The Spanish Housing and Urban Development Service has announced the official cancellation of the ‘Golden Visa’ program starting in April 2025. This program allowed foreigners to obtain residency permits in exchange for investments in real estate amounting to at least 500,000 euros.
This is reported by Finway
“The benefits currently provided in the housing real estate sector, as well as for other types of investments, are being revoked, and the issuance of residency visas for investors in Spain will cease,” the statement noted.
Spain’s Minister of Housing and Urban Development, Isabel Rodríguez, emphasized that the cancellation of the program will positively impact the real estate market by reducing price pressure and expanding housing access for Spaniards.
It is also reported that all visa applications submitted before April 2025 will be processed under the old rules. Holders of already issued ‘Golden Visas’ will have the opportunity to renew them without changes.
The ‘Golden Visa’ program has brought billions of euros to Spain, particularly in the real estate sector. However, its cancellation aims to reduce inequality caused by the availability of residences through investments.