The authors analyze economic crisis in Spain, which has influenced Spanish real estate sector very negatively, and give recommendations how to overcome it. Through analyzing the data of the Spanish-Russian relations, the authors reveal many potential possibilities for both parties in this sector. Special attention is given to problems of Russian tourism in Spain: the authors demonstrate some advantages of Spain as tourist direction, and at the same time indicate many complex political problems, which prevent its development. In this regard, the foremost problem is Spanish restrictive politics, but also an absence of complete information about Spanish tourist possibilities for Russia, and limited air communication between two countries. The authors conclude that Russians could invest in Spanish economics by buying the property in Spain.