Latest update: 15/02/2013
Moscow del Sol: Russians buy holiday homes in Spain
In Spain, a law could soon be passed that will give people from outside the European Union a residency permit if they buy a property worth €160,000 or more. The idea is to sell off some of Spain’s masses of empty properties that have not sold since the housing market crash in 2008. The law is likely to a bolster a trend already at play on the Costa Brava and Costa Daurada: the arrival of middle-class Russian families keen to buy bargain apartments in sunny Spain.