Americans are flocking to Spain in unprecedented numbers, eager to take advantage of the country’s popular golden visa programme before it’s too late. With the programme set to end on April 3, 2025, time is quickly running out for non-EU citizens looking to secure residency through real estate investment. The golden visa, which has been available since 2013, allows foreign nationals to gain Spanish residency by investing at least €500,000 (approximately $516,000) in Spanish real estate. Now, as the deadline looms, American buyers are rushing to secure their piece of the Spanish dream.
In just three years, the number of Americans purchasing property in Spain has jumped by an impressive 39%. As of June 2024, there were already 41,000 Americans residing in Spain, and the demand has only intensified since news broke of the programme’s imminent closure. Matt Anderson, a property broker based in Mallorca, shared with Bloomberg that the influx of inquiries has been “non-stop.” The island’s inviting climate, world-class international schools, and relaxed lifestyle make it an attractive destination for U.S. buyers looking to make a long-term move.
Since its launch over a decade ago, Spain has issued approximately 15,000 golden visas to non-EU nationals who invested in real estate. The golden visa has allowed foreign investors to obtain residency status in exchange for substantial property purchases, making it an appealing option for individuals seeking a second home, business opportunities, or a new life in Spain. However, with the programme’s end fast approaching, those who can afford the required investment are moving quickly to make sure they don’t miss out.
Spain’s golden visa programme has attracted not only Americans but also investors from around the world, with the allure of residency in a sunny Mediterranean country being a significant draw. The competitive nature of the programme has led to a surge in property sales, particularly in desirable regions like the Balearic Islands, Costa Brava, and the Canary Islands. Americans are particularly keen on securing properties in these areas, with many citing the high quality of life, excellent healthcare system, and access to the European Union as major selling points.
While Spain has been a prime destination for golden visa seekers, it is not the only European country offering this type of residency-by-investment programme. Other nations, such as Portugal, Greece, and Italy, have also introduced similar schemes to attract foreign investment. Portugal, for example, has seen a significant uptick in demand, though the high volume of applications has led to delays and backlogs, frustrating potential investors. In response, some countries, including Portugal, have been adjusting their golden visa policies to stay competitive and address these challenges.
Spain, however, is moving ahead with plans to end its golden visa programme, with the government citing a shift in priorities and a desire to curb the influence of foreign investors in the real estate market. The decision has spurred a rush of Americans looking to secure their place in Spain before the opportunity disappears. For those hoping to obtain residency through the golden visa, the message is clear: act fast before it’s too late.
The impending end of Spain’s golden visa programme has placed the country at the centre of an international property rush. As Americans and other foreign investors scramble to purchase properties and gain residency, the Spanish real estate market is experiencing a surge in activity. For many, the golden visa represents their last chance to secure residency through investment, and with just months remaining before the deadline, the pressure is on.
In conclusion, Spain’s golden visa programme has been a powerful magnet for foreign investors, particularly Americans, over the past decade. With the programme set to end in April 2025, demand for Spanish property has skyrocketed as people rush to take advantage of the opportunity before it’s gone. The golden visa has not only helped fuel Spain’s real estate market but has also positioned the country as a top destination for those seeking residency and a new life in Europe. With the deadline fast approaching, the message is clear: if you want to make the most of this opportunity, now is the time to act.
