[vc_row][vc_column][vc_column_text]Spain has many different market attractions and because of that, the country greets 80 million foreign visitors per year, the second highest number in the world. The Iberian country is recovering fast from the economic crisis and the price of a property is starting to show clear signs of recovery. As a result Spanish real estate is hot property once again. After many years of economic decline, the investment in property in the Spanish market is attractive to many investors from other countries.
Why Property Investment?
Spain is ranked as one of the top 10 countries for investing in real-estate and the following, are the main reasons why we consider that having a property in this country is one of the smartest investments you can make.
- Requirements to request a mortgage are becoming less strict, the families need less monthly incomes in order to buy a property, which generates more buying-selling activity in the market.
- Has benefited from massive EU subsidies over recent years, allowing for significant improvements in the infrastructure away from traditional resort areas.
- Property value is rising and will continue to do so. Also the Spanish citizens that hesitated to buy properties during the crisis will tend to acquire them during the following years.
- The country has 3,085 miles of coastline on the Mediterranean Sea and the Atlantic Ocean, offering some of the best and safest bathing environments in Europe.
- Average temperatures on the south coast of Spain are 14ºC during the winter months and 26ºC during the summer.
- Has established impressive road, rail, sea and air links with the rest of Europe and beyond.
- Due to the high levels of construction, there will always be projects looking for substantial early investment to fund a project. This gives larger scale purchasers the opportunity to invest with certain guarantees on sales returns at an early stage
Are there any restrictions on foreign investment in real estate?
Not at all. The most common real estate investors in the Spanish market are property investors and international investment funds.
Of Spain’s 22 million home owners, 3.8 million are foreigners with this figure predicted to keep increasing. Spain has enshrined the principles of freedom of establishment and non-discrimination, and there are thus no legal restrictions to foreign investment.
Nonetheless, special zones of interest for national security reasons may require express authorisation; as may case coastal zones and islands where foreign property ownership can be limited to a certain percentage. A purchase in Spain is relatively low in complexity as this is one of the more substantial markets in Europe and a well established process is in place.
How can Lexidy Help?
At Lexidy we can guide you through the acquisition of your property with due diligence reports and other documents you may need in the future. Contact us and get a free consultation!