Buy a town for 150,000, luxury and other investment possibilities in Galicia, northern Spain

The housing shortage in large cities coupled with inflation caused by the pandemic, the war in Ukraine and the fall in assets, has caused many to seek alternatives to protect their money and lead a more sustainable life style. The trend of people investing in properties to live in Galicia (especially foreigners) is on the rise.

By Y. Sevillano

Cies Islands in Galicia: Free Media Commons

Why does Galicia attract foreign investors?

The community of Galicia, located in the northeast of Spain, has multiple attractions and a great quality of life. With a unique geography that is made up of numerous estuaries along the coasts with beautiful beaches and cliffs, which contrast with the green valleys and mountains of the interior of the province.

Panoramic view of the city of Vigo from the estuary

The six largest cities (Vigo, La Coruña, Santiago de Compostela, Orense y Lugo), and other smaller ones, are well interconnected through modern highways and a network of high-speed trains, and also link Galicia in a few hours with cities like Madrid or Barcelona. In addition to this, three international airports distributed in the community, which welcome national and international travelers.

New Urzaiz train station in Vigo, designed by the American architect and Pritzker Architecture Prize winner Thom Mayne

The climate throughout the year in the community is stable, it has the four seasons and mild winters and summers that usually range between 8 °C and 28 °C respectively. Galicia's economy has traditionally been based on fishing and agriculture, with very fertile lands, water reservoirs and an important industry that exports seafood, wine and other products internationally.

Panoramic view of the city of La Coruña from the Tower of Hercules. Credits: El Español

Among other economic activities, the automobile, naval and textile sectors stand out, with the headquarters of the Inditex empire (owners of the Zara store chain) in Arteixo, La Coruña. Tourism also stands out with the Camino de Santiago that welcomes millions of pilgrims from all over the world every year. Gastronomy, viticulture, beaches, forests, ancient monuments from the Roman and Neolithic eras, petroglyphs dating back 4,000 years or ancient settlements from the Celtic era... spas, nautical centers, museums, art galleries, palaces, theaters, festivals and cities.

In addition to them, Galicia has important financial entities and a boom in renewable energies with important wind farms, and others from solar and wave energy that are expanding.

Cathedral of Santiago de Compostela dating from the 9th century, final destination of the pilgrimage route. According to tradition, it houses the tomb of the Apostle Santiago. Credits: National Geographic Story


Interior design and renovation project in Vigo by our Tharo Design, for a hundred year old apartment

For some time now, Galicia has been becoming an investment destination for many foreigners, attracted by its mild climate, its good quality of life, its landscapes and the attractive property costs, unlike the high prices on the Costa del Sol. They are mostly people who want to live a quiet retirement, families looking for a good environment to see their children grow, entrepreneurs interested in tourism and the agricultural sector or people looking to acquire a vacation property.

Country-style stone house for sale in Tomiño, Pontevedra. Credits: Galicia and Green Spain Property

The wide variety of possibilities opens investment to different pockets with houses and apartments that can be purchased from 20,000 to luxury properties both in the countryside and in the city, which exceed 3,000,000 million Euros.

Or buy an small twon to renovate in the middle of nature for a price of 150,000 Euros. These acquisitions also have incentives from the Galician government, that offers aid for works to improve energy efficiency in single-family homes and residential buildings up to 38,750 Euros, covering in certain cases 100% of the cost of the intervention to be carried out.

Farm land for sale in San Cristovo de Cea, Orense. Credits: Galicia and Green Spain Property

Investment in tourism also has grants of up to 50,000 Euros for facilities, quality certifications, equipment or beautification of the environment, among others. And also rural investment, with aid to establish companies dedicated to traditional, ecological agriculture and livestock, having received only in the year 2021 14,3 million Euros in agri-environmental aid.

One of the best communities in Spain to live

View of part of the Campus in the University City of Santiago

The entire community has good infrastructure and a wide variety of services, both in the main cities and other smaller municipalities. An offer of public and private educational institutions, hospitals and clinics, shopping centers, entertainment venues, and street shopping areas. As well as parks and areas to practice different sports.

City of Culture of Galicia, on top of Mount Gaias

Galicia also stands out for being one of the safest communities in Spain, in addition to hosting the city with the highest quality of life in Spain, Vigo, according to its citizens and the OCU (Organization of Consumers and Users). For which global aspects such as safety, cleanliness, education, environment and pollution were valued.

Beach of the Cathedrals in Ribadeo, Lugo. Credits: 65 y Más

Entrepreneurs, Startups and the luxury sector, bet on Galicia

Exclusive villa for sale in Mondariz, Pontevedra. Credits: Galicia and Green Spain Property

The strategic location of Galicia with access to the sea, its freight ports, and its excellent connection with the rest of Spain, Europe and America, has made top executives and entrepreneurs put their eyes on it to invest. Many of them are foreign investors interested in Spain, who have chosen Galicia as a tax residence for their Startups and companies.

Eurostars hotel and spa on Isla de la Toja, Pontevedra. Credits: Eurostars Gran Hotel La Toja

This has been reflected in an increase in the supply of luxury homes from one million Euros, mainly in coastal areas and close to city centers. These are spacious homes with gardens, many of which have swimming pools and other premium features. The restaurant, trade and services sector is also experiencing growth; with a varied selection of places and experiences that range from boutiques with famous haute couture firms, to restaurants, spas, hotels and luxury glamping in the middle of nature.

Max-B located in the city of Vigo, is one of the luxury boutiques in Galicia that sells renowned firms such as Dolce & Gabbana and Celine. Credits: Max-B

At Tharo Design we make sure that each of our clients receives personalized and exclusive attention. There are many who have entrusted us with the renovation and decoration of their home, where we have put enthusiasm and commitment into each project. If you want to join our clients, make an appointment with us here.

By Y. Sevillano

Founder of the Tharo Design brand. Y. Sevillano studied architecture at university and is dedicated to interior design and the world of home decor.


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