The Spanish Golden Visa program has been enticing investors to the country since 2013. The program has been particularly popular with investors from China and Russia.
However, in recent years the UK and The USA have become major markets for investors. Since the program’s inception, the Spanish Government has raised more than 3 billion in investment. The government has announced its plans to close the program due to a crisis in increased housing prices meaning 2024 could be your last chance to get your hands on some Spain Golden Visa Real Estate!
See also: Spain Golden Visa 2024 Guide
Spain Golden Visa Investment Options
To qualify for the Spain Golden Visa Program applicants must make one of the following investments:
Spain Golden Visa Real Estate Investment: An investment of at least €500,000 into Spanish real estate.
Bank Deposit: An investment into a Spanish Bank Account of at least €1 million
Government Bonds: An investment of €2 million in Spanish government bonds.
Capital Investment: An investment of €1 million in shares of a Spanish company.
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Spain Golden Visa Real Estate Investment Rules
The rules for the Spanish Golden Visa Real Estate option are pretty straightforward. The minimum investment is €500,000 and the investment can be either in a singular or multiple properties.
Investors will need to show the source of their funds and these funds must come from outside of Spain. A local mortgage cannot be used to finance the investment. Regarding the type of property, investors are free to invest in both residential and commercial real estate.
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Why Invest in Spain Golden Visa Properties?
Golden Visa Eligibility: As discussed by investing in Spain’s Golden Visa properties foreign nationals can be eligible to apply for the residency.
A Second Home: Purchasing a second home in cities like Madrid, Barcelona, and Valencia is a dream come true for many of our clients. Investors can come and go as they please using their real estate investment for personal use as either a second home or main residence.
Diversify your investment portfolio: The importance of diversifying one’s investment portfolio cannot be underestimated. Investing in Spain’s Real Estate market is generally considered a low-risk investment with the potential for steady growth.
Strong Capital Appreciation Potential: The value of the Residential Real Estate market market in Spain is projected to reach US$5.69tn in 2024. Annual growth is forecasted at an average of 3.41% for the next 5 years.
Tourism Hotspot: Spain is one of the hottest tourist destinations in the world receiving 85 million tourists last year making it the second most visited country in the world. This first half of 2024’s numbers have been even stronger and Spain is on track to hit a record number of tourists by the end of the year.
Short-Term Rental Returns: The above point explains the high short-term rental yields in Spain. Barcelona and Valencia are two cities to out peform the rest of the market. However, Barcelona is starting to place limitations on the number of short-term rentals allowed in the city.
High Rental Yields for Commercial Real Estate: Commercial real estate is proving to be the most lucrative opportunity for investors. In Barcelona, rental yields for commercial premises reach an average yield of 8.5%. Office space was close behind with a 6.6% return on investment for the year.
Tax Breaks: There are some tax breaks offered to property investors in Spain. Spanish residents for example can reduce their rental income tax by 60% by deducting running costs, maintenance, and municipal taxes.
Book A Consultation Why Invest in Spain Golden Visa Properties?
Golden Visa Eligibility: As discussed by investing in Spain’s Golden Visa properties foreign nationals can be eligible to apply for the residency.
A Second Home: Purchasing a second home in cities like Madrid, Barcelona, and Valencia is a dream come true for many of our clients. Investors can come and go as they please using their real estate investment for personal use as either a second home or main residence.
Diversify your investment portfolio: The importance of diversifying one’s investment portfolio cannot be underestimated. Investing in Spain’s Real Estate market is generally considered a low-risk investment with the potential for steady growth.
Strong Capital Appreciation Potential: The value of the Residential Real Estate market market in Spain is projected to reach US$5.69tn in 2024. Annual growth is forecasted at an average of 3.41% for the next 5 years.
Tourism Hotspot: Spain is one of the hottest tourist destinations in the world receiving 85 million tourists last year making it the second most visited country in the world. This first half of 2024’s numbers have been even stronger and Spain is on track to hit a record number of tourists by the end of the year.
Short-Term Rental Returns: The above point explains the high short-term rental yields in Spain. Barcelona and Valencia are two cities to out peform the rest of the market. However, Barcelona is starting to place limitations on the number of short-term rentals allowed in the city.
High Rental Yields for Commercial Real Estate: Commercial real estate is proving to be the most lucrative opportunity for investors. In Barcelona, rental yields for commercial premises reach an average yield of 8.5%. Office space was close behind with a 6.6% return on investment for the year.
Tax Breaks: There are some tax breaks offered to property investors in Spain. Spanish residents for example can reduce their rental income tax by 60% by deducting running costs, maintenance, and municipal taxes.
Contact Us Commercial Vs Residential Real Estate in Spain
Where to invest in Spain?
Spain offers numerous attractive real estate markets throughout the country from the major cities of Barcelona and Madrid to smaller coastal towns and islands like the Balearic Islands. Our top destinations for Spain golden visa real estate investors in 2024 are as follows:
Madrid: The Spanish capital as you would expect has a strong expat community and business appeal both of which contribute to a stable real estate market with high rental income on both residential and commercial property. Madrid offers opportunities for both short- and long-term rentals.
Barcelona: Barcelona is not only a popular tourist destination but also a thriving start-up hub. Commercial real estate performs particularly well in Barcelona as do short-term rental properties due to the large number of tourists and digital nomads. That said, the municipality is cracking down on short-term rentals announcing that they will cease issuing new licenses for short-term rentals and stop renewing permits by 2029. Investors are therefore better off focusing on commercial properties and long-term residential apartments.
Costa del Sol: The Costa Del Sol in particular Marbella is popular with expats, digital nomads, and retirees. Given the year-round sunny weather, there is stable demand throughout the year. Marbella’s luxury segment is performing particularly well.
Valencia: Valencia is a charming coastal city and much more affordable than Barcelona and Madrid. Property prices are lower and the city provides investors with excellent rental yields. Again the city is becoming increasingly popular with digital nomads and retirees.
Contact UsInvestors who purchase a minimum of €500,000 worth of commercial real estate in Spain are eligible to apply for the Spanish Investor Visa
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Contact us for more information on our Spain Golden Visa Properties or reach out for a consultation to explore your journey to Spanish Residency.
