AVINTU INTERNATIONAL

SPAIN

Comfortable weather. Rich history and culture. Developed infrastructure.

Spain is considered one of the main destinations in Europe for a beach vacation. Hot dry summer and mild weather in winter, as well as a long coastline make Spain attractive not only for tourists, but also for a large number of expats, primarily from the UK, Germany and Scandinavia. Spain has an interesting culture and a rich historical heritage, world-class museums and beautiful urban architecture, diverse landscapes. Despite the fact that Spain has a well-developed infrastructure and fairly high living standards, the cost of living in this country is lower than in most countries of Western and Northern Europe.

The Cost of Real Estate in Spain

HOTELS | from €200,000 euros
In Spain, besides traditional hotels, it is popular to stay in its many villas and farmhouses that have been converted into B&Bs and small hotels. When buying such properties the price is usually lower than for traditional hotels, while they are very popular among tourists. Such a small hotel or B&B for 5-6 bedrooms, for example, can cost about €200,000 euros or €500,000 euros for 10-12 bedrooms properties.

VILLAS | from €200,000 euros
One of popular regions to buy a villa and convert it into B&B is Barcelona and its surroundings. Prices for 4-bedroom villas there can range from €200,000 to €500,000 euros.

APARTMENTS AND HOUSES | from €30,000 euros
Although in Spain you can find very cheap apartments from €30,000 euros, usually the cost of 2-bedroom apartments in good locations is around €150,000 - €200,000 euros. And prices for detached houses are similar to that.

Advantages of Buying a Small Hotel

Spain is one of those countries that are very attractive not only for tourism but for longer stay and as well. This creates a great need in hotels and rental housing. This mostly applies to the coastal areas, especially around such large cities like Barcelona, Valencia and Malaga.

In addition to advantages of having a profitable accommodation business in Spain, buying a hotel also allows you obtaining a residence permit in Spain through the "Golden visa" program.

Climate in Spain

Due to its more southern location, Spain is one of the warmest European countries. The winter here is quite mild and there is a moderately hot weather during the summer time.

In winter, the average temperature in the coastal areas is around 15°C - 18°C. In summer, the temperatures are in the range of 25°C - 28°C, rising sometimes up to 37°C. The hottest month is August, the sea water at this time warms up to 26°C.

Visas and Residency

Citizens of the USA and Canada do not require visas to enter Spain. Also, as Spain is a part of the Schengen Area, all holders of Schengen visas can freely visit Spain.

Foreigners may stay in the Schengen area (including Spain) up to 90 days within a period of 180 days. In order to stay in Spain above that, as well as to be able to work, you need to apply for a residence permit. One of the ways to obtain it is purchasing a real estate. When you buy properties valued €500,000 euros and more, you can obtain a residence permit, which will be valid for 2 years and can be extended afterwards for another 5 years.

After living in Spain for 5 years, you can apply for a permanent residency, and after 10 years - for a citizenship.

Purchase of Real Estate by Foreigners

When buying real estate in Spain, international buyers have the same rights as local residents. Foreigners can buy, rent and sell property in Spain, just as Spanish residents, without any limitations. Foreign buyers are allowed buying under their personal name that is having a sole ownership over the purchased properties.

Unlike in some other countries where the government is trying to protect the local real estate market from overseas buyers, in Spain the international investment into the local real estate is only welcomed. Particularly, Spain offers a "residency for investment" program "Golden Visa" when purchasing a property in Spain for €500,000 euros and more qualifies you for obtaining a residence permit for 2 years.