Spain Bids Farewell to Golden Visa Scheme to Boost Housing Affordability
After a 12-year run, Spain has decided to scrap the Golden Visa scheme to prioritize housing affordability and address speculative concerns in the real estate market.
Golden VisaSpainReal EstateHousing AffordabilityInvestmentReal Estate NewsApr 08, 2025
The Golden Visa program, introduced in 2013, allowed non-EU citizens to obtain residency by making significant investments in Spanish property. Over the years, it has attracted billions of euros in foreign investment, primarily from wealthy individuals looking to gain residency in the European Union. However, the scheme has also been criticized for exacerbating the housing crisis, making it difficult for locals to find affordable homes.
According to the Ministry of Transport, Mobility, and Urban Agenda, the government's decision is part of a broader strategy to tackle the housing crisis.
Frequently Asked Questions
What is the Golden Visa scheme?
The Golden Visa scheme is a program that allows non-EU citizens to obtain residency in Spain by making significant investments in property or other assets. It was introduced in 2013 to attract foreign investment.
Why is Spain scrapping the Golden Visa scheme?
Spain is scrapping the Golden Visa scheme to address concerns over housing affordability and speculative investments in the real estate market. The government aims to make housing more accessible to its citizens.
When will the Golden Visa scheme end?
The phase-out of the Golden Visa scheme has been announced, with no new applications being accepted. Current applications will still be processed, and the deadline for completing investments is set for December 31, 2023.
What new measures will the government introduce?
The government plans to introduce new measures to support the housing market, including increased funding for social housing, rental subsidies, and initiatives to increase the supply of affordable housing.
How will this decision affect the real estate market?
The decision to scrap the Golden Visa scheme could have a significant impact on the real estate market by reducing speculative investments and helping to stabilize property prices, making housing more affordable for locals.
Related News Articles
Indian Real Estate Sees Bull Run: Housing Prices Rise 12% Annually in Q2 2024
Positive homebuyer sentiment and steady demand have kept the momentum strong in the residential market across major Indian cities, with Delhi-NCR witnessing the highest price rise of 30%
Mumbai's Infrastructure Revolution: Ports, Airports, and New Economic Zones
The MTHL and the Vadhvan Port are set to transform Navi Mumbai's economic landscape, boosting real estate demand and enhancing regional connectivity.
Reduced Stamp Duty to Boost Maharashtra Property Market and Help First-Time Buyers
Developer associations, such as CREDAI (Confederation of Real Estate Developers Associations of India), have formally submitted proposals to the Housing Minister, urging the implementation of reduced stamp duty to stimulate the property market and support
10% Upper Circuit: Omaxe Limited's Shares Surge with New Brand Launch
During Monday’s morning trading session, the shares of one of India’s leading real estate companies, Omaxe Limited, hit a 10 percent upper circuit at Rs. 98.65 on BSE, following the launch of a new brand with an initial investment of over Rs. 2,800 crores
Elphinstone ROB面临本月拆除，以推进连接项目
房地产. 2025年2月4日. 喀拉拉邦高等法院下令拆除并重建Chanderkunj军营塔楼。喀拉拉邦高等法院已下令拆除……
Borivali's Transformation into Mumbai's Premier Luxury Destination
Once a suburban area on the outskirts of Mumbai, Borivali is now emerging as a premier destination for luxury living, boasting record-breaking real estate transactions and world-class amenities.