Spain emerging as top real estate investment for South Africans

As more and more South Africans look to invest in property abroad, Spain is offering them one of the best deals in global real estate.

According to BBVA Research, the Spanish property market reached full growth phase in 2016 and with the Spanish economy expected to grow by 2.7% in 2017, the value of Spanish property is on the rise. 

For South Africans looking to invest in property abroad, the benefits of investing in the growing Spanish market are two-fold; buyers can make a return on their investment and generate a second income by renting their property to the millions of tourists that flock to Spain each year. 

But even more valuable than the financial returns of Spanish property is Spain’s decision to grant residency permits to non-EU citizens who buy property worth 500,000 euros or more. 

Spanish residency permits are also extended to the property owner’s spouse and children, giving South African families unfettered access to the EU and opening countless doors of opportunity. 

With Spanish residency, South African families can; 

-    Travel visa-free to Spain and within the Schengen zone. 
-    Enjoy the benefits of security and wealth preservation offered by EU countries.
-    Access some of the finest schools, universities and healthcare systems in the world at the same cost as EU citizens. 
-    Establish or expand their business in the stable European economy. 
-    Take their cultural knowledge of Europe, university education and European business contacts back to their home country.

By doing so, South Africans can open channels of communication between Europe and South Africa, increasing trade and benefiting both the South African and European economies. 

Sergio Codonyer, managing director of Door to Europe, a social business which guides non-EU citizens through the process of securing Spanish residency, believes that we will see a rise in the number of South Africans investing in Spanish real estate. 

“Until recently, Spanish real estate was largely overlooked by South African investors but with the value of the Spanish market rising and the many benefits attached to Spanish residency, I think it’s only a matter of time before we see more South Africans investing in Spanish property.” 

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