Spain's Digital Nomad Visa has significantly boosted the rental market, particularly in coastal areas. Introduced to attract remote workers from around the world, the visa allows digital nomads to live in Spain while working for foreign companies.
As of December 2023, the Spanish Foreign Ministry reported that around 300 digital nomad visas had been granted since Spain launched the program a year earlier. Many of these digital nomads are choosing to settle in Spain's coastal regions, drawn by the country's pleasant climate, beautiful beaches, and vibrant lifestyle. This influx of remote workers has increased demand for rental properties, especially in popular coastal cities and towns.
Because digital nomads typically look for long-term stays, they provide a steady stream of tenants for property owners, which showing a trend that most of them are international investors.
Data from the Association of Registrars, highlighted by technology marketer Sonneil, shows that 44% of real estate purchases in Alicante are made by foreign investors.
These international buyers show a strong preference for properties on the Spanish coast. The Valencian city, Santa Cruz de Tenerife (35%), and Malaga (33%) are the top three areas where foreign investment is most concentrated.
Following these are the Balearic Islands (31.7%), Murcia (24%), and Las Palmas de Gran Canaria (22%)—all coastal locations that attract significant interest from foreign buyers.
The British show the most interest in Spanish coastal property, accounting for 9.4% of international transactions in the country, followed by the Germans (7%) and the French (6%).
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