WHAT TO CONSIDER IF PLANNING TO BUY A LUXURY PROPERTY IN COSTA DEL SOL
The Costa del Sol, a region in the south of Spain, is arguably the best-known part of Spain, especially among foreigners. This region is part of the autonomous community of Andalusia and dubbed a surprising paradise. It offers some of the very best beaches in Spain and has something for everyone. So if you are looking to invest in a property in Spain, the Costa del Sol really is a solid choice. It is one of the most popular relocation spots in Europe, and it is also great for vacation. One of the highlights is the wonderful climate all year around. And the best thing is: there is plenty of affordable property.
If you are looking for property in the Costa del Sol area, there are three areas to look: western Costa del Sol, Central Costa del Sol, and eastern Costa del Sol. The western part is most popular and offers a lot of luxury property. The central part is the most developed. You’ll find popular resorts such as Torremolinos here. The eastern part of the Costa del Sol is much less-known, and as such, quieter and less developed.
An apartment, villa, or another piece of real estate in Spain is a great investment. The market is getting back on its feet, which means that this is a great time to get in. The Costa del Sol, the literal translation of “Coast of the Sun is a stunning area of the south of Spain, in the renowned and prestigious region of Andalusia and hosting some of the most popular locations to own exclusive property in Europe.
The climate of the Costa del Sol is one of the major factors in its popularity with luxury property investors. It has a hot dry climate that is popular amongst those looking for a home to enjoy in the summer as well as a warmer winter than what they may experience at home. It’s this warm climate that makes exclusive property in the Costa del Sol more than commonplace. A stretch of land that hosts some of the region’s most palatial and sought-after luxury villas and apartments, it’s not surprising that the region of the Costa del Sol is so popular for those looking to invest in an upscale lifestyle. It’s such opportunities as being able to invest in prestige property in the Costa Del Sol that makes the region so appealing.
The most important requirement: Spanish residency visa
Are you planning on moving to Spain after buying your Costa del Sol property?
So you need to obtain a Spanish residency visa. This allows you to stay in Spain permanently. It also offers holders visa-free travel throughout the Schengen zone, which includes 26 countries.
To qualify for a Spanish residency visa, you will have to invest in Spanish property and/or other assets in Spain. The minimum amount per investor is €500,000 and this must be paid from your own funds. You’ll also have to submit some paperwork and comply with administrative requirements. So you definitely need someone to guide you through the entire purchase process, to help you find the best properties, and also help you with the negotiations.