Profitable real estate abroad
Profitable real estate abroad
Buying property abroad is always a profitable investment. Among Russians, Spain and Bulgaria are in the greatest demand for the purchase of foreign housing. Bulgaria is interesting for inexpensive housing, but still with remnants of the Soviet Union. The country is just beginning to develop and attract the first tourists.
At the same time, Spain is an economically stable and developed country, which receives more than 85 million tourists per year. And you can buy real estate in Spain for 1,500 euros per square meter (in some regions this price is even lower). Often in the resort towns of Spain, such as Torrevieja, Calpe, Benidorm, you can find a small studio apartment for less than 30 thousand euros.
Profitable real estate in Spain
Spain has not yet completely recovered from the crisis. House prices are rising every year, but to this day they remain among the lowest in Europe. Naturally, this fact attracts foreign investors. In 2018 alone, more than 65,000 foreigners bought housing in Spain. The leading positions are occupied by the British, Germans, French, and in recent years, Russian citizens are increasingly acquiring Spanish housing.
The Spanish real estate market is attracted not only by prices, but also by the favorable attitude of the state and local residents towards residents of other countries. And the procedure of registration of a bill of sale does not carry any special difficulties. In addition, in Spain, a citizen of Russia or any other country can take out a mortgage with an interest rate of 3-3.5%.
Since there is a single real estate registry in Spain, and all lawyers have access to it, there is not much to worry about fraud – the purchase is as transparent as possible. And if you choose the collateral of the bank, then there is almost 100% guarantee that you will not encounter any “pitfalls”. The bank checks all the property on its own and is not interested in fraud.
Real estate in the Costa Brava, Costa del Sol, Barcelona and Madrid regions is in the greatest demand among foreigners. The most popular region among our compatriots is the Costa Blanca with its warm climate and beautiful beaches.
Pensioners and students are increasingly choosing to buy cheap real estate in Spain. The first is because there are very comfortable climatic conditions, a leisurely life and high-quality medical care. Secondly, they choose a good European education and prospects for the future.
It is important to say that the Spanish real estate market is in a period of active development and growth. And there is a good chance to buy an inexpensive apartment in Spain now, and then sell it at a much higher cost. In addition, renting out housing is very popular in Spain. This allows you not only to return investments, but also to make good money.
How much does real estate in Spain cost and where is the best place to buy it
Depending on what plans you have for the purchased property, you can consider different regions of Spain. So, Madrid and Barcelona are perfect for lovers of urban bustle and innovation. If you like to soak up the beaches for as long as possible – choose the Costa Blanca, lovers of natural beauty prefer the Costa Brava, and those who need a luxurious resort life with expensive shopping and the best restaurants go to the islands.
Another important point is that if you want to rent out your home, then choose Costa Blanca or Mallorca. Many tourists prefer to relax on the wide sandy beaches of the Costa Blanca or a comfortable luxury vacation in Mallorca.
The cost of real estate in Spain
So, we have decided that profitable real estate in Spain is located either in large cities or in provinces with sea coasts, where tourists like to relax. In the Costa Blanca region, the cost per square meter of living space is just over 1,600 euros, and in Barcelona and the province – almost 5,000 euros and more than 2,700 euros, respectively.
For example, in the Costa Blanca region, you can buy a spacious apartment near the sea in the region of 45 thousand euros, and a modern house with a swimming pool and close to all infrastructure is within 100 thousand.
In the Valencia region, the average price for one-bedroom apartments in a good area is about 70 thousand euros, and in the Costa Calida region – for such money, you can even consider a small house with a plot.
It is also important to note that when buying a house for 500 thousand euros or more, you get the opportunity to apply for a residence permit. Moreover, it does not have to be one house or apartment, it can be several apartments with a total cost of 500 or more thousand euros.
Summing up all of the above, we would like to note that right now there are all favorable conditions to profitably buy real estate abroad.
Feel free to contact us for more information or advice. Our team of experts is ready to help you make your move to Spain pleasant and carefree.