Investing in Spain post Brexit
Updated: Mar 2, 2021
The city of Barcelona, located in the heart of Catalonia, is opening up to new investors in search of the "Golden visa" in order to obtain their freedom in the Schengen area.
Thanks to its climate, geographical location, dynamism, Barcelona is attracting new investors. The Covid-19 has led to global restrictions, massive recourse to Home-Office, total lockdown in different countries, etc. This environment allows Barcelona and its idyllic living environment to attract new residents and investors who are looking for a better quality of life.
Investing in the Catalan capital offers a definite advantage in terms of quick access to your freedom throughout Europe. Because the traditional process of issuing permanent residence permits, might seems complicated and slow.
The golden visa allows you to overcome this inconvenience by obtaining your residence permit, complying with certain criterias. The city of Barcelona is world widely known for its quality of life and dynamism, and Catalonia is the second most popular region for real estate transactions. Spain has always been an attractive destination for the British, they represent 18% of the buyers in Spain in 2020. Not just for tourism, but also for first residency.
Living in Barcelona will allow you to enjoy not only the Mediterranean climate, but also its many green spaces, restaurants, local shops, beaches... Barcelona is synonymous of great climate, a quqlitqtive education system, great medical health system, a renowned gastronomy and an easy access to nature and outdoor activities.
Barcelona has also succeeded in etablishing itself as an international technological hub. The Catalan capital is one of the top 12 cities in the world (according to the Savills consultancy firm and its list of Tech LIFESTYLE cities) that are most in line with the technological lifestyle.This is a very attractive place to live. Over the last few years, we have noticed a strong acceleration of foreign investment. The Golden Visa is now one of the best way to obtain a European residence permit. For any purchase over 500,000€ a permanent residence permit can be delivered to potential buyers.
The United Kingdom and Spain have always been closely tied. The British have a strong presence in Barcelona. In 2018 they represented 15% of the total demand for property, making them the number one country in that category above France and Germany.
Thanks to its renewed confidence in its economy, the United Kingdom has given to its people the purchasing power to invest in Spain. It is also a good time to get a mortgage, with some banks offering long-term loans combined with low interest rates.
The uncertainty of the post-brexit period makes real estate investment in UK less attractive. UK investors are looking for opportunities in Europe. And Spain is definitely one of their favourite country. Brexit may raise some concerns about the administrative processes to be provided, however it will have no effect on the rights of British buyers in Spain and the buying process remains the same.