Sunshine & Sangria: Americans Love Málaga to Visit & Invest
In the first half of 2023 alone, Spain hosted 1.3 million visitors from the US.
Each of these travelers enjoyed their visit, and many of them started dreaming about living in Málaga Spain. 13% of the expat population in Spain are US Americans, so this is not a surprise.
There are good reasons Americans find the city attractive: social atmosphere, smiley faces, and peaceful setting.
But what else charms Americans in Málaga? Let’s see!
Why Americans are Falling in Love with Málaga?
Because Málaga is perfect for traveling and investing, and that’s what they wish!
Julissa Reynoso, US ambassador to Spain, gave an interview to SUR. She mentioned that it is the top destination in Spain for Americans. She said, “The people of Andalucía are very friendly and open and that says a lot to an American visitor.”
Americans in Málaga have two main focuses: discovering the city and making a profit. Following the correct steps will give clear results for both goals.
Reasons Americans Choose Málaga for Vacation and Living
This is what life as Americans in Málaga looks like:
Activities and Outdoor Fun: Málaga is like a child’s dream coming true. After a visit, you will find yourself telling the stories for years.
To make the best out of your time, you can try these things to do in Málaga:
- Extreme sports
- Nature walks
- Day trips
Stunning Beaches: Some cliches have logic, like sea, sun, and sand. If you love sunbathing, wait for the best beaches in Málaga!
Natural Beaty: If you live in a big city like New York, you cannot deny the healing effect of nature. The US has its nature too, but Málaga is dear to Americans.
Favorable Climate: The true highlight of Spain is its mild climate. When living in Málaga Spain, you will be thankful for the weather.
The city has long and hot summers and mild and short winters; with 300 days of sunshine.
Historical Importance: Sun and fun are important, but a trip can involve more than that. Málaga’s history roots back to 2.800 years ago, making it one of the oldest cities in Europe.
The whole city is like a historical landmark. Moors, Romans, and Phoenicians left heritages here.
Cultural Richness: Málaga’s culture follows its long history. It marks the architecture, cuisine, and daily life.
It is the birthplace of Pablo Picasso. This satisfies art lovers. There are museums, theatres, and festivals to add color to your days. During your stay, it is best to meet a Malagueño to get the local vibes.
Reasons Americans Choose Málaga for Investing:
The real estate market in Spain offers a big potential. As a tourism hub, Spain features a high demand for short-term rental.
A smart way to make a profit is to buy holiday homes for sale in Málaga Spain. This way, you can rent your property when you don’t stay here.
Since 2013, Spain has been subject to a quick increase in property demand. Malaga's popularity among Americans is a direct result of the Golden Visa program.
Here are the reasons to buy a property for sale in Málaga:
- Low costs
- Big profit
- Rental yield
- ROI (Return on Investment)
Low Living Costs Attract Americans to Málaga
The cost of living in Málaga is much lower than in the US. Let's compare Costa del Sol Málaga Spain with Birmingham, AL. In Malaga;
- Rent is 36,6%,
- Dining is 29,7%,
- Groceries are 43,3%,
- Monthly utilities are 12,8% lower than Birmingham.
Special Tax Advantages for US Citizens
As a US citizen, these are the basics of the regime for you:
- You will need to pay 24% income tax if:
- You don’t live in Spain but have a Spain-sourced income of over €22.000
- You live in Spain but have a non-Spain-sourced income
- You don’t have to file your income if you spend less than 183 days in Spain.
- You need to pay 0.4% to 1.1% property tax, even if you don’t rent out your property.
- For US citizens; the tax deduction system works in fields like mortgage interest, property management, and property taxes. Travel, education, and business costs are also in the scope.
- You can claim a tax credit from the US to avoid double taxation. This works only to avoid paying the same tax twice.
Business Opportunities With No Workplace Burnout
When we compare it with Spain, we see that the United States suffers more from the work-life interface. There is a clear-cut solution to this problem: remote working. Spain shows full support for the concept.
According to NordLayer’s Global Remote Work Index 2023, Spain is the 4th best country in the world to work remotely. This puts a digital nomad in Málaga in a lucky scenario.
In December 2022, following the pandemic, Spain introduced the Digital Nomad Visa. It allows you to reside in Spain, continue your work, and have tax benefits. The visa is valid for one year and you can renew it up to 4 times.
While balancing work with private life, Spain still gives work satisfaction. There are lots of work options here. The top business sectors are trade, tourism, agriculture, energy, and the automotive industry.
In Spain, you can keep things flexible. If you are a workaholic, you can find the same energy. Only with the side of less depression and burnout!
Living the American Dream in Málaga
The American Dream is about having equal opportunities to achieve goals.
Spain provides this atmosphere. Social structure, economic field, and business opportunities are supportive of the public benefit. So we can say that it is agreeable to the American dream, at least a European version of it.
Economy in Spain Supports Individual Growth
The important economic activities in Spain are tourism, agriculture, green technologies, medical devices, and energy.
The US is an economic partner for Spain. The good relations motivate American companies to work in Spain. Google and Caterpillar are only two examples.
Spain’s regime is a big reason for its good reputation in America. There are tax benefits for US citizens who run a business in Spain.
All and all, Spain is a profitable country for US citizens to live and invest in. That’s why it is so popular to buy a property for sale in Málaga.
For more information about Málaga and Spain, you can contact the TEKCE team anytime!