Spain’s real estate market continues to attract buyers from all over the world, and Americans are among the most active and high-spending foreign buyers in 2025 and early 2026.
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US Buyers Are Growing in Number
In the first half of 2025, Americans were one of the fastest-growing foreign buyer groups in Spain. Property purchases by U.S. citizens increased by about 14% compared with the same period in 2024, according to official notary figures.
Although Americans still make up a small share of total foreign buyers, roughly 2% of non-resident foreign transactions, their activity has grown more than fourfold over the past five years.
In 2025, American buyers made about 2,795 property purchases across Spain, maintaining steady demand.
Where Americans Are Buying Property in Spain?
American buyers are attracted to both major cities and lifestyle regions:
• Costa del Sol (Málaga / Marbella)
• Alicante / Costa Blanca
• Balearic Islands
These areas see a high share of foreign purchases, for example, up to 35% of transactions in Málaga and 43.8% in Alicante involve foreign buyers, though not all are American.
Marbella, in particular, is a magnet for American lifestyle buyers thanks to its beaches, climate, and luxury market.
Americans Pay the Most per Square Meter
One standout trend is that U.S. buyers spend more on average per square metre than any other nationality:
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Americans: ~€3,390/m²
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Foreign average: ~€2,362/m²
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Spanish buyers: ~€1,713/m²
These figures reflect that Americans often target high-end or centrally located properties.
The data for the first half of 2025 confirms this, showing Americans pay the highest average price among foreign buyers (~€3,465/m²).
Why Americans Are Investing in Spain?
Several factors explain the strong interest from U.S. buyers:
1. Good Value Compared with the U.S.
Even though Americans pay high prices for Spain, overall costs can still compare favorably with major U.S. cities — especially for larger homes or coastal properties.
2. Lifestyle and Culture
Spain’s climate, food, safety, and quality of life are big draws. Regions like the Costa del Sol offer year-round sunshine and relaxed living, which appeals to retirees, second-home buyers, and lifestyle investors.
3. Currency Strength
A strong U.S. dollar has increased American purchasing power in recent years, helping buyers achieve more value.
4. End of Golden Visa, but Demand Remains
Spain ended its Golden Visa programme in 2025, which previously gave residency in exchange for property investment. However, buyers are still investing because the market remains attractive and prices are rising.
Final Takeaway: Spain Offers Lifestyle and Long-Term Value
American buyers are no longer rare in Spain. They are a key part of the foreign buyer mix, especially at the higher end of the market. Their purchases are growing year-on-year, and they consistently pay prices compared to other nationalities.
Whether investors, lifestyle buyers, or future expats, many U.S. buyers see Spain as a valuable destination for property in 2026 and beyond.