Economic Advantage of the Stronger Dollar
As of November 7, 2024, the USD/EUR exchange rate stands at approximately 0.937, meaning that 1 U.S. dollar is equivalent to 0.937 euros. This recent dollar strength has boosted the purchasing power of U.S. buyers in the Eurozone, including Spain, making European real estate more accessible and appealing to Americans seeking property investments abroad.
For American buyers, a stronger dollar means each dollar goes further, allowing them to afford properties that might have been previously out of reach. At today’s exchange rates, a U.S. buyer’s budget stretches further in Spain, where property prices are often competitive relative to both the U.S. and other popular European locales.
Political and Economic Drivers for Overseas Investment
The recent U.S. election has prompted shifts in traditionally Democratic “blue” states, with some now leaning Republican, adding a layer of uncertainty about potential changes in domestic policies. While real estate investment is influenced by various factors, economic and policy shifts can often drive investors to consider foreign property as a stable alternative, with Spain standing out as a particularly attractive option.
Spain has long appealed to foreign investors due to its welcoming culture, affordable living, diverse property options, and year-round mild climate. For American investors who may anticipate policy changes at home, Spain offers a sense of economic stability and an attractive environment to diversify and grow their investments.
Rising Demand from American Buyers
In one of our latest blogs, we reported that between January and June 2024, foreigners purchased 69,412 homes in Spain—a 1.8% increase compared to the first half of 2023. Notably, American buyers accounted for 11.4% of these transactions, reflecting a significant rise in their participation in the Spanish real estate market. This increase is fuelled by favourable exchange rates and the appeal of Spain’s lifestyle, affordability, and investment potential.
Why Spain? Lifestyle, Accessibility, and Investment Value
Spain consistently ranks as a top destination for American buyers seeking a high-quality lifestyle, beautiful coastlines, and robust infrastructure. The country offers diverse real estate options, appealing not only for holiday homes but also as permanent residences for those looking to embrace a Mediterranean way of life. Spain’s accessibility is a major plus, with direct flights from the U.S. making it easy for Americans to visit or even live part-time.
With growing international demand, Spain’s property market is expected to remain strong, yet still affordable compared to other popular European destinations. Spain offers properties suited to a variety of budgets and investment goals, providing value that appeals to U.S. buyers eager to capitalise on the stronger dollar.
What American Buyers Love About the Spanish Lifestyle
Relaxed Pace of Life: Spain’s focus on enjoying life’s moments resonates with Americans seeking a slower, more relaxed lifestyle. The emphasis on family time, leisurely meals, and a balanced work-life approach makes Spain especially attractive to those wishing to escape the fast-paced U.S. lifestyle.
Mediterranean Climate: Spain’s sunny, warm weather appeals greatly to Americans. Regions like the Costa Blanca North boast mild winters and long, warm summers, perfect for beach lovers and outdoor enthusiasts looking to soak up the sun.
Affordable Cost of Living: Compared to major U.S. cities, Spain offers a significantly lower cost of living. This appeals to retirees and remote workers who can enjoy a high quality of life without the financial stress that often comes with city life in the U.S.
Rich Cultural Heritage: Spain’s diverse history, vibrant traditions, and artistic legacy attract those interested in immersing themselves in a rich cultural experience where they can enjoy centuries-old architecture, fiestas, and a unique blend of cultures.
Gastronomy and Wine: Spain’s food and wine culture is beloved worldwide, known for tapas, paella, fresh seafood, and renowned wines. In fact wines from Spain took second and sixth place on a list of” seven best wines in the world” selected at the last meeting of European wine collectors in Wiesbaden last year. Many American buyers appreciate the high-quality yet affordable dining experiences along the Mediterranean coast.
Outdoor and Active Lifestyle: Spain’s natural landscapes offer ample opportunities for outdoor activities. Areas like the Costa Blanca North, for instance, provide hiking trails, sailing spots, golf courses, and more. This lifestyle appeals to Americans looking for a nature-connected, active lifestyle.
