There have been 1,189 Golden Visa’s awarded to foreign property investors in Spain in the last two years, amounting to €910.6 million.
The scheme, introduced in 2013, issues residency visas in exchange for investment in Spanish property over the value of €500,000. With bargain properties for sale and the prospect of residency the scheme is an attractive option for non EU investors at the moment. One of the objectives of the scheme is to attract entrepreneurs to Spain to stimulate foreign investment in the property sector, public debt and the creation of jobs.
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The rise in the number of Spanish property sales in November indicates that the market is on the steady road of recovery, even though the number of property transactions is still a long way off reaching pre-crisis figures.
In November 34,918 property transactions took place in Spain, an increase of 7.3% compared with the same period the year before, according to the General Council of Notaries.
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HOUSE sales on the Costa del Sol are increasingly falling through because of ‘greedy’ vendors, according to Estepona real estate company Genius Properties.
Vendors are increasing their sales price at the time an offer is received or even removing their properties from the market entirely, warns Neil Parsons, Managing Director of Genius Properties. Read more »
Enquiries for properties in Estepona and the Duquesa from Spanish buyers are up 187% this year so far compared to 2014, according to Estepona based real estate company Genius Properties. Read more »
The latest Estepona street Mural .
Spotted today whilst still in progress.