Spain continues to attract international real estate investment despite the end of the Golden Visa
Despite the elimination of its Golden Visa program in April 2025, international interest in real estate investment in Spain remains stable and, in many cases, is on the rise.
This trend is reflected in the remarkable dynamism of the residential sector, with a growing number of sales reaching their highest level in April since 2008.
This resilience is particularly attractive to Latin American investors, who are beginning to see Spain as a solid alternative to traditional options like Miami.
A market that strengthens without immigration incentives
The elimination of the Golden Visa as a migration incentive has not weakened the attractiveness of the Spanish real estate market. According to data from National Institute of StatisticsIn April 2025, 54.318 home sales were recorded, marking a year-on-year growth of 2,3% and adding ten consecutive months of growth.
Even in the luxury segment, where the Golden Visa had the greatest impact, demand continues to be driven by international buyers. In this sector, 92% of transactions are still signed by non-residents, with a strong presence of Latin American, European, and Asian capital.
Spain versus Miami: changes in the perception of the Latin American investor
Historically, Miami has been one of the preferred destinations for Chilean investorsHowever, factors such as rising taxes, increased maintenance costs, and new safety regulations are impacting the profitability of real estate investments in Florida.
Furthermore, the average price of a single-family home in Miami has exceeded $730.000, with areas like Coral Gables and Pinecrest where values approach two million dollars. This is compounded by an increase of up to 50% in associated expenses, such as homeowners association (HOA) fees and insurance.
These conditions have led many investors reconsider your portfolio and explore new markets. In this context, Spain emerges as a more stable and profitable option, with competitive prices and an attractive regulatory environment.
Madrid and the Costa del Sol: poles of attraction for international capital
The luxury real estate sector in Spain is consolidating strongly in areas such as Madrid and the Costa del Sol. In Madrid neighborhoods like Salamanca and Chamberí, demand exceeds the available supply.
Similarly, towns like Marbella or Benahavís on the Costa del Sol register average prices above three million euros, with a growing presence of residential projects associated with international brands.
Economic stability, quality of life, and legal certainty continue to position Spain as a strategic destination for global capital. Unlike other markets, the elimination of immigration benefits has not slowed investment but has instead highlighted the structural strength of the Spanish real estate sector.
Opportunities for Latin American investors in Spain
Given a context in which profitability in Miami is decreasing and costs are increasing, Spain represents an increasingly attractive alternative for Latin American investors.
The possibility of accessing properties Prime In established markets like Madrid, coupled with sustained demand from international buyers, it offers solid prospects for appreciation and return.
Furthermore, the exchange rate differences, the European environment, and the ease of cultural and linguistic integration make Spain a particularly convenient destination for Latin American investors.
AIM Global: a strategic partner for your real estate investments
The end of the Golden Visa program has not discouraged foreign real estate investment in Spain. On the contrary, it has reaffirmed the intrinsic value of its market, supported by solid fundamentals and consistent international demand.
For Chileans and Latin Americans in general, AIM Global has a team of experts who offer top-level advice when looking for investment alternatives in Europe.
The Spanish market offers stability, profitability, and opportunities for wealth expansion. Schedule a meeting Join us and we'll help you find investments that fit your profile.
