Property in Spain for a residency permit
In the Citizenship-By.Investments catalogue, you will find various options of real estate in Spain for investment, offering the opportunity to obtain a residence permit and travel freely within the Schengen Area. Non-residents can select properties for relocation, vacation, resale, or rental income.
In 2024, the number of expatriates moving to the country continues to rise, positively impacting the national economy and stimulating the housing market. Property prices in Spain increased by 5.33% last year, and there is also a rise in new construction projects. These new developments are particularly popular among international investors due to their modern layouts, advanced infrastructure, security (including at least a video surveillance system), and prime locations.
On average, buying real estate in Spain is possible for €162,000, though there are cheaper or more expensive options across the country. Residential properties, such as villas, townhouses, and apartments, are especially attractive investments, though there are also interesting opportunities in commercial real estate and land plots. For foreigners looking to relocate, the Mediterranean coastline is the most desirable location. From a rental and profitability standpoint, Madrid, Barcelona, Marbella, Valencia, and Benidorm are the top spots.
Key benefits of buying real estate on Spanish resorts include:
- Sunny weather most of the year.
- A stable influx of tourists, guaranteeing rental income.
- Simple transaction procedures.
- Fast-track resident status and the possibility of moving your family to a country with a stable economy.
- A large Russian-speaking community.
- Reasonable taxes and affordable living costs.
Residence permit in Spain by buying property
Investors in apartments, villas, offices, commercial properties, and land plots can apply for a residence permit. The process is simple:
- Select a property based on your preferences.
- Contact the developer or a real estate agency. Our website provides direct contacts, and all our partners have excellent reputations.
- After completing the transaction, making the payment, and registering the property, collect the necessary documents and submit a residence permit application to the immigration office. You will receive a response within 25–40 business days.
A residence permit for real estate purchases is granted for 3 years, and you can own multiple properties, as long as the total value exceeds €500,000. Other requirements include being over 18, having an annual income of €28,800, having no violations of visa regulations, and being in good health. If you have dependents (spouse, minor children, or parents), they can also receive a residence permit upon your request.
To maintain the long-term visa and later apply for permanent residency, you must retain ownership of the property. Permanent residency is granted after 5 years of residence in the country, and after 10 years, you can apply for citizenship. To obtain a Spanish passport, applicants must learn the language, understand the country’s history, immerse themselves in local culture, pass an exam, and demonstrate integration into the community.
Investment real estate in Spain
The real estate market here is dynamic, so you can find properties with good locations and desirable features even with a modest budget. Location directly affects the cost and return on investment: closer proximity to the sea, city centres, or landmarks increases profitability. Prices of properties in Spain are more favourable if you invest in under-construction projects , though you’ll need to wait for completion before relocating.
Key points for investors:
- Annual rental income from investing property in Spain averages 7.25%.
- It is possible to recoup your investment in an average of 14 years, or 10 years in tourist hotspots.
- Guaranteed income of 5–6% is possible by entering into agreements with developers.
- The most economical and convenient way to manage rental properties is by working with a specialized company.
Yes, non-residents can buy apartments or houses in Spain with no restrictions on location, price, or property type. You can invest in properties on both the primary and secondary markets. The number of properties you purchase is not limited, and once the transaction is completed, you can use the property at your discretion—live in it, rent it out for income, or sell it (note: if you plan to apply for a residence permit, you cannot sell the property immediately).
Yes, owning property in Spain qualifies you to apply for a 3-year residence permit (the so-called golden visa). To apply, you must be of legal age, have an annual income of €28,800, and submit the necessary documentation. Immediate family members are also eligible. You can apply to the immigration office after completing the purchase. No language exam is required, and the response time is typically 25–40 business days.
To qualify for the golden visa, the minimum investment in property for sale in Spain must be €500,000. This is the threshold that will be verified when submitting your documents for a residence permit in Spain. You don’t have to purchase a single property—you can own multiple houses/apartments in Spain as long as their total value exceeds half a million euros.
From an investment perspective, Barcelona, Madrid, Alicante, Valencia, Marbella, and Benidorm are the most attractive locations. Real estate for sale in Spain’s major cities is more expensive but provides faster returns due to the influx of tourists. Meanwhile, developing resorts present long-term investment opportunities.
To fully legalize your status, you must live there for at least 10 years, after which you can apply for a passport. Once your residence permit expires, you should request permanent residency. Keep in mind that the country does not allow dual citizenship, except for citizens of certain countries like Andorra, France, and others.