If you are interested in knowing how to sell your property in Spain over 500,000 euro there is a good chance you are selling to a buyer looking the Golden visa in Spain. Many of these buyers see this as the gateway into Europe. The applications for residency in Spain have almost doubled in February 2015 and the number of positive approvals have increased to over 500. Sales of high end property to cash rich foreign buyers has increased by 22% in the first quarter of 2015 according to the Council of Notaries
Sale of property in Spain in 2014 showed that over 70,000 properties were sold across Spain and over 50% of the sales were made by non residents. A few of these properties were sold to buyers who spend over 500,000 euro and this can be on the sale of one property or a number of properties in Spain. The Golden Visas are issued for 1 year with the hope of extension and usually further investment can improve the chances of the visa being renewed.
So who is spending the money you ask? Well purchases by cash rich Chinese buyers increased over 400% followed by cash rich Argentines. Russian buyers continue to dominate the market though and we seen an 8% increase in the sale of Spanish property to cash rich Russians in Alicante and the Costa Brava. The average sale price to a Russian buyer was just over 700,000 euro as they are looking the elite and very private exclusive homes. In comparison to last year the most active buyers were British, German and Belgium property buyers with the demand for luxury property coming from the Chinese and Russian buyers looking the residency permit.
The Spanish government have also now extended the terms of the Golden Visa making it easier for Business men and women to obtain the residence permit. The aim is to attract the whole family of the business man so they move their life and money into the banks in Spain helping to improve the economy. Meaning the new 4447 foreign buyers now have the right to stay in the country.
DNDLAW Solicitors
Donnelly Neary & Donnelly offer a full range of legal services including Conveyancing Tax Commercial Criminal Family Law Divorce Wills Probate Immigration Notary Public from offices in Newry Castlewellan Dublin Portadown serving all of County Down Armagh and Belfast
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