There is a lot to love about Spain. The country has some of the best art museums, beaches and food in the world. And that’s only a start. The country is one of the most diverse in Europe with renowned schools and affordable healthcare among the reasons buying Spanish real estate is something more Thai buyers are considering.
And it is not just those seeking a little slice of Spanish living buying property in the country. Buoyed by strong returns and a promising economic situation, investors see Spain as an attractive place to purchase real estate.
Jesus Hernandez, Managing Director at ZhiyeSpain, has helped buyers from China find their dream home in Madrid and Barcelona. The company is now looking to expand its efforts to Thailand and Southeast Asia. Buyers in the region have normally looked to Australia or the UK when considering an international property investment, but Hernandez believes buying Spanish real estate is an affordable alternative.
“Spain’s Golden Visa programme has proven to be popular with Asian buyers as it has given them a chance to live, study and work in Spain. It also allows them to travel freely in the EU, something that is not so easy with a Chinese or Thai passport,” Hernandez stated.
Living the Spanish life
Some people buying Spanish real estate are end users while others see it as an investment. Those in the former category are attracted to the country for a number of reasons. Among these is the opportunity to enroll their children in the country’s highly regarded education system.
International schools in Spain can be cheaper than in places like China and Thailand. The education also is better in many cases. Schools offer classes in both English and Spanish meaning language won’t be an issue.
“Spanish is a language spoken by more than 500 million people worldwide. It is the official language of more than 20 countries. In Asia, Spanish is a language that isn’t promoted as much despite the fact it is one of the six official languages of the United Nations,” Hernandez pointed out. “A lot of families who move to Spain from Asia are able to introduce their children to Spanish, English and their native language. This can be quite beneficial when applying for university. It also opens up more doors professionally.”
In terms of higher education, Spain boasts some of the best universities in the world. The country has three MBA programmes, Iese Business School, IE Business School and Esade Business School, ranked in the global top 20 by the Financial Times.
Of course, Spain has a lot more to offer than a great educational system. Healthcare, diversity and culture are among the reasons property buyers from Asia choose to relocate to cities like Madrid or Barcelona.
“Spain has a great quality of life that is also affordable. It offers a relaxed environment and is a very diverse country,” Hernandez said. “It’s geographically diverse with mountains, beaches and plenty of parks. Spain has one of the largest Chinese populations in all of Europe and is very welcoming of all cultures. Diversity can be found all around the country in many forms.”
Impressive ROI another reason to consider buying Spanish real estate
Some buyers from Asia choose Spain for the lifestyle. Investors on the other hand see the country’s real estate market as one brimming with potential. Of all of the countries with “Golden Visa” schemes, Spain is the most developed and its economy has rebounded in the past few years. In 2016, it was first in the EU for GPD growth and the situation continues to look promising.
“We at ZhiyeSpain are able to guarantee investors who purchase a property from us a guaranteed return of four to seven percent for a set time period, which is quite good,” Hernandez said. “We offer a number of different products to investors to ensure they are able to get the most from their purchase.”
Getting the visa after buying a property
Once you purchase a Spanish property, the process to obtain the visa is actually quite simple, Hernandez explains. You are required to buy a property valued at EUR 500,000 or above. If the property costs more than that amount, you will be required to make a deposit of at least EUR 500,000. After you have passed the vetting process and the money has been received, you will get a one-year investor visa.
In order to receive a temporary residence card, you’ll need to go to Spain once to have a fingerprint scan. Once that has been completed, you will get the card. If you want to receive a long-term residence card, you’ll need to live at the property for four years and two months within a five-year period before applying for it.
Investors who do not live in the unit they buy are unable to obtain a long-term residence permit. However, they are eligible to renew their temporary, one-year residence permit as long as they own the property.
ZhiyeSpain has helped buyers from China and throughout Asia find a home in Spain that meets their needs, regardless of if they are looking for a place to live or a European property for investment purposes.
“We have local knowledge of the market and share this openly with our clients who are buying Spanish real estate. This is important as they aren’t likely to know Spain all that well,” Hernandez said. “We also have experience working with both those considering relocation and investors seeking to diversify their portfolio. This means we have the ability to offer insights on all matters.”
For more information, please visit ZhiyeSpain