Costa hot spot for wealthy buyers

SUMMER HOME: Russian and Chinese investors may soon land in Marbella with a residence card.

THE Torremolinos to Marbella coast line is one of the top targets for foreign property buyers aiming to get temporary residency in Spain. 

According to reports by the Trade State Secretary Jaime Garcia-Legaz, the average property profile these buyers are looking for is an apartment priced more than €160,000, with at least 80 square metres surface, in a coastal area. 

Clients would use these houses as a second residence, spending the warmest six months of the year here, the minimum period required in the Government’s plans. 

With extensive experience and a notable stock of properties, the Costa del Sol has been declared by Garcia-Legaz as one of Spain’s hot-spots, along with the Costa Blanca in Valencia and the Costa Dorada in Catalonia. The Spanish government hopes that wealthy foreigners from outside the EU, especially Russia and China, will take advantage of new rules to claim automatic residency by buying property worth more than €160,000.

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Comments


    • Jes Thomsen

      02 December 2012 • 19:31

      We as real estate agents working around the Marbella, we see a positiv trend from the Scandinavian market to. Buyers from this countries havent been affected so much as many other countries and they in many ocations dont need to get any mortgages in their new property, since they can remortage their own property back home. The medias in the Scandinavian countries are also writing positve about the falling property prices and that now is the time to purchase a second home. We at http://www.sunpropertiesmarbella.com are looking very much forward to the new year and to welcome new clients who want to buy on Costa del Sol

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