Spain's government has announced the end of its golden visa program on April 3, 2025, in response to concerns over increasing housing prices. Golden visas, which provide residency to foreign investors, have drawn criticism for their link to rising property costs, particularly in cities where residents struggle to find affordable housing. With most visas issued for real estate investment, Prime Minister Pedro Sanchez highlighted the program's impact on local housing markets. Since 2013, Spain issued over 14,000 golden visas, predominantly to investors from China, Russia, and the US.
"Today, 94 out of every 100 such visas are linked to real estate investment...in major cities that are facing a highly stressed market and where it's almost impossible to find decent housing for those who already live, work and pay their taxes there," Spain's Prime Minister Pedro Sanchez said in April 2024, per Reuters.
"The decision to call time on Spain's golden visa program has been largely down to the growing housing crisis being seen across..."
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