Striking gold with new visa scheme

SPAIN’S Golden Visa scheme is working its magic, attracting more high-end, non-EU property investors to Andalucia.

For the first time, Chinese, Russians and Americans were among the most active foreign buyers in Spain during the first quarter of 2014, according to data published by the General Council of Notaries.

Andalucia saw one of the greatest rises in property sales – an increase of 32.5% – with particular interest in Marbella and Malaga.

The Golden Visa scheme provides residency visas to non-EU nationals who are seeking real estate investment opportunities in Spain. Purchases greater than €500,000 qualify the investor for a visa, offering travel and educational opportunities for their family too.

This is the first data that indicates an increase in sales due to the Golden Visa scheme.