Prospective house buyers flock to Spain to eye up investments

  • 11 years ago
  • Uncategorized

 sector is being boosted by an influx of visitors entering the country with the intention of looking for property in which to invest, reports

New visa rules combined with low property prices are encouraging people to take holidays in the country in order to eye up possible investments.

On October 1 2013, a rule was passed which granted a residency permit to any non-EU national coming into Spain with more than 500,000 Euros to invest. Many have chosen the safe route by putting their money into property with the hope of their assets rising in value once the country’s economy picks up.

This amount doesn’t have to be pledged to the purchase of just one property, reports, as those seeking permanent residency can build up their total by investing in a number of houses. Meanwhile low prices of property around Spain continue to act as a draw for UK buyers.

Figures from the Spanish tourism ministry reveal that over eight million people visited Spain in August alone, with this boosted by people undertaking trial runs of what could become their new life.  

Russian visitors increased the highest over August – the number jumping by 30 per cent to hit 838,876 between January-July of this year.

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