Spain is a country that occupies 85 percent of the entire Iberian Peninsula, which is located in the southwestern part of Europe. The total area of its territory is 504,750 sq. Km. Spain has common borders with countries such as France, Andorra, Portugal and the English colony of Gibraltar. Due to the fact that this state is located on a peninsula, from three sides it is washed by the waters of the Bay of Biscay, the Atlantic Ocean and the Mediterranean Sea.
Buying real estate in this country today is gaining increasing popularity among our compatriots. Why is Spain so attractive? There is no definite answer to this question, it can be assumed that someone is eager to invest their money in valuable and liquid assets that pay off almost immediately after the purchase, and someone just wants to get away from the harsh Russian reality with its slushy autumn, cold winter and unpredictable in terms of weather in spring and summer. Some people, purchasing real estate, plan to get a European diploma of education, open their business here and stay for permanent residence. Today, people realize that this European state is able to provide everyone with a sufficiently large number and prospects, the main thing is to properly dispose of them.
The capital of Spain is Madrid, according to numerous studies, it ranks second after London in terms of the cost of apartments. Although in principle, like any other city, it is divided into quarters with elite expensive housing, and cheaper economy-class real estate. Currently, the construction of a business class housing is practically non-existent, therefore the prices for the exclusive options available are about 20,000 euros per square meter.
There are regular flights to the country from almost anywhere in the world; therefore, there is no such problem how to get to or leave the country. And during the tourist season, when the flow of foreign tourist’s rushes into the country, the number of charter flights almost doubles.
Madrid provides an excellent opportunity to get an excellent education for very modest money, and a diploma of higher educational institutions in this country will serve as a pass for good work and the subsequent ascent of the career ladder.
Regarding the growth in property prices, it is worth noting that the main trend is a moderate increase in the cost of square meters, ordinary housing of the middle and economy class, but for proposals with more attractive natural or other commercial options, the growth rate increases every year. That is why the purchase of real estate in Spain is a reliable form of investing capital.
Many people who want to buy property in Spain are wondering about the conditions for mortgage lending in this country. It is worth noting that in this regard, the banks of this country provide one of the most favorable and optimal conditions in Europe. So mortgage loans are issued without problems even to non-residents, in sizes up to 80% of the value of the object, with five percent per annum, sometimes a little higher, for up to thirty years.
A distinctive feature of the purchase of real estate in Spain is the loyal attitude of local authorities to the origin of money from the buyer, by the way, in many countries this is strictly monitored. This may concern both the purchase of an apartment or a house for cash, or the payment of a down payment on a loan. Although solvency documents proving that a borrower can pay a mortgage, banks will require.
The owner of the real estate of this country, as well as his close relatives, may receive a one-year visa, with subsequent renewal, which will be valid throughout the entire area of operation of the Schengen Agreement.
Also a significant advantage of residential real estate in Madrid, are quite low costs for its maintenance. So ordinary apartments that are purchased, say, at a cost of two hundred thousand euros, will require payment of property tax paid once a year to the country's treasury in the amount of 200 euros, and an average of 100 euros will have to be paid for utilities. Moreover, utilities are paid only if someone permanently lives in an apartment.
Quite often, in order to get income from your property in Spain, it is rented. And the rent in Madrid can be both year-round and seasonal. The most profitable is, of course, seasonal, but more often it is precisely it that delivers the greatest amount of trouble.
As can be seen from the above, the purchase of your own property in Spain is not only a profitable investment, it is also a whole host of other attractive opportunities, both for yourself and for your loved ones.