The purchase of real estate in Spain by foreigners accounted for 16.2% of the total market in 2016, according to the Ministry of Public Works. This number speaks for itself of the boom in this type of real estate operation in our country, even more so if we compare it with that corresponding to 2008, when only 6.6% of purchases were made by citizens of other countries.

This increase is undoubtedly due to the many advantages of acquiring a property in Spain for a foreigner, which we summarize below.

1. Sun and beach, two major values

​​Spain offers an exceptional climate to foreigners fleeing the cold and rain of their countries of origin. After spending their first vacations in our country, British, Scandinavians and Russians discover the sun, the beaches and the possibility of carrying out outdoor activities throughout the year, something unimaginable in their land. Therefore, it is logical that they want to stay and live in a better place.

2. The Spanish quality of life

The Spanish Mediterranean and family lifestyle attracts many foreigners who are looking for a good place to enjoy their retirement or from which to run their businesses (or even set them up here). Others value greater freedom and security with respect to their countries when starting a new life. And all of them appreciate the abundance of shops and quality leisure areas, with much longer opening hours to the public.

3. Excellent communications

As a good world tourist power, Spain has magnificent international air connections. Many foreigners have direct flights in their place of residence that bring them closer to their homeland in a few hours when they feel homesick.

4. Housing at very attractive prices

Foreigners are taking advantage of the drop in housing prices in Spain due to the crisis to buy properties, especially in areas such as the Canary Islands, the Balearic Islands, the Valencian Community or Andalusia. In fact, in 2016 they spent an average of 42,000 euros more than the Spaniards themselves when buying a property.

5. Obtaining the residence permit

Since the end of 2013 and thanks to the Entrepreneurs Law, non-EU foreigners who buy a home for more than 500,000 euros in Spain obtain a residence visa. It is above all Russian and Chinese citizens who are taking the most advantage of the measure. This express visa includes the buyer's spouse and dependent children and ascendants, something that makes it particularly tempting.

6. Cheaper mortgages

When a foreigner buys a property in Spain, they have the possibility of requesting a mortgage loan from a Spanish bank, generally under more advantageous financial conditions than in their country of origin.

7. Better services

Many foreigners come to Spain in search of cheaper private schools for their children's education or better assistance. The Spanish healthcare system is prestigious worldwide and offers very good value for money.

8. A profitable investment

Given the rise in prices in the real estate sector, the purchase of Spanish housing today has a very high revaluation capacity. A growth in investment that foreigners who buy their second home here take into account.

9. Pay less taxes

Another point in favor of buying a flat in Spain is that taxes are lower than in many of the surrounding countries, something that is especially valued by community retirees, who prefer to move.

10. Greater purchasing power

Finally, Spain continues to be an advantageous destination for foreigners from countries with strong currencies, who can enjoy a higher standard of living here with less money.