The stats for the property market sales transaction numbers in Spain, and particularly in Andalucia, are out for April and they are up 29 percent year-on-year after a dip in March. On the ground in Marbella, Cloud Nine Spain noticed a change in the quality of their leads, with a significant increase in the number of serious and motivated buyers who were getting in touch.
This translated into more than 13 million euros in property sales in May alone and a very strong June so far, that might even top this figure.
There are no clear reasons for this, as there are so many different things that affect the property market here in Spain, as Cloud Nine Managing Director Sean Woolley said. “We’re dealing with a second home market that is really governed by people overseas and it very often depends on what’s happening in their own home countries. So, we had a flight of capital over the last 12 months from Eastern Europe and now we’re seeing an influx of buyers from the US again, with buyers trying to snap up the Golden Visa before it gets pulled.”
Some of the team have even been selling properties over the phone, where buyers have accelerated their plans and decided to take the plunge to avoid missing out, Sean said.
Predictions for the rest of the year for Cloud Nine Spain are positive, with a strong June, thanks to April’s lead performance and before the school holidays get under way. The market is currently stable, with few price fluctuations and no signs of distress in the market, plus continued buyer interest, so the signs are good for a strong second half of the year.
Cutting through the misinformation about the Golden Visa
Sean Woolley has been surprised by the media representation of the Golden Visa and the misinformation out there about what the changes mean for non-EU buyers. There was a lot of negativity and spin which caused panic and anger in some sectors in the UK in particular.
This has caused Sean and the team to seek information from lawyers on what the changes actually mean for non-EU buyers. They are appealing for calm and want to make clear that this is not the end of the Spanish dream for non-British buyers.
“While the scrapping of the Golden Visa will make buying a property in Spain a little tougher for those
living outside of the EU and looking to make a permanent move to Spain, it isn’t impossible! Most of our non-EU buyers have been happy to abide by the 90/180 access rule, or use one of the other visa options available.”
These options include the recently introduced Digital Nomad Visa, for any foreigner planning to live in Spain as a resident, working remotely as a freelancer, or for a company in another country. There’s also the Non-Lucrative Visa, popular with retirees. In this case, you need to prove your ability to financially support yourself and you need to be resident in Spain for at least 183 days per year.
Finally, there is the Entrepreneur Visa, which is right for people who want to stay in Spain and build a business. This requires application to the Spanish government and a solid business plan, to prove your idea is a strong one.
“As you can see, there are alternatives to the Golden Visa, so there’s no need to give up on living the Spanish dream!” Sean said.
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Cloud Nine
Cloud Nine Spain is a real estate firm based in Marbella, Spain specializing in luxury properties.
