Spain to End Golden Visa Program as Housing Crisis Deepens

A recent decision by the Spanish government is set to bring relief to its citizens while curbing a deepening housing crisis. Spain has announced that it will abolish its “golden visa” program, which offers residency to wealthy foreigners who purchase real estate in the country. The program, in place for a decade, has attracted billions of euros in investments but has also exacerbated the housing shortage for local residents.

The impact of the golden visa program on property prices has been profound. As the program brought in wealthy foreigners, the prices of houses in Spain skyrocketed, making it nearly impossible for most locals to afford decent homes. For Ana Jimena Barba, a young doctor who had to live with her parents while trying to save enough money to buy a house, the inflated prices were a bitter reminder of the injustice caused by the program.

Recognizing the urgency to address the housing crunch faced by its citizens, Spain has taken the bold step of ending the golden visa program. This move follows a trend among several other eurozone countries that initially offered the visas to attract investments during the debt crisis. These countries, including Spain, Ireland, Portugal, and Greece, were grappling with severe budget deficits and sought solutions that would inject cash into their economies while reviving the stagnant real estate markets.

While the golden visa program undoubtedly brought in much-needed investments, its unintended consequences cannot be ignored. The program significantly inflated property prices, creating a situation where the earnings of locals fell far short of what was required to access decent housing. With the abolition of the golden visa program, Spain aims to restore balance to its housing market and prioritize the needs of its own citizens.

As Spain takes this decisive step, it sets an example for other countries facing similar challenges. By actively addressing the housing crisis and prioritizing the well-being of its citizens, Spain is paving the way for a more equitable and sustainable future.


“金色签证”计划对房价的影响巨大。随着该计划吸引了富裕外国人,西班牙的房价飙升,使得大多数本地居民几乎无法负担得起体面的住房。对于年轻医生Ana Jimena Barba来说,她不得不和父母住在一起,试图存足够的钱买房,高涨的房价是这个计划带来的不公正的苦涩提醒。




1. 金色签证:指西班牙提供给购买房地产的富裕外国人的居留权计划。

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