We don’t live in Spain. But we own multiple properties there that bring in passive income month after month. And in this post, we’re sharing exactly how we did it.
We’re not realtors. We don’t flip houses. We don’t even live full-time in Europe. We’re just regular people who wanted to build wealth on our own terms—without being tied to one location.
So if you’ve ever dreamed of owning property in Spain, or wondered if you can buy a house in Spain even if you don’t live there—this post is for you.
Let’s walk you through our journey, what we learned, and the exact steps we took to buy real estate in Spain from abroad.
Our Backstory: Making Our Dream Reality
We’ve always loved Spain. Being in Europe, the culture, the affordability, the slower pace of life—it resonated with us. But we never imagined we’d end up owning a portfolio of properties there. So quickly and being relatively still young.
When we had our first sizable savings, we knew we wanted to invest into something that would bring long-term stability and passive income. Stocks felt too volatile. Crypto? Fun, but unpredictable. We were looking for something real—tangible. And Spain’s real estate stood out immediately.
Why did Spain’s real estate stand out?
Prices were still affordable, especially compared to other parts of Europe.
There was real opportunity for cash flow, not just appreciation.
We dreamed of Spain. We studied there years ago and had always wanted to find an excuse to go back.
We weren’t looking for a vacation home. We didn’t care about beachfront views or a charming stone cottage in the countryside. We were focused on numbers. Yields. Cash flow baby.
Why We Chose Spain: Affordability Meets Opportunity
When we first looked into property in Spain, we were kind of shocked by how affordable it still was—especially in the smaller cities and up-and-coming neighborhoods.
Back in 2021, you could still buy a flat in Spain for under €70,000. Not a fixer upper, but a decent 2-3 bedroom apartment with solid rental opportunities. Compare that to most major cities in Europe (or anywhere, really), and Spain felt like a steal.
But beyond the prices, what really got us was the high rental yield potential.
We weren’t interested in buying in Barcelona or Madrid center. Prices are higher there, and rental yields aren’t always great unless you’re doing short-term stays (which come with more regulations and management). Instead, we focused on lesser-known but still active cities and towns—places with strong local economies, universities, or hospitals.
That’s where you find those juicy 7%+ net yields.
And because we weren’t planning to live there or spend our summers lounging in one of the properties, we could be totally objective. This was a spreadsheet decision.
What We Were Looking For: The Anti-Dream Home
Here’s the thing: most people shop for homes with their heart.
We didn’t.
We knew this wasn’t going to be our dream home. We weren’t going to spend our summers there. We weren’t going to decorate it with cute Mediterranean tiles or do a total HGTV-style renovation.
Our property search in Spain was simple:
Under €70,000
8%+ net rental yield
Low community fees
No major renovations needed
Walking distance to public transport, supermarkets, or a university/hospital
We actively avoided:
Fixer-uppers (too many unknowns)
Tourist areas (high seasonality)
Emotional buys (no buying because “we love the vibe”)
Most people we know avoided those deals too—because they didn’t seem “nice enough.” But that’s exactly why they were great investments.
We weren’t buying for ourselves. We were buying for the market. That mindset shift made everything easier.
How We Find Deals: Data, Sweat, and Local Connections
Let’s talk about the fun part—how to actually find these deals.
Back when we started, we used the usual suspects: Idealista and Fotocasa. These are like the Zillow of Spain. Everyone uses them. But we didn’t just scroll once a week and hope for the best.
We treated it like a job.
Every morning, we checked new listings. We even built a scoring system based on our criteria. We compared yields. We created spreadsheets. Because if we were going to buy a house in Spain from another country, we needed to be 100% confident.
We’d set up appointments to see apartments, walk the neighborhoods, and we started to see which areas were up and coming.
Now, we rely more on local connections—agents, property managers, and friends who know what we’re looking for and send us deals directly. And we walk… a lot.
The Pros of Owning Property in Spain
Let’s talk about the good stuff. What makes buying real estate in Spain actually worth it?
1. Monthly Cash Flow
Every month, rent hits our bank account. That income is partly what fuels our freedom. It’s what allows us to work on projects we love, without stressing about a paycheck. And because we focused on cash flow from day one, every property adds to that stability.
2. Low Taxes
People don’t talk about this enough, but property taxes in Spain are low. Like, surprisingly low. Our annual property tax (IBI) is often around €200 per year. That’s less than most cell phone bills.
And doing taxes? We handle it ourselves. Once you learn the system, it takes less than one hour a year. Spain has agreements with many countries to avoid double taxation, which helps too.
3. Stable Tenants
We’ve had great luck with long-term tenants—mostly locals or students. Because we don’t rely on Airbnb or seasonal rentals, our occupancy stays high and predictable. That makes budgeting and forecasting easy.
Our Current Strategy: Rinse and Repeat
Spanish real estate under €70,000 is not so easy to come by with our property criteria, nonetheless we will be continuing to buy flats in Spain.
We’re spreading across different cities as we learn more about growth areas.
Every deal we buy still has to pass the same test:
Do the numbers make sense?
Does it have above average appreciation potential?
Can it be fixed up in a couple of weeks?
If yes, we move quickly. If not, we walk away.
Because we’ve built relationships with agents and banks, we can act fast. In Spain, that matters. Especially in competitive markets.
Final Thoughts: You Don’t Have to Live in Spain to Invest Here
This might be the most important thing we can say:
You don’t have to live in Spain to buy real estate in Spain.
You can build a profitable portfolio from abroad—as long as you have the right mindset and systems.
Don’t wait for the perfect moment. Just start learning, researching, and talking to people. Because the best deals often go to those who are prepared—not just those who are lucky.
We never expected this to be our path. But now, we wouldn’t trade it for anything.
Quick Recap: What You Need to Know Before You Buy
✅ Spain is still one of the most affordable places to buy real estate in Europe.
✅ Focus on buying a flat in Spain that meets your financial goals
✅ Spend time on the ground (if you can), or build a team that knows the local market.
✅ Avoid over-renovations
If you’re thinking about buying property in Spain and want to learn more, we’re sharing everything we’ve learned—from spreadsheets to taxes to the small things no one tells you about.
Want us to go deeper into anything in a future post? Let us know in the comments.
And if you’re ready to take your first step into Spanish real estate and building a Spain real estate portfolio—or just curious if it’s the right investment for you—we’ll walk you through the process step by step.