Add listing Log in

The cloudless sky of Spain

01.05.2006
Author: Natalia GERASIMOVA
71
Spain – the undisputed favorite among the countries where Russians buy property. Statistics show that about half of all purchases are made by our compatriots abroad, falls on a warm Iberian Peninsula. Otherwise, simply can not be. And it's not just in the gentle Mediterranean climate. Spanish character, open and cheerful, as if created in order to host.
Spanish hospitality begins at the airport. Although the country's main airport terminal, Madrid's Barajas, receives almost 42 million travelers a year, airport services work like clockwork - both the old and the new, and the newly opened terminals are convenient and logical, there is never any hustle and hurry, the employees are kind and always ready to clarify any questions.
Those who not only fly to Spain on vacation, but also have acquired housing in this country, will surely tell you about the good relations that are accepted here between neighbors. The whole street will be glad to see the newcomer, he will instantly become one of his own. There are other reasons why Russians choose Spain. This is not too long a flight from Moscow - only 4-5 hours, and a minimum of bureaucracy when buying and processing documents, and the already mentioned climate, and a lot of opportunities for outdoor activities, and the traditional interest of Russians in Spanish culture…

Vertical and horizontal construction
One of the most popular television series, which broke all records for television longevity, tells about the life of an ordinary Madrid family in the 1960s and 1970s. The television family lives in a very modest apartment, saves money for a trip to the beach for a whole year, and when they finally get to the quiet, then still without skyscraper hotels, resort town of Benidorm, they are completely perplexed at the sight of white-skinned Swedes, Germans and Dutch, who, it turns out, have already begun to discover the advantages of the Mediterranean a beach holiday.
Today's Spain is not at all like the one from the TV series. The construction boom, which began half a century ago, continues unabated to this day. In the late 1950s, rapid housing construction began in Madrid. The city began to grow in breadth, merged with the surrounding villages and gradually acquired the features of a modern European metropolis. At the same time, the Mediterranean coast began to lose its pristine appearance. So, Benidorm, which until then was a small fishing village near Alicante, went up in the literal sense of the word. The plan for high-rise construction here dates back to 1956, and its implementation has stretched over decades. The last Benidorm skyscraper to date, the 210-meter Bali Hotel, received its first guests in 2002.
Other resort towns have relied on construction both "vertically" and "horizontally". The vacationer has a choice - an apartment in a high-rise building with a rooftop pool or a separate villa with a view of the... neighboring villas. Alas, it is almost impossible to feel like Robinson Crusoe on the densely built-up Mediterranean coasts. Pristine landscapes have been preserved only on the northern Atlantic coast of Spain, which is not so attractive for those who are looking for guaranteed sun and warm water - the climate of Cantabria is more capricious, windy and rainy.

Prices are capricious, but predictable
The volume of foreign investment in Spanish housing continues to grow. First of all, the relative stability of the price picture attracts – prices are constantly rising. Moreover, the growth dynamics turns out to be quite predictable and not too violent. Anyone who has decided to acquire Spanish real estate has time to make an acquisition without haste – the option they like is unlikely to change significantly in price in a month or two. But do not doubt for a whole year - during this time, the future purchase will certainly rise in price. The average increase in prices for resort real estate last year was 15-20% per year.
The incessant rise in prices is fueled by the widespread practice over the past decade of buying apartments under construction for subsequent resale. A few years ago, such a business was very profitable. Today, those who once invested in new buildings are experiencing some difficulties with the sale of ready–made housing - the supply is very large, and investments do not always reach the planned profitability. This situation is in the hands of the one who is making a purchase now – there is an opportunity to bargain for a more attractive price.
Although average real estate prices, which are carefully calculated by analysts, are hardly worth using when conducting specific transactions, it is still useful to know them. On average in Spain, the cost of real estate is about 1600-1800 euros per 1 sq. m., the average figures in the resort areas are about the same level. In Madrid, the average price of a "square" exceeds 3,000 euros. The contrast with the province is impressive – in cities far from the coast and large megacities, the cost of 1 sq. m. The cost will be only 350-700 euros. In prestigious resorts, prices also differ from the average, but in a different direction.

The European Union means "development"
The image of the "poor relative" who accompanied Spain upon joining the European Union in 1988 is a thing of the past. Today, this country ranks fifth in Europe in terms of its economic development. Among other things, Spain has acquired modern transport infrastructure and a higher standard of living in recent years. However, you have to pay for everything – with the advent of the euro, Spanish prices began to resemble pan-European ones. It has become more expensive to relax on the Mediterranean, but still not ruinous. No wonder many French people prefer Spain to their own Cote d'Azur – it's cheaper here.
The intensive development of Mediterranean resorts is often criticized. There is a lot of talk about the possible overpopulation of the coast, that the growing number of golf courses is an unacceptable luxury for arid Spain. The authorities have to work hard to ensure that infrastructure development keeps pace with the pace of housing construction. But it's not for nothing that the Spaniards love the saying about "the fish that bites its tail." They are well aware that if the development gets out of control and the rest ceases to be comfortable, tourists and investors will start leaving Spain. Therefore, the control of the resort area is provided at the state level. Cases of corruption, when local authorities give away areas not intended for this purpose for construction, become a real information bomb. And everyone knows that bribe-taking mayors should not take their heads off in such cases.
In the meantime, Spain continues to make fans of the hot sun and the fresh sea breeze fall in love with itself. The better things are going in a country, the more willing its citizens are to purchase Spanish real estate. Is the UK economy going through a stable period? The English "colony" on the Spanish coast is guaranteed replenishment. Is there another mild crisis in Germany? The Germans are temporarily "resting" from Spain. The Costa del Sol and Costa Dorada, the most popular regions among foreign buyers, are particularly sensitive to such phenomena. It is here that the resale of housing always brings a guaranteed profit of 8-12% per annum. And this is despite the fact that prices, for example, in Marbella can reach astronomical figures – up to 13,000 euros per 1 sq. m.

