A second residence and a second passport is for many wealthy individuals and their families, especially those that live in conflict areas, a safety net. Buy luxury real estate in Spain is your ideal route and the Golden Visa has many investment options:
- Minimum investment €500,000 in real estate.
- €2,000,000 capital investment in Spanish Public debt.
- €1,000,000 investment in shares in an existing Spanish company with real activity.
- €1,000,000 deposit in a reputable Spanish bank or fund.
A minimum investment €500,000 in Spain will not only buy you a prime real estate property but also the freedom of movement throughout the European Schengen area, excellent healthcare, world-class school and universities including the two if the best business schools in the world, a healthy lifestyle that is based on the Mediterranean diet and a relaxed, unhurried pace of life.
Real estate market in Spain
Real estate prices in Spain have been steadily rising since 2016 however the Covid-19 worldwide pandemic in 2020 has put a pause to this. Property experts predict that real estate prices may still fall by 5 to 10% in the short term. This is good news for those who are looking for a second home or a property to buy luxury real estate to live in or rent. Spain is still among the best places in Europe to buy real estate as it offers considerable returns on investment.
A wide range of properties can be bought for €500,000 – from 3 bedroom apartments or townhouses to a fully detached villa with a garden – in secondary locations. An additional €1,000,000 or more may be needed for prime locations such a Madrid or Marbella.
Where buy luxury real estate
There are several types of real estate property in Spain that are very Spanish in layout and style such as a chalet surrounded by nature with a large garden, swimming pool and parking area that will bring the owner tranquility and pleasure. There are also mansions in the mountains that are one or two storied located in strictly residential areas and upscale neighborhoods with swimming pool, terraces and views of the city and the Mediterranean Sea. Living in front of the sea is also an option and one can avail of at least 500 square meters of open space, light-filled interiors that is perfect for a very relaxed lifestyle.
The most expensive places to buy luxury real estate in Spain are Marbella, San Sebastian, Barcelona and Madrid. Less expensive are The Canary Islands, Catalonia, Andalucía and Valencia. In Castilla y Leon your €500,000 can go a long way.
There are also several amenities that come with the Golden Visa real estate purchase. The holder can avail of some amenities like resort-style living, world-class restaurants, concierge services, resident-only social clubs and fitness facilities.
Benefits of the Golden Visa Spain
The Golden Visa Spain has the following requirements:
- A minimum investment of €500,000 in real estate
- The Golden Visa Spain is a temporary residency permit that can be renewed every two years. It is not necessary to live in Spain in order to retain and renew the residency visa permit.
- Upon the fifth year of the residency visa permit, the applicant can now apply for permanent residency.
- On the tenth year the the applicant can apply for Spanish citizenship. The Spanish government no longer requires full time residence in Spain to meet the citizenship requirement. Multiple exits are possible as long as the trip does not last longer than six consecutive months. This means that applicants only need to travel just twice a year to Spain.