This is probably due to the fact that Spain is one of the few countries that still issues residence permits for real estate. How to buy property in Spain?
Citizens of the Russian Federation set a ten-year record for the purchase and sale of real estate in Spain, this is evidenced by the report of the Statistical Information Center of Notaries of the country, which I read rbc, He made more than 2 thousand transactions. This is an increase of 50% compared to the same period last year. And slightly below the record values of 2013–2014. At the same time, experts note that Russian citizens are more likely to buy square meters than get rid of them.
In 2023, the average price per square meter in Spain increased by 15% and reached 2.3 thousand euros. To buy property in this country, first of all you have to know how to select it. Then the buyer makes a deposit and the realtor begins checking utility and tax debts, the legality of the construction and the absence of encumbrances. If everything is in order, a notary is involved, and the agreement is sent to the relevant authorities for registration. payment is made.
Expenses related to the purchase of real estate account for at least 13% of the cost. If we assume that the buyer chose an item cheaper than 100 thousand euros – this is exactly the limit on transfers per year that the Spanish authorities set for amounts to the accounts of non-residents – then the whole process will take about two months, After which you will become the owner of an apartment or house.
Spanish banks open accounts for Russian customers, but it takes a long time to approve them. You must provide certificate of income level and legal origin. Also in Russia you need to find a bank connected to SWIFT and not under sanctions that can transfer money to Spain. Not easy, but real. By the way, for Russians there are restrictions on withdrawal of funds by the Russian Central Bank installed At $1 million per month.
But if you buy a property worth more than 100 thousand euros, there is a problem in fund transfer. There are two ways to solve this. If you buy property from a development company, it may be possible to pay for it in a third country. For example, Costa del Sol is currently being developed by a large company from the United Arab Emirates. And then provide the documents on payment in the Emirates to a Spanish notary.
You can find real estate owned by any Russian or citizens of the CIS countries, and pay in Russia or “friendly” countries, maybe even in rubles. And then also visit a Spanish notary. Or you can become a resident of Spain under some program, then there will be no restrictions. Inna Poluyanova, head of the sales department of Estate Spain, continues:
Inna Poluyanova Head of Sales Department Estate Spain
Spain is one of the EU countries that offers Russians the opportunity to purchase a “Golden Visa”. Invest half a million euros and in a month or two you will have a residence permit, giving you the right to work and run a business. And after five years permanent residence will appear. And then Spanish citizenship. True, if you buy real estate, you will have to face the same difficulties that arise when buying a property worth more than 100 thousand euros. The methods to avoid sanctions are the same.
To obtain a residence permit and be able to buy real estate in Europe, you can consider other programs, says Sofia Defosse-Aksyutina, director of international projects at the immigration and visa agency EuroResident – Easy-Visa:
Sofia Defosse-Aksyutina Director of International Programs of the Immigration and Visa Agency “EuroResident – Easy-Visa”
At the same time, Madrid has long been they press EU officials will close the Golden Visa program or raise investment limits. Perhaps the law on the increase will be adopted after the New Year, but it will come into force no earlier than March, experts say. So the Russians still have time to buy square meters on the coast.