Launched in 2013, the Golden Visa program was initially intended to boost the Spanish economy, which had been weakened by the 2008 financial crisis. However, the post-Covid economic situation has questioned the system, especially given the surge in demand for Golden Visas and the sharp rise in housing costs.
According to the Minister of Housing, ending the Golden Visa program will help lower housing prices and make homeownership more accessible for Spaniards. Many locals blame Golden Visas for the current housing shortage 鈥� an estimated 600,000 homes are lacking this year 鈥� and for driving up real estate prices.
However, some experts believe that ending the Golden Visa will have only a limited impact on the property market. Prices are expected to fall mainly for high-end properties, but not for affordable housing 鈥� the segment where most locals and foreign residents live.
