According to a report by El Mundo published on September 5, 2017: In the first quarter of 2017, the price of second-hand residential properties in Spain increased by 8.24% compared to the same period in 2016. The number of second-hand homes that have accumulated in Spain since 2006-2007 has reached a low level. Currently, the two cities with the highest average housing prices in Spain are Barcelona and Madrid. With the recovery of the Spanish economy, the Spanish government has stated that it will continue to stimulate employment through various policies, aiming to reduce the national unemployment rate to below 11.2% by 2020 and further enhance economic development.
Thanks to Spain's property investment immigration policy, overseas investors are increasingly interested in Spanish real estate. Among them, Chinese investors are showing a growing interest in Spanish properties. According to the latest statistics on property purchases in Spain by various countries, nearly 100,000 residential properties have been sold nationwide. Foreign buyers account for 12.93% of the total, with Chinese buyers making up 0.55%, ranking seventh. The number of people immigrating to Spain through this investment method is also increasing. It is well known that Spain has a comprehensive welfare system, and immigrants in Spain can enjoy welfare benefits equivalent to those of local residents. Additionally, investment immigrants have the right to work and conduct business.
Basic Welfare System for Property Investment Immigrants in Spain
The property investment immigration program in Spain allows one person to apply for immigration for the entire family. Spouses, children under 18 years of age, unmarried children over 18 who are financially dependent, and financially dependent parents of the main applicant can all immigrate to Spain together. In addition, immigrants in Spain can enjoy:
Free Education
The Spanish government promotes education for foreigners to help them better integrate into Spanish society. In Spain, minors under the age of 16 have the right and obligation to receive education, which is basic, free, and compulsory during this period. Minors under 18 also have the right to receive education beyond basic education, including obtaining relevant diplomas and public scholarships. If a foreign student turns 18 during the semester, this right will be retained until the end of the semester. Foreigners over 18 in Spain have the right to receive education as stipulated in the education law.
Health Insurance
Immigrants in Spain who have registered their residence with the local government can enjoy the right to free public health insurance just like Spanish citizens. Foreigners in Spain have the right to access public medical emergency services due to serious illness or accidents (regardless of the cause) until a doctor agrees to discharge them. Foreign minors under 18 in Spain can enjoy the same public health insurance rights as Spanish citizens. Foreign pregnant women in Spain have the right to health insurance during pregnancy, childbirth, and postpartum periods.
Travel Opportunities
Spain is also one of the 27 member states of the European Union and is among the Schengen countries alongside Germany, France, the Netherlands, Italy, Norway, Portugal, Sweden, Switzerland, and 25 other countries. After obtaining permanent residency through property investment immigration, individuals can freely travel across the 26 European Schengen countries.
Elderly Welfare
Elderly individuals in Spain who are 65 years old and do not qualify for retirement can apply for a non-contributory pension (pension no contributiva) if they have no other sources of income. The specific conditions are: Spanish citizens or immigrants with legal residence permits in Spain from other countries. Whether they are Spanish citizens or immigrants, elderly individuals without support or those whose income falls below the minimum standard can receive a small subsidy from the government to maintain a basic standard of living or be placed in nursing homes for care. Local government social welfare departments also establish activity centers for the elderly, organizing various interest activities for them free of charge.
Analysis indicates that housing prices in Spain are expected to continue rising, and the hot rental market phenomenon will persist. Experts from WorldWay Immigration suggest that investors should act quickly to acquire properties and immigrate to Spain through property investment, obtaining citizenship in a major European country and enjoying high-quality welfare equivalent to that of EU citizens, with the freedom to travel across the 26 Schengen countries in Europe. At this time, purchasing a property worth 500,000 euros can grant residency to three generations of a family in Spain, while also achieving investment returns and enjoying significant property appreciation or rental income. For more details, please consult the WorldWay Immigration Group hotline: 400-138-2929.