Everything is calm on the beach
The beach and vacation rhythm of life on the Mediterranean coast of Spain has probably never been seriously disturbed by anything related to the political situation in the country. Despite significant differences on many issues, the two main Spanish parties understand the importance of developing the resort area. Concern for the safety of tourists and investors is also not an empty word. The central Government cooperates with local authorities, and special police brigades are aimed at combating organized crime, drug trafficking and money laundering.
Security means a lot. There are hopes for an influx of visitors to the Basque Country, whose image has been thoroughly undermined in recent decades by threats and explosions of the terrorist organization ETA. As a result, only 5.4% of housing in the Basque Country belongs to "summer residences", whereas in Andalusia – 34%. In March of this year, ETA announced a temporary moratorium on violent acts, and the Spanish Government is making every effort to make the moratorium permanent. If the goal is achieved, foreign visitors will return to the beaches of Cantabria.

Welcome, Mr. buyer
The government is trying to provide foreign buyers with all conditions for the purchase of housing. Verification of the client's solvency can only be carried out upon receipt of a bank loan. If loans are not attracted, then all that is required from the buyer is a personal presence at the notary during the transaction and the actual settlement with the seller.
There are no complications in the future. The annual property tax for "non-residents" is a certain percentage of the cadastral value of the purchased real estate. Given that it is always lower than the real market price, the tax charge is negligible. The deadline for filing a tax return is several months, so the owner can always pay the tax without haste – independently or with the help of local lawyers, which is a very common practice.
A buyer from Russia no longer feels defenseless or helpless in Spain. The vague 90s remained in the past, when scammers pretty much warmed their hands on the first wave of Russian interest in Spain. Now there are many agencies in this country focused on the Russian-speaking client. The natural result of competition is a responsible approach to the client.
It is worth noting the better service provided by the Russian Embassy and consulate in Spain. In the pastthere were disorderly "live" queues. Now you can get an appointment with representatives of the diplomatic corps on any issue by making an appointment by phone, without pandemonium and long waiting. The Barcelona Consulate has gone even further - its representative office in Roquetas del Mar (Almeria) has been launched, an additional office has been opened in Barcelona, and it is planned to open a service center in Valencia.
Russians who have bought real estate in Spain are guaranteed a Spanish multivisa for 180 days of stay in the country. You can get it without complications. Often, the agency through which the transaction was made takes care of the paperwork for obtaining a visa. The procedure for obtaining a residence permit is somewhat more complicated. In this case, the verification of the candidate's intentions will be much more detailed. The advantage always belongs to those who intend to contribute to the local economy in one way or another - for example, to invest in business.

Different Spain
And yet, Russians most often go to Spain not to work, but to relax. According to statistics from the Spanish Embassy in Moscow, 339,502 Russians visited Spain last year, which is 18% more than in 2004. The same report shows that a traveler from Russia is not limited to a couple of resorts. The coast of Catalonia and Barcelona, Andalusia, Madrid, and the Canary Islands are the favorite routes of tourists from Russia.
It is no secret that one of the main attractive features of Spain is the diversity of landscapes, cultures, and architecture... Many of those who have decided to discover Spain do so by driving around the peninsula in a rented car. The elegant architecture of Madrid and the avant-garde structures of the streets and squares of Barcelona, the harsh rocky shores of Cantabria and the gentle sand of the windless beaches of Andalusia, the dizzying highways of Tenerife and the wide highways of Catalonia, the sports harbors of Valencia, with the masts of sailing yachts, and the snowy peaks of the Pyrenees or Sierra Nevada... It is not surprising that, captivated by such diversity, many come to the conclusion that I would like to live in this country ... or at least visit it more often!

A pleasant adaptation
Spain, like other EU countries, receives more and more immigrants every year, and there is a lot of talk about the so-called cultural shock. However, in the case of the Russians, the problem is completely absent. Our compatriots adapt very quickly and with great desire to the local way of life, cuisine, and climate. And it is difficult not to succumb to the friendliness of the Spaniards, who have sincere sympathy for the Russians. Most of them make a huge effort to remember school English, but the desire for communication is so great that the dialogue starts by itself.
It has also become much easier to move from one country to another. Last year, a similar flight from the Spanish company Iberia was added to Aeroflot's daily Madrid flights. The only difference is that the Aeroflot airliner lands at Sheremetyevo, while the Iberia lands at Domodedovo. Russians living on the Costa del Sol have another Aeroflot flight in high esteem – Moscow – Malaga. This area is in particular demand – the number of Russians living in Malaga is already approaching 10,000, and at least 20,000 more of our compatriots have settled in the vicinity of this resort city.
And not only in Malaga, but also in any Spanish city, Russian speech on the street or in the supermarket has already ceased to be exotic. Russian television channels are available through satellite television, Russian radio stations broadcast on the Internet, and Russian books and films can also be found, read or ordered by mail there... Russian Russian shops, Russian-language newspapers and magazines, online communities - all this has already given rise to a phenomenon called "Russian Spain", a second home for many Russians.

0
All articles by this country
All articles
Property in Spain
Discussion