Investing in real estate in Spain

Sunny and attractive Spain is a country with a bright color and the best hospitality. Today, this is the most popular tourist destination, which annually attracts crowds of visitors. Accordingly, the interest of foreign citizens and investors in Spanish real estate increases. The local market, especially in large resort towns, is now experiencing rapid development. But private houses in small settlements or villages enjoy the greatest demand, however, prices are slightly higher than in resort towns. Investments in real estate in Spain constantly remain in trends not only among European countries, but for inhabitants of the territories of Ukraine and the Russian Federation. And of course, investors in the initial stages must first take into account some of the nuances before investing in housing.

Investing in real estate in Spain

Why invest in Spanish housing

Before proceeding to the choice of location, type and directly investing funds, it is necessary to first understand the purpose of this action. There are three main reasons to invest in real estate in Spain:

  • residential buildings located on the coast, are very popular among many tourists from all over the world;
  • it is a guarantee of receiving benefits and profits from investment deposits, as well as the acquisition of highly liquid assets;
  • the desire to do business in a highly economically developed country, with a high standard of living and a stable social position, and a developing infrastructure.

Local housing, in addition to the attractive appearance and aesthetic pleasure, allows you to feel the difference between the usual economy of Ukraine or Russia. It should also be noted that the bureaucracy is no less developed here. But otherwise the birthplace of bullfighting has a higher level of development.  

Investing in real estate in Spain

For immigration, each person has different goals - employment, opening a business enterprise or a simple desire to change the surrounding area. Regardless of this, one of the most important conditions of legal residence in the country is the presence of a residence permit. However, which is very convenient, it is easily drawn up when buying a home in an amount exceeding 500 thousand euros.

Also one of the objectives of the investment is the possibility of putting the object in the short-term or long-term lease for other visitors in the tourist season. This option brings the owner a fairly good annual profit, even taking into account taxation and some expenses. Thus, the funds for the purchase can be returned in about ten years. Although, given the rapid rise in prices, a return is possible much earlier.

Investing in real estate in Spain

Possible housing types for purchase

Before clearly deciding on the type of building that is planned to be purchased, it is strongly recommended that you familiarize yourself with the full range of existing offers. In this case, there are only three varieties:

  • primary - purchased directly from the developer upon completion of the building;
  • secondary - if previous owners lived before;
  • as well as semi-new - resale without initial settlement.

Often, the last option is considered the most expensive, because sellers are trying to resell the object with obtaining the maximum possible benefit for themselves. But the choice between the first and second is already ambiguous. Undoubtedly, new homes in new buildings, where the latest technologies are used in construction, make it possible to avoid some of the troubles that often arise during the renovation and finishing works in the old. However, heading to Spain to get acquainted with its culture, to feel the color and local atmosphere, you should choose the cozy streets with secondary buildings.

Investing in real estate in Spain

Also Spanish property is offered in the form of private houses, apartments or lofts. The latter is a relatively recent trend that has already gained popularity. It is a converted old residential premises from the field of industry. Thus, Europe is trying to reuse outdated and closed enterprises, factories and warehouses. Their only drawback is that they were not originally intended for permanent location and human life, and therefore require a special approach for repair work.

Depending on the state, free and socially protected real estate is allocated. Their difference lies in established prices, which are often more loyal in the second case.

Investing in real estate in Spain

Which region to choose

It should be borne in mind that all prices depend on a list of all sorts of factors, including the location of the building, which has an unimportant role. Among the most common among investors regions, are Catalonia and Valencia. Not surprisingly, they are filled with the best elite and quiet resort cities, where everything is provided for a better life or rest. Undoubtedly, proximity to the sea also affects pricing. Thus, apartments located closer to the central part will be somewhat cheaper, and villas or mansions along the coast will be more expensive. But from the windows offer stunning views of the cleanest beaches and azure-blue sea. There is no need to worry about restless neighbors, since such cities often choose wealthy individuals who value peace and quiet for living.