Golden visa boosts purchase of luxury housing in Spain2 min read

After the impact suffered by the pandemic, the real estate sector in Spain has been recovering positively, recording higher figures for home sales and purchases than pre-pandemic.

A mayor role in the real estate recovery of Spain have played the private buyers and investors interested in luxury properties located in large cities such as Madrid and Barcelona, on the islands and in coastal areas. Popular are the properties with outdoor areas such as gardens and swimming pools, larger spaces and leisure areas, and in the case of luxury housing, with added services and values such as heated swimming pool, security, home automation and high quality finishes and materials.


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Spain, the place to be

Spain is very popular under foreigners looking for luxury properties in prime areas of large cities, islands and coastal areas. The easing of travel restrictions and increased international mobility has boosted the reactivation of foreign investment in Spain, and in particular the demand in the luxury housing market by those with high purchasing power. Especially destinations with sun, coast and good weather, and which offer them a good range of services, gastronomy, culture and leisure like the Mediterranean coast and the Canary and Balearic Islands.

Meanwhile cities as Madrid and Barcelona attract the attention of Europeans and other foreigners from Asia and Latin America. They buy properties both for themselves and for investment purposes. In fact, in Madrid initiated a variety of luxury housing developments in prime areas such as Chamberí, Salamanca, Retiro, Centro and Chamartín.




The golden visa

When it comes to the group of people that buy luxury real estate in Spain,  there is a raise of  young millennial entrepreneurs, creators of startups and successful people in the technological world who have a high purchasing power and are interested in buying homes that meet certain quality standards in Spain.

There is also another group of non-European foreigners who are looking for properties worth more than 500,000 euros. Because that will allow them to obtain a Residence Visa to stay legally in Spain. This is called the Golden Visa. 


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