Excellent Healthcare System: Spain’s public healthcare is not only affordable but also highly rated. For Americans accustomed to high healthcare costs, Spain’s system provides peace of mind, especially for retirees.
Access to Amenities: Americans are used to driving to access dining, shopping, and entertainment options, especially in suburban and semi-rural settings. For American buyers, owning property in Costa Blanca North with an hour's drive to the nearby cities of Valencia or Alicante isn’t a deterrent—it´s a benefit. Since the convenience of a quick drive to nearby cities for special events, top-tier restaurants, or cultural experiences is routine for many Americans.
For many Americans, buying property in Spain is as much about lifestyle enhancement as it is about investment. The combination of beautiful landscapes, a vibrant culture, and a welcoming way of life makes Spain an ideal choice for those seeking a more fulfilling and enjoyable way of living.
Spain’s welcoming environment, combined with today’s strong dollar, presents a unique opportunity for American investors to maximise their investment potential in one of Europe’s most desirable destinations.
Popular Areas for U.S. Buyers in Costa Blanca North
Several areas within the Costa Blanca North region are especially popular among U.S. clients looking for a blend of lifestyle, culture, and amenities that cater to their needs. A recent article from a prestigious New York-based digital magazine highlighted Spain’s top retirement destinations, listing 44 towns and cities based on seven key factors. Among the top 10 were Jávea, Calpe, and Denia—all situated in Costa Blanca North and celebrated for their retiree-friendly appeal.
Here’s a closer look at the specific areas attracting American buyers:
Moraira
Moraira is a small, upscale coastal town known for its beautiful beaches, marina, and diverse dining scene. It has a significant expatriate community, including Americans, who appreciate its unique blend of traditional Spanish charm and modern amenities.
Jávea (Xàbia)
Jávea offers sandy beaches, a historic old town, and a lively port area. With an established international community and top-notch facilities like international schools and healthcare services, it appeals to American families and retirees alike.
Benitachell and Cumbre del Sol
Benitachell, along with the exclusive area of Cumbre del Sol, attracts affluent American clients drawn to the region’s year-round amenities, stunning views, and proximity to both Jávea and Moraira. Luxurious properties and exclusive facilities make these areas ideal for those investing in a premier lifestyle destination.
Denia
Denia is known for its vibrant cultural scene, historic castle, and ferry connections to the Balearic Islands. Its dynamic lifestyle and beautiful surroundings attract American buyers seeking both relaxation and activity.
Altea
Altea is famous for its artistic community, charming old town with whitewashed houses, and panoramic sea views. The town’s tranquil environment and rich cultural offerings make it a favourite among American artists and retirees.
Calpe
Calpe, home to the iconic Rock of Ifach, boasts sandy beaches and a variety of property options. Its mix of natural beauty and modern conveniences appeals to American buyers looking for a balanced lifestyle.
These areas provide a unique combination of scenic beauty, cultural richness, and amenities that resonate with American property buyers in Costa Blanca North.
For those considering a move to Spain, the Costa Blanca North provides a unique blend of lifestyle, investment potential, and luxury, all at more reasonable prices compared to more established markets like the Costa del Sol. The region is perfect for retirees and younger expatriates alike, offering everything from vibrant cultural scenes in Denia, Jávea and Calpe to the emerging scenes in Moraira and Altea.
Get in touch to find out more about properties we have for sale both on and off market in the Costa Blanca North, a region where the term 'North' simply denotes a distinction in style, not climate with an average of 320 days of sunshine each year, extended summers, and mild winters to enjoy.
Tel: +34 966 675768
Office/WhatsApp: +34 683384750
Email: costablancanorth@fineandcountry.com
Registration Numbers:
Valencian Community RAICV 2147
APIAL A217
Founder member of the Guild of Spanish Property Professionals
Luxury Lifestyle Awards Winner 4th Consecutive Year:
"Best Luxury Real Estate Agent in the Costa Blanca 2024"
LUXlife Awards 2024
"Most Dynamic Luxury Real Estate Company 2024 – Spain"