According to comprehensive reports from WorldWay, the Bank of Spain announced on Wednesday (July 23) that it has raised its economic growth forecasts for Spain for the next two years.
The Bank of Spain stated in its monthly report that it has raised the economic growth forecasts for Spain in 2014 and 2015 to 1.3% and 2%, respectively, up from previous forecasts of 1.2% and 1.7%.
The Bank also mentioned that the quarterly growth rate for Spain from April to June may be limited to around 0.5%, following a growth rate of 0.4% in the previous quarter. It is expected that Spain's GDP in the second quarter will grow by 1.1% compared to the same period last year.
According to the current data provided by the Bank of Spain, the pace of economic recovery in Spain is expected to exceed expectations, with economic activities within the country being more frequent than in previous years. Experts indicate that the economic situation in Spain in 2014 will be significantly better than in 2012-2013, with a large part of the recovery attributed to the "Support for Entrepreneurs and Their Internationalization" law introduced by the Spanish government in September last year, which not only promoted entrepreneurship and the vigorous development of small businesses among local Spaniards but also attracted numerous overseas investors to invest and settle in Spain, creating many job opportunities and reducing the unemployment rate.
The preferential policies for overseas investors in the "Support for Entrepreneurs and Their Internationalization" law introduced by the Spanish government indicate that foreign nationals who invest 500,000 euros or more in real estate in Spain, have deposits in Spanish banks, or create job opportunities in Spain can obtain Spanish residency for their entire family. According to industry insiders from WorldWay Investment Immigration Company, investing in Spanish real estate is undoubtedly the most effective and convenient immigration method: it is well known that due to the economic crisis in Spain, local real estate prices have dropped to historic lows. With the euro's exchange rate against the Chinese yuan slowly rising, and considering that one of Spain's pillar industries is tourism, which attracts numerous travelers from all over the world every year, purchasing one or even several properties in Spain has become an increasingly popular choice for many Chinese investors. Following the purchase of a landmark building in Madrid by Chinese billionaire Wang Jianlin for 200 million euros, the trend of "buying property in Spain" will further influence many overseas investors.
Here, WorldWay Investment Immigration Company reminds you that investing in overseas real estate carries risks, and it is essential to choose a legally qualified immigration company, professional and prudent investment consultants and lawyers, and to carefully consider property management and leasing matters after purchasing a property.
Edited by WorldWay