Navigating the Removal of the ‘Golden Visa’ Program: Understanding EU Pressure and Spanish Government Response
The removal of the ‘Golden Visa’ is due to pressure from the EU regarding ‘undesirables’ getting entry to the EU. However, the Spanish Govt has put their own spin on it. Unless the 500,000€ euro was put into purchasing multiple low-priced residential investment properties, the market for single villas and apartments of that value are not where the accommodation problem lies.
Addressing Housing Concerns: Government Response and Tourism Impact
The Govt is also reacting to the protests about lack of housing and against tourists. (Might there be an election soon!!) The protests are because tourism, and specifically Airbnb style/buy-to-let accommodation, has led to locals being priced out of buying and renting property. It’s the same in the major cities and islands around the world where there is a limited amount of accommodation. There must be restrictions on the numbers of properties available for short-term letting, so that the remainder are available for long-term family style living. That’s what’s created the cities in the first place. Without that you’ll have the place full of tourists, but nobody there to provide the services they want, and tourism will collapse anyway. Cataluña has gone the wrong way which has led to even less accommodation than before, as everyone predicted and has been tried and failed in many countries in the past. Administrations are wanting to eliminate the antisocial tourists and have decided that by going up market it will do so. But there’s absolutely no guarantee that more money = more considerate behaviour. Often, it’s the opposite as arrogance and ‘entitlement’ take over. And it still doesn’t answer the supply of people to provide the services. The encouragement must be the creation of liveable accommodation for residents, through the authorities building, acquiring and even financially encouraging property to rent at a level service workers can afford. Unless that’s done, they’ll be left with a failed economy.
