However in the past few months, popularity in investing in Spain has increased as low prices have stimulated growth in the country. This coupled with the fact that Non-EU residents will get automatic residency if they spend over £500,000 from July 2013 has increased interest from people living in Asia, Russia and China.
Foreign investment in the Spanish housing market has increased by 17% in 2012, according to the bank of Spain, a figure not seen since 2004. With most Chinese buyers wanting to invest in Barcelona, as they know they will not only get a great investment on returns but also automatic residency.
Barcelona, Ibiza, Catalonia and the Balearics are the most popular investment areas for overseas investors.
We have found a three bed apartment with views over the sea (as per the photo) and with a communal pool for €410,000 at today’s exchange rate £355,388 it has a terrace with two bathroom and is close to restaurants. For more information please visit this website @http://www.kyero.com/property/2055525-apartment-for-sale-sitges
Although there has been an increased interest in property in other areas of Spain it is worth approaching a Spanish house investment with caution, as a country that has been bankrupt, has mass unemployment and a growing water shortage should be handled with care.
If you would like to talk to our team about investing in Spain or in a property abroad why not contact Enable today.
Issued by: Enable Independent Financial Life Planners 25c North Street, Bishops Stortford, Herts CM23 2LD Telephone: 01279 755950 - Fax: 01279 657339 Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority. It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us. NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE.
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