For travelers, for investors, or for individuals thinking about purchasing a 2nd home, Spain is one of the first destinations that springs up in one’s mind. Taking into consideration the country’s welcoming climate, it is not surprising that Southern Spain has become an extremely popular spot for Europeans, trying to find a vacation or retirement home in the sun. Other advantages that Spain offers for property investors are the minimal living costs, the slower-moving pace of live, as well as the great tourist destinations, such as Granada and Seville. All these facts about the country and its real estate prospects raise expectations for stable rental income flows and a good capital return.
Investing in Spain – what and where?
Real estate in Spain is made up of the kinds of houses most people envision, when it comes to purchasing property. Mountain view on one side, olive tree garden and the sound of waves on the other is something you can easily come across among the real estate offerings for Spain. The preferred locations amongst property investors are Barcelona, Valencia, Madrid, Granada, Andalucia, Seville, Malaga and a great many others. Still, the most common real estate property ventures are obviously the Coasts.
Golf courses and city apartments are not all that this country has on offer, though. There are areas such as the Andalucian hinterland, the Bay of Biscay, Costa de la Luz, and Costa Azahar that will amaze you with their secludedness and centuries-old lifestyle. Still undiscovered by the foreign tourists, these destinations can open up interesting prospects for discovering unique property investment opportunities in Spain. For those, who cannot part with the luxuries of the day, Costa Blanca and Costa del Sol regions of Spain’s Mediterranean coast represent another interesting option.
Buying Property in Spain
Buying real estate in Spain is a great idea for a variety of good reasons. Spanish constitution assures that your property is your private residence only, regardless of citizenship. Furthermore, purchasing real estate in Spain provides you with the right of residing in the nation for ninety days every six months. Additionally, you can renew your visa yearly for a limitless amount of times. You can find very good financial loan conditions in Spain and you will be able to acquire property right after having settled the initial transaction.
What amount would you have to pay for real estate in Spain? Since there are seventeen regions, cost deviations are usual and expected. Prices vary between $120,000 for village houses and small apartments to $431,000 and $645,000 in Costa Blanca, Costa del Sol, Majorca, and Ibiza. Another useful piece of advice would be to take your time once you have decided that real estate in Spain is what you are hunting. Although certain properties sell out in the blink of the eye, others stay on the market for months to come, because the owners are expecting unrealistic chunks of money.