Spain gives UK tourists strict April deadline as country under 'a lot of stress'

UK tourists interested in moving or buying a second property in Spain have been given a strict deadline as the country's popular Golden Visa Programme is set to end.

Hundreds of Brits have taken advantage of the scheme, which allows non-EU nationals to acquire residency in Spain with little paperwork by purchasing a home in the country worth €500,000 or more. However, Spain's official state gazette, BOE, published a new law on January 3, 2025, confirming that the program would be abolished.

There has been a surge in applications for Golden Visas since the announcement. Figures from Spain's Ministry of Housing show that 2,017 visas were granted in 2022, while 3,273 were approved in 2023. Among the top beneficiaries of the program are people from China, the US and the UK.

Read more: New EU entry rules starting in 2025 could cause delays to UK tourists' holidays

Minister of Housing Isabel Rodríguez said last year that the first step to addressing Spain's housing problem and boosting the supply of affordable homes was to scrap Golden Visas.

She said: "This type of investment puts a lot of stress on the market, increases the price of houses and encourages speculation. The Government's objective is to put an end to the speculation."

Spain's prime minister Pedro Sanchez stressed that Spain would take the steps necessary to guarantee that housing was a right for residents and not 'a mere speculative business'. And Minister of Culture, Ernest Urtasun, slammed the visa program as a 'European shame'.

He argued that someone should not be given a residence permit solely for being rich. "This is staging first and second-class citizens," he said. "We are glad that they listen to us by eliminating this measure."

People living outside of the European Union who want to take advantage of the Golden Visa scheme before it is abolished must apply before April 3, 2025.