Luxury Spanish Property Boost with 500,000 Euro Golden Visa Approval

29 May 2013

So it’s finally official Spain has set the level of its so called Golden Visa at 500,000€ which will be a big boost to the Luxury Spanish property market in top locations such as Mallorca and Marbella but is unlikely to benefit many of the other areas of Spain especially Costa Blanca and Valencia in Particular according to Nick Stuart Managing Director of Spanish Hot Properties.

Whilst there is no doubt that the fact Property owners from Russia and China will now find it easier to visit their Luxury Spanish properties the new law will not really help the recovery of the Spanish property housing market said Nick. In reality the people paying above 500,000€ were always likely to be approved for residency if they wanted it and the new law just makes it easier. It will help a few but it’s a great opportunity lost and if the government had set the level at 300,000€ there is no doubt it would have had a very positive impact on the Spanish Housing market. To my mind the Spanish government bottled it said Nick.

Those needing advice on how the new law will help or affect their future Luxury property ownership in Spain should contact Spanish Hot Properties for help and advice.

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