The Golden Visa is a resource that is aimed at consolidating the Murcia region as one of the favourite markets for the British in Spain when choosing their second residence. This is stated by Manolo López, director of Projects at La Manga Club Properties, one of the few exclusive destinations in the region, whose developments are located in the resort, with a capacity for 2,500 homes, of which 2,200 are second homes.
“It is difficult to know how many people have a Golden Visa, but we estimate that between 25 and 30 have already requested the administration to process this visa,” explains López.
In percentage terms, the autonomous communities with the greatest weight of foreign buyers during 2021 were the Balearic Islands (13.71%), the Region of Murcia (9.28%), the Valencian Community (8.40%), Catalonia (7, 76%) and the Canary Islands (7.55%).
The British (11.01%) lead the ranking of buyers by nationality in Spain, followed by Germans (9.59%) and French (7.62%), according to a report by the Association of Real Estate Agents of Catalonia (AIC). and the Official College of Real Estate Agents (COAPI) of Barcelona together with FIABCI Spain.
Focused on the British buyer, who accounts for almost 90% of sales at La Manga Club, the company La Manga Club Properties has consolidated its staff with a team oriented towards attracting investors who want to establish themselves in Murcia for a good part of the year in high-level housing: “sports tourism with access to the three golf courses, 28 tennis and paddle tennis courts, 8 football fields and one cricket pitch, as well as a modern gym with a social club,” explains López.
In this sense, Brexit has put a brake on the British real estate investor, which, according to forecasts, “could mean that the demand for Golden Visas will increase in the future”.
Since the United Kingdom does not belong to the European Union, their foreign tourists can only travel for a maximum of 90 days after which they have to return home and cannot return for occasions. If not, they must apply for a visa to spend more time in Spain.
The Golden Visa allows foreign investors to legally reside in Spain. It can be requested by any investor who comes from a country outside the European Union, but it is especially interesting for the British, who have traditionally chosen Spain, and Murcia in particular, as a place to set up their second residence and who after Brexit they must adhere to procedures that were not previously required of them.
The key requirement to obtain the Golden Visa is to have acquired a home that involves a capital investment of 500,000 euros. This authorisation is valid for two years and if you maintain your investment, the renewal will be for five years. In addition, it will allow you to move freely throughout the Schengen area.
The objective of La Manga Club Properties is to enhance the attractiveness of the Murcia region as an exclusive, safe destination associated with sport. “It is a way of contributing to the industry, generating an economic impact and generating sustained employment during all seasons of the year.
British tourism is one of those that spends the most per day, demands quality services and has an impact on shops, hotels and transport, which will allow the growth of the region through a sustainable visitor model due to its high purchasing power, its profile calm and respectful of the environment”, says López.