Spain has a very strong internationalized economy. It has shown a consistent growth and great business opportunities for nationals and foreign. It is considered the 14th largest economy in the world and the 5th in the European Union. It means strong investment opportunities. Spain holds some of the largest companies worldwide IBERDROLA and INDRA. And two of the largest banks Santander and BBVA. Among many others like Zara and Telefonica, and there are over 12,500 foreign companies making business and stablished in Spain.
Spain’s location and easy access and it have strategic agreements on taxes and trade benefits. After the crisis Spain has done an excellent job structural reform on very important areas as fiscal, labor market and financial system. Also Spain has made a great effort to make business simple and quick
Immigration and foreign affairs
The country has made improvements on visa authorizations for investors and entrepreneurs. Spain is the number one choice for retirees because it ranks number one in terms of quality of life for expats and 3rd ranked worldwide. It has the largest number of international schools in Europe. Also it has one of the best health systems, with very high standards. It ranks 3rd place in tourist arrivals worldwide, which means that the service and hospitality industry as well as Rea Estate are good investments.
Spain is the second place worldwide in longevity, recent study by Eurostat has shown that Spaniards have the longest life expectancy in Europe (83.2 years). Barcelona holds the title of being the European city with the best quality of life for employees according to the European Cities Monitor. A position it has maintained over the last 14 years.
Investing in Real State
Real State in Spain have reached over €11,000,000 in the past 2 years. For several years the house prices were falling, but last year the prices increased and according to the Bank of Spain, the economy is stronger and the growth is steady. This rise is mainly driven by foreigners buying homes on the coast and in cities like Barcelona and on the Costa del Sol. Britons are the number one home buyers, followed by French, Germans and Swedish.
Since Spain is the third most visited country in the world. As a result the rental market niche is one of the most profitable investments whiting the tourism industry. The average costumer that visits Spain like rent a home, because it is more comfortable and gives them more freedom. The Spanish coasts are the best places for investment in a property. For a good investment is better to stick to the areas with more demand. Last year the areas with the highest buying activity were Alicante, Cadiz and Malaga.
Golden Visa is a special permit that entitles the investor to an Spanish residence in exchange for investing in the Spanish real estate sector. The residence permit now also includes the right to work in Spain. Married couples wishing to acquire a property together no longer have to meet the condition of investing € 500,000 individually. The purchase can be any type of property: home, commercial, land, or a combination of properties. As opposed to the wealth visa, the golden visa does not require you to be in Spain 183 days of the year.
Why investing on tourism?
Spain has continued its expansion and diversification. There is an increasing number of destinations that have opened up for investment in tourism infrastructures. Spain has so much to offer, it has 42 World Heritage Sites. Ranked the 2nd country in Europe in natural areas and Biosphere Reserves, it is one of the richest countries in Europe in Natural Sites.
The weather is considered one of the healthies in the world and Spain can offer more than 300 days of sun a year. The beaches have amazing infrastructures specialized on providing the best services possible to tourist. 648 beaches in Spain are labeled Blue Flag, a record in Europe. There are many opportunities for investment in tourism in different areas. Areas such as Health and wellness tourism, gastronomic tourism, religious tourism, vacation clubs and theme parks among others.
Spain is one of the top countries to invest; the national economy is recovering and has been declared one of the fastest growing economies in the euro zone. According to the IMF, Spain’s GDP is expected to grow 2.5% next year. The level of unemployment is finally declining, along with inflation. More jobs and greater purchasing power of Spaniards is the platform for healthy economic growth.
If you choose to invest in Spain or you just want to buy a place in the sun, in ForSaleInSpain we are prepared to help you and give you the best service with integrity. Contact us!