Costa Cálida continues to gain positions as one of the great destinations to enjoy the Mediterranean climate and Spanish cuisine. The Real Estate Registry Statistics of the Association of Property Registrars places Murcia as the fourth most demanded community by foreigners to buy a home in the first quarter of 2019....continue reading "Costa Cálida: The area preferred by foreigners to buy a property"
Demand from overseas buyers for property in Spain reached its highest level at the end of 2017 for some time with British investors in particular returning to the market. ...continue reading "Foreign buyers return to Spanish property market"
Spain ranks third as the preferred destination for global investors looking to relocate out of the UK and into other European countries, according to a new survey released on Tuesday by EY. The audit firm (formerly Ernst & Young) asked senior business executives representing firms with foreign investments in Europe about the impact of Brexit on their operations. And 14% of respondents said ...continue reading "Spain ranks third as Plan B for foreign investors fleeing Brexit"
Currency exchange rates are encouraging even more foreign buyers back to the Spanish property market and this is reflected in increased sales, especially in popular areas.
New legislation to relax the requirements for Spain’s golden visa which allows non-European Union buyers to gain citizenship if they invest in the real estate market is also set to encourage more buyers from overseas.
The golden visa, which was introduced in September 2013, has seen 530 foreigners granted a visa so far with the majority, some 490 people, doing this through putting at least the minimum of €500,000 into property. Most of the property investors have been Chinese, Russian or Arab with business entrepreneurs coming largely from the United States and it has earned the Spanish economy an estimated €700 million so far.
...continue reading "Exchange rates and golden visa benefit the purchase of properties in Spain"
Thousands of non-European Union high-net-worth individuals are expected soon to invest in luxury Spanish properties, in return for being granted permanent residency in Spain, according to international real estate experts.
In a bid to revitalise the property sector, and therefore the wider economy, the Spanish government announced last October that those who invest more than 500,000 euros in real estate will be allowed to stay indefinitely in Spain, and therefore the entire Schengen Area, which consists of a group of 26 European countries.
“The law is due to be passed any day, but it is now more likely to come into force in September, after the summer break. We will not know the exact process until the law is enacted but it is expected to be an administrative one involving checking the applicant has all of the necessary documentation.” Explains Alex Vaughan, a partner at an estate agency specialising in high-end properties.
...continue reading "Millionaire foreign investors to buy property in exchange for visas"