Spain Sees Surge in €500,000+ Property Sales
Ahead of Golden Visa Deadline Spain Sees Surge in €500,000+ Property Sales
In the months leading up to the end of Spain’s Golden Visa scheme, the country experienced a notable spike in high-value property transactions, particularly from non-EU buyers eager to secure residency before the window closed.
On April 3rd, 2025, the Spanish government officially ended the Golden Visa programme, which had allowed non-EU citizens to obtain residency by investing €500,000 or more in Spanish real estate. The announcement triggered a last-minute rush of luxury property purchases throughout 2024, with many buyers keen to finalise deals before the deadline.
According to data from the Association of Registrars, foreign buyers carried out nearly 93,000 property transactions in Spain during 2024 — a 6.4% increase compared to the previous year. Notably, sales over €500,000 rose by 20%, clearly influenced by the visa’s upcoming cancellation.
Industry professionals have confirmed that while the general rise in property prices played a role, the elimination of the Golden Visa was a key factor behind this increase in high-end sales. Between April and December 2024 alone, 573 Golden Visas were granted — despite the programme being on its way out.
Now that the scheme has ended, high-net-worth individuals from outside the EU are exploring alternative residency options, such as Spain’s Non-Lucrative Visa or the increasingly popular Digital Nomad Visa.
Some real estate experts, reported a noticeable uptick in interest in €500,000 properties. However, they also clarified that visa-motivated purchases still represented only 5% of total international transactions.
The urgency created by the government’s year-long process to legally dismantle the scheme led many buyers — particularly from the U.S., Costa Rica, China, Russia, Ukraine and the UK — to act fast. Key investment hotspots included Barcelona, Madrid, Málaga, Alicante, the Balearic Islands, Girona and Valencia, with Americans especially drawn to Madrid and other large urban centres.
By the time the scheme closed, over 33,000 Golden Visas had been issued — the vast majority linked to real estate investments. In fact, 95% of those visas were granted in exchange for property purchases meeting the €500,000 threshold.
Looking at late-2024 data, 10.76% of all home purchases by foreigners surpassed this threshold — a record figure — with over half of these transactions carried out by non-EU nationals.
At SGM Abogados, we continue to assist international clients navigating Spain’s property market and evolving residency regulations. Whether you’re considering relocation, investment, or simply need expert legal guidance, our team is here to help you make informed, confident decisions.
About Post Author
