As a lawyer here in Spain specialising in buying a property in Spain, a lot of clients ask me about property prices. As you would expect the number of foreign buyers in Spain drives up prices. In Spain foreign buyers bought 4.5% of all properties sold in Spain.
The College of registrars says that foreign buyers spending 500,000 euros, which is the Golden Visa amount has increased by around 60%. Buyers from the UK bought the most property in Spain despite brexit. Of course it is the main tourists areas like the Costa Del Sol, Alicante and tenerife where the majority of the sales are made. The average price of a property In Spain is nearly 200,000 euros a rise of nearly 5%.
So what if you are for example a UK citizen thinking of buying a property in Spain? Well if you own your own home and are thinking of selling it. According to http://www.gov. uk the percentage change is 12.6% in the year to October 2022. Therefore it looks like your UK property value is going up faster than property in Spain.
As always if you are thinking of moving to Spain in 2023 or even buying a holiday home in Spain take independent legal advice like you would in the UK. it looks like property prices in Spain have increased. Choose your own Spanish lawyer, before you come and live in Spain. At Just Law Solicitors we have been helping clients buy in Spain since 1992. We include the NIE number and opening the Spanish bank account. Be careful of Capital Gains Tax in Spain if you sell your house in the UK or anywhere and move to Spain and become a Spanish tax resident. We have Spanish qualified tax advisors and Accountants. we can also help with visas, like the non lucrative visa, the golden visa and the digital nomad visa,
Marisa Moreno Castillo Lawyer and Consul for Denmark. www.justlawsolicitors.com Have a look at our facebook and instagram pages.
Malaga – Fuengirola – Marbella and online since 1992. Your lawyer in Spain.
Is this the end of the Golden Visa in Spain?