According to ons.gov.uk the average house prices in England increased to £292,000 (9.4%) over the year. This got me thinking especially when the euro at the time of writing was 1.20e to the pound.
This would make the average house price in England around 350,000e. Of course, 500,000e is a huge amount of money but once we factor in the high rates of inflation in the United Kingdom and Spain the Golden Visa in Spain is becoming more achievable and some people who are considering moving to Spain in 2022 may have not considered it.
If you are buying in Spain for the golden visa you will need to buy one or more private or commercial properties for a total of at least 500,000e exclusive of taxes. This means that you can live in one property and rent the other property or properties if you so wish. Subject of course to the necessary licence and taxes.
Why have a golden visa in Spain as opposed to the non-lucrative visa? Well with the golden visa you can get residency for all your family and you can work. Whereas the NLV does not give you the right to work in Spain post Brexit and it has to be renewed after 1 year. Although renewal is not really an issue.
Of course, this is not legal advice and these are complex legal matters and you should contact us before you make the move to Spain. We can help with buying in Spain but of course, don’t sign or pay before you’ve taken advice. We have 30 years of legal experience.
Marisa Moreno lawyer and Danish Consul
Since 1992 www.justlawsolicitors.com
Malaga – Fuengirola – Marbella & online.