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Balearic Properties Following the Elimination of the Golden Visa in Spain

Recently, the Spanish Government has decided to end the Golden Visas for property purchases, a measure that will significantly affect the real estate sector. At Balearic Properties, although we are aware of this new reality, we remain committed to providing the best advice and properties to our international clients.

What is the Golden Visa? The Golden Visa was a residence and work permit in Spain obtainable through a real estate investment of at least 500,000 euros. Originally implemented in 2013, this visa has been a crucial tool for attracting foreign investment. However, the government is now looking for new ways to manage this investment without negatively impacting access to housing for Spaniards.

Golden Visa in Spain: The Current Situation

The elimination of the Golden Visa for real estate investments of 500,000 euros represents a significant change, but there are still other avenues for obtaining residence in Spain, such as investments in public debt, shares of Spanish companies, investment funds, bank deposits, or business projects of general interest.

Why is this measure adopted? The decision to eliminate the Golden Visa aims to prevent real estate speculation and protect the right to housing, especially in cities with high demand such as Barcelona, Madrid, or Alicante. Although the impact of the Golden Visa on the overall real estate market is limited, the government considers its elimination necessary to preserve the quality of life for local residents.

Impact on Balearic Properties and the Spanish Real Estate Market

At Balearic Properties, we understand that this measure might deter some foreign investors. However, we will continue working to find the best solutions and alternatives for our clients, ensuring that they can make safe and profitable investments in our beautiful islands.

Additionally, we will continue to closely monitor the situation and adapt to new regulations to offer the best possible advice to our clients. Although the Golden Visa has been an important vehicle for investment in Spain, at Balearic Properties, we believe the future remains bright for those wishing to invest in luxury properties in the Balearic Islands.

At Balearic Properties, we recommend that any investor interested in the Spanish real estate market get proper advice and consider all available options under the new regulations. Despite the changes, Spain remains an attractive destination for real estate and residential investment.

By Iris Gruenewald
Founder

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