British homeowners in Spain can still apply for a Golden Visa and potentially avoid needing a fresh €500,000 – this is how

British homeowners in Spain can still apply for a Golden Visa and potentially avoid needing a fresh €500,000 – this is how

SPANISH prime minister Pedro Sanchez recently announced his intention to cancel the Golden Visa scheme.  The Socialist PSOE leader said the move would stop speculation of the property market. The programme grants any foreigner residency if they buy a home worth €500,000 or more.  The law was approved in 2012 in the middle of a recession following the real estate crash in 2010. Its main aim was to reactivate the Spanish property market and attract foreign investors to buy all the real estate portfolio left with the banks, especially in those days when prices were extremely low and economies were suffering across the EU. During its first years, the main […]

Off-plan checklist: These are the most important things you need to know about the process in Spain

Off-plan checklist: These are the most important things you need to know about the process in Spain

BUYING off-plan is when you purchase a property before it is built. This model has several advantages in Spain, like having more time to save and knowing the property is brand new. However, it is not without its difficulties, including having to wait to move into the house and certain associated risks, like the development being cancelled. It is therefore crucial to be fully aware of the implications and details of this type of real estate transaction before taking the plunge. In the last real estate crunch in Spain, between 2009 and 2012, hundreds of complexes were left unfinished and thousands of buyers lost their investments because developers failed to […]