Spain is the seventh destination most favoured by the Chinese
Foreigners buying property in Spain has become very popular. Spain has become also a popular destination for the middle-class Chinese citizens to buy real estate. According to Juwai, the largest property portal in China, Spain is the seventh preferred destination after USA, Australia, Canada, UK, Thailand and New Zealand.
The most attractive areas are Barcelona and Madrid, as well as others like Valencia and Marbella, for the competitive prices and touristic interest that those cities offer.
Interest to buy properties in Spain by foreigners seems to increase due to the investment opportunities on offer and the fact that Spain (also its culture and life in general) is becoming more known in China. Due to the low European interest rates, now is a good time to buy property in Spain. There is very wide selection of properties, from farmhouses and plots, to villas or new apartment developments in the main cities, also offices and hotels.
Main facts to decide to invest in Spain are: By one side, property prizes moving in a rising way could bring profits within the following years and also the possibility to take advantage of the “Golden Visa” which allows non-EU nationals to obtain a residency permit in Spain if the investment on a property valued in 500.000 € or more.
For this reason, Spain is becoming a preferred destination by Chinese investors. To get the most out of buying a property in Spain, we recommend, once you have decided the area for the investment:
- Visit the property before you make a decision
- Check what amenities the property has such electricity, water, gas.
- If you have any doubt have a builder or architect to examine the building.
- Have your legal advisor check ownership of the property before you sign any contract.
- Have your legal advisor check outstanding debts on the property before you sign anything.
- Have your legal advisor in order to submit all the paperwork and obtain the residency permit “Golden Visa” by the Spanish authorities.