NEW GOLD RUSH

AMERICANS are coming to Spain for longer both as digital nomads and to retire.

The number living in Spain grew by 13% from 2019 to 2021, while home sales to US buyers jumped by 88% from 2019 to 2022.

Americans also splash the cash more than any other buyers, apart from the Danes, cough-

By Alex Trelinski

ing up an average of €2,837 per square metre.

And their purchasing power grew the most in the same period, according to the General Council of Notaries report.

American buyers tend to focus on urban areas like Madrid, while

SurgeinbuyersfromUSwithsalesup88%

Valencia and Andalucia are key locations.

“As with any big city, people are attracted to its job opportunities and amenities,” said Alex Ingrim from financial services firm Chase Buchanan.

“There is a strong word of mouth about Valencia, with a large ex- pat community and among them many Americans,” he added.

Spain launched its digital nomad visa earlier this year, making it easier for foreigners to move and work in the country.

The visa is tailored for ‘international teleworkers’ and applicants must comply with a set of require- ments, such as accreditation or professional experience of at least three years.

“Prior to having this visa, it was difficult to work in Spain because the tax rates were so high and there wasn’t a clear-cut immigration regime, other than the ′golden visa’ that allowed you to move to Spain and work,” added Ingrim.