NEWS Review Words | Adrian Bishop New spring in Spain’s step
For the first time in years, things are starting to look up for the battered Spanish property market
he long-awaited government announcement of the ‘Golden Visa’, under which investors who purchase property worth €500,000 or more can obtain residency, is boosting the Spanish market.
T
Although much higher than the original €160,000 suggestion and not coming into force until the start of 2014, it is generally acknowledged that the Golden Visa is good news. Barcelona-based agent Lucas
Fox is so confi dent it has set up a new company to capitalise on the changes, with Chinese companies already advertising Spanish homes in Shanghai and Beijing, it says. Lucas Fox set up Residency in Spain (
www.residencyinspain.com) in conjunction with a specialist Spanish law fi rm, to give advice and support to clients who want to obtain residency permits through investment in property. It anticipates a surge in demand. Director Alex Vaughan says, “This law is a positive move and will encourage investment in Spanish property from non-European Union buyers. Prior to this announcement the new legislation was already
generating a great deal of interest and once the law goes through we expect a big increase in the number of non-EU buyers coming to Spain.” Also seeing rising numbers of transactions is Marbella’s oldest- established agent, Panorama. Managing Director, Christopher Clover, says luxury properties from €3-8million are selling again and agrees the Golden Visa will help: “This measure is certainly a positive
Hard evidence of significant improvement
one, though late in coming, and will aff ect to a measurable degree investment in Spanish real estate and in Spain itself, through other provisions of the same law.” The fi rm’s 2013 Marbella Report
says that Marbella’s popularity for overseas investors means that: “The real estate market in the Marbella area, rather than continuing its fall like the rest of the country,
is levelling out and improving.” From December 2012 to March 2013 – normally quieter months – Panorama saw record interest, with annual sales enquiries up 36% from 308 to 420. The report includes feedback
from 12 other Marbella agents. More than half said the market has improved signifi cantly since mid- 2012, in all price categories. Others report a more gradual increase in enquiries and sales, and only two smaller agencies say market activity is the same as last year. The report concludes: “There is hard evidence indicating a signifi cant improvement in the market.” It’s a similar tale in neighbouring
Portugal. Prime property agent Fine & Country is promoting the benefi ts of its own Golden Visa, which also off ers residency to buyers of homes over €500,000. It is exhibiting at a Portuguese property show from 9-11 August at the 798 Art Zone, in Beijing, and has already secured sales to Chinese buyers of €25million in just two and a half months. Meanwhile, in a turn-around,
agents and developers from Florida, USA, have been promoting their property at a Spanish property show. The State of Florida was this year’s special guest region at the Spain Incentives and Meetings Association (SIMA) 2013 international real estate exhibition, in Madrid in June, which attracted more than 20,000 visitors. “The Spaniards are very interested
Ticket to good times? 14
in visiting Florida and also buying second homes in our state. They’re happy to hear that both home sales and prices have been going up, meaning it’s a good time to invest,” says 2013 Florida Realtors President Dean Asher.
www.opp-connect.com
A big boost has come from the long-awaited government announcement of the ‘Golden Visa’, under which investors who purchase property worth €500,000 or more can obtain residency.
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80