It also happens that a villa on the Spanish coast can cost significantly less than a capital city apartment in one's homeland.
Rumor has it that in Europe, our compatriots have long favored not the rocky Greek islands or a tiny plot of land in Cyprus, nor even the fields overgrown with wild grapes near the Loire, but Spain. Is that true? What can Spain offer those who have the opportunity to buy a house or apartment in one of the EU countries?
The popularity of real estate in Spain among our compatriots, not only as a way to invest money but also as a second home, is no coincidence. The fact is that if there is a place in Europe with lenient laws regulating the purchase of property by foreigners, it is the Iberian Peninsula. In reality, the rules governing the conditions for buying and owning residential or commercial property in Spain are even softer in practice than the letter of the law.
The grounds for purchase can be either the desire to start a business in the country, or simply the financial ability to buy a summer house, second home, or for emigration (including business emigration). Notably, housing prices are much lower than in neighboring countries or third-world states – and this despite Spain's resort areas (housing is most often sold near the coast or cultural centers).
As for the cost of exclusive housing, even luxury real estate in Spain is quite competitive, and the variety of offerings, from a beachside cottage to a townhouse in Barcelona or any city in Andalusia, makes buying not only profitable but also interesting. There are no restrictions on the area of purchased property, number of floors, or size of the adjoining land plot.
For comparison, Singapore's laws strictly regulate these parameters: only apartments with a total area not exceeding 80 square meters can be purchased, which by Western standards is comparable to our notorious 'Khrushchevka'. And there can be no question of a loan.
Here, amid golden beaches and fairytale antiquity, at minimal interest rates and with the possibility of subsequently obtaining Spanish citizenship, cottages and apartments are ready to open their doors to our compatriots. Moreover, they have long been welcoming them as new owners.