or simply to retire.
The number of Americans living in Spain grew by 13% from 2019 to 2021, and home sales to Americans jumped 88% from the first half of 2019 to the first half of 2022, according to the General Council of Notaries in Spain.
Among expat groups buying property, Americans paid the second most, after the Danes, coughing up to €2,837 per square metre..
In addition, the home prices that grew the most in the same period were paid by Americans, according to the Notaries report.
American buyers are focusing on urban areas like Madrid — and as with any big city, people are attracted to its job opportunities and amenities, said Alex Ingrim from financial services firm Chase Buchanan.
While Andalusia has always been a popular location for Americans, there’s a ‘strong word of mouth’ for the city of Valencia, with a large expat community, among them many Americans, Ingrim commented.
Spain launched its digital nomad visa earlier this year, making it easier for foreigners to move to and work in the country.
The visa is tailored for ‘international teleworkers’ and applicants must comply with a set of requirements, such as accreditation or professional experience of at least three years.
“Prior to having this visa, it was difficult to work in Spain because the tax rates were so high and there wasn’t a clear-cut immigration regime, other than the ?golden visa’ that allowed you to move to Spain and work,” said Alex Ingrim.