Program visas given to foreigners who buy housing at a price of 500,000 Euros or USD 8 billion, which is also called the Golden Investment Visa, does not effectively remove the growth properties in Spain. Although many foreign countries are interested but the price of Spanish property not improved and continues to decline. Currently, the decline stood at Rp 23.8 million per square meter, down 3.8 percent per year.

Head of the International Residential Research of Real Estate Knight Frank, Kate Everett-Allen said, unlike Portugal are experiencing market recovery related facility is granted a residence permit, in Spain is not yet effective. Even so, the signs in the direction of improvement remains. According to data from the General Council of Notaires that strengthens it, the presence of buyers from the US, Russia, and China is a positive factor that the granting of visas gold began to show results. The three countries are the most active buyers in the first quarter 2014.

The number of Spanish property investors who purchased these three countries, increased to respectively 88.9 percent, 83.1 percent and 62.6 percent compared with the same period last year.

As is known, in September 2013, the Spanish government offered a two-year residence permit in return to attract investors EU and non-Europeans who buy property with a minimum price limit of Rp 8 billion.

Besides the US, Russia, and China, other countries who are interested in Spanish is Norway and Sweden. They buy properties with prices ranging from Rp 27.8 million to Rp 31 million per square meter. While Irish investors to buy property more expensive than the UK. In contrast to the lai, buyers from Romania and Morocco dare to buy property at Rp 12.8 million per square meter.

By doing so, in general, foreign buyers contributed 19.4 percent of all sales of Spanish property in the first quarter of 2014 and non-residents accounted for 47.9 percent.