As you may have read or heard, Spain’s economy is experiencing a robust upswing, making it an opportune time to invest in the property market. In 2024, the country’s GDP grew by 3.2%, surpassing both official forecasts and the eurozone average. This growth is attributed to a tourism boom, a strong agricultural sector, increased exports, and – in our opinion – a lot of common sense since we all came off the back of Covid. Well done Spain!
The property market has significantly contributed to this economic expansion. Spain recorded the highest increase in household disposable income among OECD countries in the third quarter of 2024, with a 2.2% rise from the previous quarter. This surge is primarily due to increased income from property assets, including real estate, interest, and dividends.
For international investors, Spain’s Golden Visa program has been a significant draw. Introduced in 2013, this initiative granted residency to non-EU citizens who invested at least €500.000 in Spanish real estate. However, the program is set to conclude on April 3, 2025, following concerns about its impact on housing affordability and availability for local residents.
Given the impending end of the Golden Visa program, now is a strategic time for foreign investors to enter the Spanish property market. By acting promptly, investors can still benefit from the residency advantages associated with the program while capitalising on the current favorable market conditions.
In summary, Spain’s strong economic performance, coupled with a dynamic property market and the limited window for the Golden Visa program, presents a compelling case for investing in Spanish real estate at this time.
Contact us, and we’ll find you your property, arrange the finance and all the legalese.
