WorldWay comprehensive report: Since the end of 2014 and the beginning of 2015, multiple indicators have shown that the Spanish economy and real estate market have entered a recovery phase. The Financial Times reported that Spanish property prices recorded their first increase in six years in the second quarter of 2014, rising by 0.8%, while the International Monetary Fund also mentioned in its cross-country report in January 2015 that Spanish housing prices have bottomed out and are beginning to rebound. Among these, Madrid's sales performance in 2014 already saw a 17% quarter-on-quarter increase, with the recovery of real estate partly attributed to improvements in the Spanish economy.
[Spanish Real Estate]
Starting from the late 1990s, the construction and real estate development sectors brought economic prosperity to Spain; however, with the arrival of the 2008 global financial crisis, the Spanish economy fell into a slump. Nevertheless, various signs indicate that the Spanish economy has now stopped declining and is gradually entering a stage of revival. A survey by The Wall Street Journal shows that in 2014, the Spanish economy grew by 1.4%, faster than the projected recovery. Spanish Minister of Economy Luis de Guindos also stated that the Spanish economy will continue to grow at a rate of 2.5%-3% over the next two to three years, with the prospect of returning to pre-2008 financial crisis levels by 2017. Spain's economic foundation is more robust than before, including a continuous decline in the unemployment rate, the restoration of consumer purchasing power, and good growth in exports across multiple sectors such as technology, pharmaceuticals, automotive, and machinery.
The current Spanish property investment immigration policy, which attracts international investors from China, the United States, and other countries to invest in its real estate, is also one of the favorable factors for the property market. Spanish real estate agents predict that as bank lending policies become increasingly relaxed, property sales will achieve good results in 2015. Currently, housing prices are only 60% of what they were in 2007, and once the economy grows comprehensively, the appreciation potential will be very significant. WorldWay Spanish property investment immigration experts explain that the Spanish investment immigration act stipulates that an investment of 500,000 euros allows for the rapid acquisition of Spanish residency. For the growing Spanish real estate industry, now is the perfect time to invest. Therefore, for customers interested in property investment immigration to Spain, this will accelerate their steps in planning their Spanish immigration.
Spanish Consulate representative Mr. San Muñoz pointed out that the Spanish government is very satisfied with the boost that investment immigration has provided to the local economy and emphasized its continued support for the policy. Mr. San Muñoz gave a positive response regarding permanent residency, stating that as long as investors make and maintain the investment for five years in accordance with legal requirements, and reside in Spain for five years in accordance with other legal requirements, he believes there is no reason for the Spanish government and immigration authorities not to grant permanent residency.
WorldWay immigration experts state that with Canada and Hong Kong successively suspending their investment immigration programs, the current overall economy and real estate market in Spain are only beginning a steady recovery. The bargaining power of investment buyers remains relatively high, making it a good time to invest. However, as Spain continues to move onto a more stable recovery track, the bargaining power of buyers will gradually decrease, and the better investment timing may be missed. Therefore, now is a good time to choose Spanish investment immigration.
