Spain is a country that offers a wonderful quality of life, good weather, great cuisine, and a rich cultural heritage. For these reasons, many people from all over the world are attracted to the idea of moving to Spain. If you are considering making the move, one of the things that you may want to explore is the Spanish property market. The country offers a wide range of properties, from luxury flats for sale in Spain to spacious villas. In this article, we will explore the Spanish property market, what to expect, and what you should know before making a decision on buying a property.
Permanent Residency in Spain for Buying Property
One of the main advantages of buying property in Spain is that it can make it easier to obtain permanent residency. The Spanish government offers a Golden Visa Program, which grants residency to foreign investors who buy a property worth at least €500,000. The residency allows the holder to travel throughout the Schengen area, which includes most of Europe, without a visa.
In addition, if you are a citizen of an EU country, you can buy a property in Spain without a special permit. However, if you are not an EU citizen, you will need to apply for a foreigner identification number (NIE) before buying a property in Spain.
Which Property to Buy: Apartments vs Villas
When considering the Spanish property market, you have the option to choose between apartments or villas. Apartments and flats are generally less expensive and easier to maintain. They are ideal for people who want to live in a city or near the coast. Apartments are also popular with investors who want to rent out their properties.
The type of property you choose to buy in Spain will depend on your lifestyle preferences, budget, and family size. Apartments are a popular option, especially in urban areas such as Madrid, Barcelona, and Valencia. They are relatively affordable and offer easy access to amenities such as shops, restaurants, and public transport. In addition, they are easy to maintain and can be a good investment, as there is always demand for rental properties in these areas.
On the other hand, villas are an excellent choice for those who value privacy and space. They are often located in quieter, more scenic areas, such as the countryside or coastal regions. They tend to be more expensive than apartments but offer more living space and often come with a private pool, garden, or terrace. Villas are ideal for those who are looking for a second home or a retirement property.
Check Real Estate Prices in Spain via Online Aggregators
Before you start your property search, it’s essential to research the Spanish real estate market and check the prices of properties in the areas you’re interested in. One of the best ways to do this is by using an online aggregator such as Spain-Real.Estate. This website allows you to search for properties by location, price, and property type, and it provides detailed information about each property, including photos, descriptions, and specifications.
Future Spanish Real Estate Market Trends
The Spanish real estate market has experienced ups and downs in recent years, with the most significant downturn occurring during the global financial crisis in 2008. However, the market has since recovered, and property prices have been steadily rising since 2015.
Experts predict that the Spanish property market will continue to grow in the coming years, as the country remains a popular destination for expats, retirees, and investors. The COVID-19 pandemic has also increased the demand for properties with outdoor space, such as villas and houses with gardens and terraces.
Benefits of Moving to Spain for Permanent Residence
Moving to Spain offers a range of benefits, from the warm climate and beautiful landscapes to the relaxed lifestyle and rich culture. Spain is a popular destination for retirees, as it offers a high standard of living at a lower cost compared to many other European countries.
The country is also known for its excellent healthcare system, which is both affordable and of high quality. Spain is also home to some of the world’s best beaches, with over 5,000 miles of coastline and plenty of opportunities for water sports and outdoor activities.
Spain is also a great place for food and wine lovers, with a diverse culinary scene and a rich history of winemaking. The country is famous for its tapas culture, with many bars and restaurants offering small dishes and drinks at affordable prices.
Moving to Spain can be an exciting and life-changing decision, and the country’s property market offers a range of options to suit every lifestyle and budget. Whether you’re looking for an apartment in the heart of the city or a villa by the beach, there is a property to suit your needs.
Before making any decisions, it’s essential to do your research and use online aggregators to check prices and compare different properties. With the Spanish real estate market predicted to continue growing in the coming years, investing in Spanish property could be a smart move.