Strategies 2026: focus on student cities and renovated heritage
Castile and León is not a “speculative” region like Madrid or certain coastal areas can be. Here, investments are more often made for:
- lasting quality of life;
- a reasonable top-up of rental income;
- long-term, transferable property wealth;
- a pied-à-terre to work remotely or prepare for retirement.
In 2026, two main directions stand out:
- large university cities, with strong rental demand;
- historic centres and charming villages, where the key is high-quality renovation.
Salamanca: steady student rental demand, low vacancy
Salamanca is one of the most emblematic student cities in Spain, driven by a university founded in the 13th century and a vibrant cultural life. This translates into a very dynamic rental market. 🎓
In practical terms, for a foreign buyer this means:
- steady rental demand from October to June, with a constant flow of Spanish and international students;
- often low vacancy for well-located properties (close to the historic centre, faculties or major transport routes);
- interesting visibility for year-round rentals or flat-shares;
- long-term capital appreciation driven by the city’s academic and tourism prestige.
Properties that perform particularly well:
- 2- to 3-bedroom apartments for student flat-shares;
- small studios close to the faculties;
- homes in the historic centre that can combine student and short-term rentals.
However, given the real level of competition, choosing the right property is crucial:
- avoid streets that are too noisy if you’re also targeting families or professionals;
- check the quality of the insulation (continental winters, hot summers);
- anticipate the need for light refurbishment (robust furniture, quality bedding, functional kitchens).
Valladolid and Burgos: liquid family assets, stable markets
Valladolid and Burgos have a different profile: they are medium-sized administrative and industrial cities, with a more stable population and a diversified employment base.
This makes them interesting markets if you are looking for:
- a “family” property (3 rooms or more) for long-term rental;
- smoother resale than in a small, isolated village;
- a less seasonal market than purely tourist destinations;
- prices that are still reasonable by Spanish standards.
In Burgos, the appeal of the local heritage, the UNESCO-listed cathedral and the city’s position on the Camino de Santiago create a steady tourism base. Administrative and university activity supports domestic demand, which is reflected in the search for family homes in Valladolid by both local residents and some second-home buyers.
For a life project or a “peace-of-mind” investment:
- target neighbourhoods with good access to public transport, schools and shops;
- look for well-maintained buildings: lifts, roofs and façades up to date;
- prioritise layouts that are easy to rent out: 1-bedroom, 2-bedroom, 3-bedroom apartments.
This way you obtain liquid assets, meaning properties that are easier to resell if your plans change, while benefiting from moderate but steady yields.
Segovia: small units in demand in a heritage city
Segovia occupies an interesting middle ground: a very touristic heritage city, but smaller in scale than Salamanca or Valladolid. Its Roman aqueduct and listed historic centre generate regular short-stay demand, while it remains a year-round place to live.
In the second-home segment, data from Green Acres shows buyers often targeting good-quality properties in or near the historic centre. Buyers favour comfortable, ready-to-use apartments that can combine personal use with occasional rentals.
In practical terms, the strategies that stand out in Segovia are:
- buying a well-located apartment with character, for mixed weekend / seasonal use;
- focusing on already renovated buildings in the very city centre to limit renovation work;
- exploring adjacent neighbourhoods well connected to the centre to optimise the budget.
Available data on foreign buyers in Segovia is still limited, but the city attracts a European clientele that values heritage, gastronomy and proximity to Madrid, which strengthens its medium-term resale potential.
See apartments and houses for sale in Segovia
Budget and trajectory
Overall, Castile and León remains more affordable than Spain’s major metropolitan areas.
But behind this average lie several realities: a dynamic university city, a provincial capital, a small historic town or a village almost frozen in time. Your budget and your tolerance for renovation work will make the difference. 😊
Regional levels around €1,250/m²: room for growth vs historical peak
At regional scale, prices are broadly around €1,250/m², with significant differences between:
- the centres of large cities (Salamanca, Valladolid, Burgos, Segovia);
- small towns and rural villages;
- renovated properties and those needing full rehabilitation.
Compared with the 2011 peak, many local markets still show room for growth, which can be an argument for a medium- to long-term holding horizon.
The second-home searches observed in Valladolid or Segovia illustrate this logic: foreign buyers are not yet flocking massively to the region, but they already see these cities as more affordable alternatives to the major regional capitals.
To build your purchase trajectory, ask yourself a few simple questions:
- how long do you plan to hold the property (5, 10, 15 years)?
- what is your main objective: to live in it, rent it out, or a mix of both?
- are you prepared to manage renovation works remotely, or do you prefer something “turnkey”?
- what share of your budget do you want to keep in reserve for contingencies?
One possible strategy in Castile and León:
- buy a reasonably sized property in a city (Salamanca, Burgos, Segovia or Valladolid) to secure resale;
- accept moderate but steady returns at the outset;
- let time work in your favour, counting on a gradual recovery towards historical levels when the overall Spanish market tightens again.
Villages: rock-bottom prices offset by upgrade costs
The villages of Castile and León are dreamlike: stone alleyways, a slow pace of life, open landscapes… and sometimes houses at almost symbolic prices. 🏡
It is tempting, but it’s important to keep a realistic view:
- prices per m² can be very low, sometimes well below the regional average;
- but upgrade costs (structure, roof, insulation, heating) can quickly add up;
- resale liquidity is often low, especially in depopulating villages.
Before buying in a village, take the time to check:
- the true condition of the building (ideally with a local architect or surveyor);
- access: usable roads, distance to the nearest town, availability of basic services;
- planning and heritage regulations (protected areas, material requirements, etc.);
- the presence of other foreigners or neo-rural residents, as an indicator of local dynamism.
A “village house” project makes sense if:
- you are primarily looking for a lifestyle rather than financial returns;
- you can travel regularly to monitor the renovation works;
- you accept the possibility of a potentially long resale period.
For many buyers, a hybrid approach works well:
- an apartment or small townhouse in Salamanca, Burgos, Segovia or Valladolid to secure the project;
- and then, possibly, a secondary village house if you fall in love with the place and your budget allows it.
Current data available on Green Acres suggests that the foreign market in Salamanca, Burgos, Segovia or Valladolid is still relatively discreet, which may in fact represent an opportunity: entering a market before it becomes fully “trendy” and competitive pressure increases.
