Types of Properties Available in Spain
Spain offers many different styles of properties – from brand new, modern apartments and townhouses to villas, cave homes and old fincas.
Given the vast size of Spain, the variety of different locations and property styles means that there is a home in Spain for every taste and budget.
The latest statistics from the Spanish Land Registry – Registradores – indicates that in the last quarter of 2023 there was a stable, but growing, trend of new built properties being bought by foreigners, but still the market skews towards resale properties with 18.48% of sales being new builds and 81.52% being resale properties (previously owned).
New developments vs. resale properties,
Choosing between buying a property on a new development or a resale in Spain will depend on personal preference, but also on your budget and what you intend using the property for.
In our annual survey of Spain property buyers who downloaded one of our guides, we found that twice as many buyers wanted “cool and modern” than wanted “old and beautiful”.
New developments offer modern facilities and amenities, requiring no further work. Often, if they are still in off-plan stage or have just been completed, they will come with a furniture package included in the purchase price. They are likely to be in a popular location for tourism and, as such, offer easy rental opportunities for holiday home or investment buyers. These days Spanish new builds tend to be of high construction quality, are energy efficient (which is increasingly important) and boast a contemporary design.
Resale properties suggest a more authentically Spanish style within the community. They are often at a lower price than new builds, although you may end up spending extra on renovations.
We’ve listed the types of properties for you to consider below.
Villas
A villa is detached property that offers more outside space. You will find villas in towns and on urbanisations, as well in the countryside or close to beaches. Villas are generally more expensive than townhouses and in the more rural locations will have larger gardens and space around them.
Often a villa will come with its own pool, garden, and terraces, as well as useful things like a double garage (so welcome in the summer) and storage areas.
Villas built on hillsides with sea views will cost more than those with mountain or town views. Extensive gardens can either be a selling point or a drawback, depending on whether you want to spend time maintaining them or paying for gardeners.
Townhouses, quads and village properties
These are very popular types of homes for people buying in Spain. Essentially, they are terraced properties in a town or on an urbanisation. As with any terraced house, the front view doesn’t always tell you how large they are inside, so do look for the size in square metres before committing to a viewing. Some are very spacious while others may feel cramped.
The gardens may be quite small but there are often communal gardens. A variation on the townhouse is the “quad”. These are four homes built together, each being one corner of a square block, set in grounds a little larger than the building.
Venture into the white villages – pueblos blancos – of Andalusia and along the cobbled streets you will see plenty of lovely cottages in rows. Some many have wooden balconies or external staircases heading up to sun-drenched terraces. These are classic examples of Spanish village properties.
Apartments
For Spain’s tourist industry, easy to clean, easy to manage and easy to rent out apartments are ideal. They are also the type of property that most Spanish people live in. There are many reasons for that, including the fact that gardens are less important as the Spanish tend to go into the streets for their evening walk – paseo – anyway.
Apartments and their complexes can be revamped relatively simply, or even knocked down and started again. This keeps seafronts and resort strip fresh and up to date. High-rise apartments offer affordability, ease of use and, of course, amazing views.
If you are after more traditional Spanish properties there are still plenty of those, but they might be harder to find.
Masias, fincas and cortijos
Country properties can command high prices, especially in the more remote areas. Masias are large stone properties which originally belonged to a local dignitary. They are spacious and usually have a substantial amount of land around them. Located in villages or in the countryside, many have become B&Bs, small hotels or restaurants. If you are thinking of running your own business, a masia could provide all that you need.
Cortijos are farmhouses, with some dating back centuries. These used to be small estates and today are sought after by people looking for a tranquil rural existence. Despite being in the countryside, some are not all that far from the sea and these command higher prices than truly rural properties.
The plot of land is the finca. There may be outbuildings on the finca, and many British people have bought such properties to create smallholdings with a few chickens and other livestock. Indeed, this lifestyle was popularised in the bestselling book Driving over Lemons.
Cave homes
Most cave homes look like normal townhouses from the outside but extend back into the hillside. The three great benefits of cave homes are affordability, temperature control (they’re cool in summer and warm in winter) and frequently having wonderful views from their elevated position.
Most cave homes are located around the Granada area of southeast Spain, or Almeria. These areas are easy to reach all year and provide easy access to both mountains in ski season and beach in the summer season.
Park home
By far the cheapest option for home ownership in Spain, with prices from just €30,000 for a brand-new, high-quality park home, which can be as large as 20 X 7 metres. They certainly offer an alternative to living in a chilly British housing estate or retirement village.
Many park estates offer vibrant and friendly communities, with facilities such as clubhouses, swimming pools and even golf courses. Funding is relatively easy, with a bank loan rather than a mortgage.
You can also save on Spain’s high buying costs, with often no need for a solicitor. Do beware the yearly service charges and ground rent however, as these can be higher than in a bricks and mortar home.
Tips to buying off-plan properties
An off-plan property is purchased before it’s built. You are literally buying from the plan. It is a common practice by developers to show buyers a property on the development which was built as a “show home”, or to show you a similar development from the same builder so that you get an idea of what the final property will be like.
Off-plan buying has several advantages. It allows buyers to have some input to the layout, finishes and fixtures. Off-plan properties can be cheaper than completed ones, especially if you buy early, as developers offer attractive prices to secure early sales. In the past, some off-plan buyers have “flipped” property once completed for a quick profit.
Risks include potential construction delays and overruns. In the past there was a risk of the developer running out of money halfway through, but this risk has been largely eradicated by strong bonds and bank guarantees.
To protect against risks, choose a developer with a good track record, preferably one where you can see finished projects. Ensure you have a Spanish lawyer who specialises in property and can ensure your payments are protected by a bank guarantee.