In quarantine, interest in real estate
has grown.
CIS citizens continue to show interest in buying real estate in Spain. And during the quarantine, strangely enough, the demand increased almost 2-fold! And now our clients are interested in obtaining a residence permit as never before. If earlier buyers were interested in real estate for the purpose of renting and making a profit, then now, against the background of the general quarantine and work online, many are seriously thinking about moving and buying their own homes.
Golden visa program may be simplified
The Spanish Ministry of Labor reports that in 2019, the government’s “golden visa” program gave a very good performance for the country. Since 2014, the program of residence permits for investment has brought about 3 billion euros to the Spanish budget.
The most active recipients of “golden visas” were the Chinese, their number reached 35% of all those wishing to obtain a residence permit. The second place is taken by Russians – 25%.
And now good news for investors! Due to the coronavirus and entry restrictions, the international immigration program is suffering significantly and the number of investments has dropped significantly. Therefore, the Spanish state is now considering the introduction of additional incentive measures for investors. An initiative has already been submitted to the government to reduce the amount of investment in housing by a factor of 2. That is, instead of € 500 000 required at the moment to obtain a residence permit reduce the total amount to € 250 000, for a period of two to three years. In this way, the Spanish government wants to attract investment back into the country.
If you already have investments in real estate, you only have to wait for this law! Our company will help you in preparing all the necessary documents. Contact us by email at mail@broadway-consulting.com