Today, it is easier than ever before to invest in Spain property after the European Union gathered in Brussels in early 2007 made it possible for the Spanish government to apply the same capital-gains tax rate to locals and foreigners alike.

With taxes reduced from 35% to 18%, investing in real estate is not only a dream come true for many people wanting to relocate to Spain, but also for those who want a second home or a vacation beachfront property. Spain is a popular destination for travelers seeking their warm and sunny climate, but especially those paradisiacal spots in the Canary and Balearic Islands.

Luxury resort villas, splendid apartments, and homes are just a few of the property options available on the five islands popularly known as the Canaries, which lie off the western coast of mainland Spain in the Atlantic Ocean. On the opposite side, the Mediterranean coast encompasses the Balearics, three major islands and three smaller.

When it comes to beachfront property, Spain offers a unique variety of white sandy beaches, golden sand beaches, and beaches with black sand, depending on the location you choose within these islands. There are also secluded coves inviting to privacy, but open for real estate investment.

However, investing is not limited to the islands’ beachfront property; Spain also offers a sunny coastline in the northern region of the country and a popular coastal region running from Barcelona in the East to Andalucía in the south. All the Spanish beaches have pleasant weather and easy accessibility.

The low living cost in Spain and the hospitality of locals is another add-on value for overseas investors who can choose from a large range of properties also including small apartments and townhouses, as well as huge “fincas”, Spanish name given to rural property including diverse ranches and farms near by the coast.