Real estate in Torrevieja: what foreigners should know before buying a property
Warm beaches, well-developed infrastructure and good medicine make Spanish city of Torrevieja popular. Buying real estate in this resort location enables you to escape from the bustle of the city and enjoy sunny days for almost 320 days a year. Despite the obvious advantages, real estate in Torrevieja remains one of the cheapest in the south-east of Spain. One square meter here is estimated at an average of 1000-1100 euros. Low prices for residential property in Torrevieja are a great chance for foreign investors. According to experts, prices for residential and commercial properties will be only raising here.
Why to buy a property in Torrevieja is profitable for foreigners
In addition to low prices, there are few more benefits of purchasing real estate in a Spanish city:
- Foreign investors pouring cash into purchase of real estate in Torrevieja for more than 500,000 euros can rely on a residence permit followed by a right to permanent residency.
- Purchase tax on residential property does not exceed 10%.
- Living in a resort area close to salt lakes helps to improve your health.
Wide range of properties in Torrevieja
In the Spanish city you can get property for every taste. One-bedroom and two-bedroom apartments are available for sale in great numbers in the central areas. These properties are sold both in fine finish and renovated conditions. Closer to the Mediterranean Sea you can find luxury two-bedroom apartments and villas. They will be an excellent choice for foreigners who prefer city escape and a hasteless family recreation.