The number of American expats living in Spain grew significantly in the 2019-2021 period, with the authorities reporting a 13 per cent increase.
According to a new study released by the Spanish government, the authorities saw the interest of Americans in buying homes in Spain rise dramatically since 2019.
Data show that the number of homes that Americans purchased in Spain between the 2019-2021 period went up by 88 per cent, and thus, the number of them living in the country increased too.
As the New York Post explains, Americans are mainly flocking to urban areas in Spain, such as Madrid, Valencia, and Barcelona, with these three cities registering significant rent and real estate price increases since 2019 due to the high demand.
Commenting on the high number of Americans choosing Spain as their destination to purchase properties and live there, the Director of VDB Luxury Properties, Gloriana Bonillo, said that Spain has become popular in the last four years and, at the same time, stressed that the majority of Americans come from New York, Los Angeles, and Texas.
“I don’t know what kind of memo went out in the US in the last four years, but we’ve noticed a huge difference with what’s happening with Americans since 2019,” the statement of Bonillo reads.
While the increase in the number of Americans choosing to buy properties and live in Spain has been welcomed by many businesses, the case is not the same for citizens of the country as the prices have increased. Citizens of Spain now have to pay a higher amount when renting or purchasing a property as due to the high demand and inflation, the prices have gone higher.
Americans living in Spain need to hold a residence permit, which gives them the right to reside as well as work in the country.
Until now, Spain has had strict rules when it comes to temporary residence permits, but it just recently decided to make some changes.
The Spanish authorities have decided to no longer revoke the temporary residence permits of foreigners who spend more than six months outside of its territory.
This means that all foreigners who hold a temporary residence permit will be able to travel abroad r six months within a year without worrying about the status of their permit.
The decision to revoke the six-month rule for foreigners holding a temporary residence permit was taken by the Spanish Supreme Court on June 20.
