Can a US citizen own a home in Spain?
Can a US citizen own a home in Spain? Of course! There are no restrictions on buying property in Spain, whether it's commercial, residential or land. In fact, Spain encourages investment by foreigners, both resident and non-resident.
Are house prices in Spain falling?
While house price growth peaked at 8.5% year-on-year in the first quarter of 2022, according to Eurostat, it fell to 3.5% in the first quarter of this year. Other price trackers such as TINSA also show a clear downward movement.
Is it wise to buy a property in Spain now?
The Bank of Spain predicts a return of 10% for the Spanish real estate market in 2023. In layperson's terms, buying property in Spain is considered a safe investment. It's highly unlikely that you'll lose any money if you take the plunge – provided you seek expert guidance and support throughout the buying process.
Is it risky buying property in Spain?
Spain is a bureaucratically complicated country. The real estate market there has fluctuated in the past, so some research before buying property is always a good idea. Another important factor to keep in mind is that Spain has a fairly high capital gains tax.
What happens if I stay in Spain longer than 90 days?
If you don't leave Spain after 90 days, you would be in an irregular situation. In other words, you would be in the country illegally. Thus, in the eyes of the immigration law, you would be committing a serious infraction that could result in significant penalties and/or fines.