Why is Spain a more attractive country in which to invest in a home than others offering the ¨golden visa¨- when in those countries, the required threshold is much lower?
All the experts point to the “legal security and political stability¨ in Spain as one of the vital aspects which puts Spain ahead of their Mediterranean neighbours. Spain offers a wide range of real estate products of a varied nature much of which is being sold at levels seen in the last decade – making it interesting for foreign investment in property here.
Spain also has a good infrastructure, ease of access and a unique climate and lifestyle.
The non-EU investors interested in obtaining ¨golden visas¨ are wealthy people because the law requires them to have at least 500,000 euros in cash for the purchase of property. Demand is highest from those countries requiring normal visas and among those who are typically travelling and doing business in Europe as this is an opportunity for them to establish a European base for their business.
According to El Mundo, the experts agree that the threshold of 500,000 euros is the correct amount for a minimum investment as “Spain is seeking quality investors” and “with an investor who has 500,000 euros in cash there is the security that in the future they will not make the economy suffer”.
It is interesting to note that in 2013, 4 times more houses were sold to foreigners than in the whole of the previous year, and it is estimated that over the next 3 to 5 years more than 100,000 homes could be sold in Spain. This will ensure a recovery in property prices.