It's just been announced that if you are buying a property of more than 160000euros, then you will automatically be allowed a residencia.

This, presumably, negates the previous need for regular income and proof of health care?

That sounds really weird because people will overstretch themselves to buy a property of that price but not necessarily be able to live on their ongoing income. They seem to have shot themselves in the foot with this one.

Rosemary

...... and does this apply if they take on a mortgage to buy the said property????

Jo xxx

It's aimed mainly at Russians and Chinese, who might otherwise not be eligible for residency as they are outside the EU. They tend to be more interested in luxury properties. And it's only under consideration, it hasn't become law yet.

http://www.huffingtonpost.es/2012/11...m_hp_ref=spain

I doubt many will see spending 160K Euros as being overstreched. It is only about £128k for Brits.............. peanuts to most really

I think its a great idea and only hope they can bring in more such as a substantial reduction in taxes when buying property.

I know what the paper says but it was just announced by the government (on one of their political shows) that it is law from now.

Maybe my Spanish needs dusting off

It doesn't apply to Brits or any other EU citizens. Residency permits are only issued to foreigners (ie Non EU).

I bet there's nothing wrong with your Spanish, government ministers have a habit of announcing things before time! (Makes it look like they are doing something )

Rajoy afirma que no hay una decisión tomada, aunque reconoce el interés por animar el sector

reminds me of an old "friend" Mr Anthony Charles Lynton Bliar, who would do the self same thing, then a couple of days/weeks later his good friend Mr James Gordon Brown would announce the same news and then a similar period later the Minister responsible for the subject matter would announce it all over again.

.Spain Woos Foreigners to Thin Its Inventory of Unsold Homes Jasper Juinen/Getty Images
Spain is offering residency permits to foreigners who purchase homes like these, which are listed for rent with an option to buy.
By RAPHAEL MINDER
Published: November 19, 2012

MADRID — Spain plans to offer residency permits to foreigners who buy houses priced at more than 160,000 euros ($203,845) as part of its efforts to revive a collapsed real estate market and divest itself of hundreds of thousands of unsold homes.

And as a variation on a theme we now have this Coalition Government where a minister announces something one day and the PM is forced to hastily contradict it - eg the recent mess about their policy on wind turbines, or the "lowest tariff" for energy prices thing where D Cameron jumped the gun somewhat and nobody had bothered to tell the energy companies about this plan.

Yes we have seen all that - so why bother top post it again.

Because there was an update ..but i cant get the link up..

careful - this is a family forum you know

Expansion reported today that in 2011 Russians bought 1,645 homes in Spain which was 7.86% of the total of 24,627 properties bought by non Spanish. Russians were forth in the list of foreign buyers of Spanish property behind the British, French and Germans. It seems that the Spanish government will have its work cut out if it is looking to the Russians and Chinese to clear the backlog of 800,000 plus unsold homes.