Southwestern European country with a population of 47.4 million people. The capital city Madrid is the second most populous city in the European Union.
After a several years of struggle as a consequence of eurozone crisis and 2020 COVID outbreak, Spanish economy seems to be fully recovered with a GDP growth of 4.5% in 2021 and a forecast of 5.4% in 2022.
Spain’s economy is the 14th largest worldwide and the 4th largest in the EU.
Highly advanced automotive industry ranking Spain 2nd in the EU by car manufacturing.
The 2nd most visited country in the world recording around 82 million tourists annually.
The average salary of 2,000 EUR contrasting with considerably lower consumer prices than in most Western European states.
Presentation of Alicante
Alicante is the 2nd largest city in an autonomous Valencian Community, constituting the province of Alicante. The population of the province is 1,8 million people while of the city of Alicante itself 337,400 people. Most of the population of the province is distributed in mid-range towns of 20,000-50,000 inhabitants.
After several years of population decrease, it started growing again in 2017 with annual increase of ~1%.
Within extremely diversified provincial economy, trade is its main driving force contributing to a third of province’s employment. This category is followed by manufacturing industry and tourism.
26.2% of the province’s area is devoted to nature reserves.
Unemployment rate in line with Spanish average level
Best holidays spots for Nordic and British tourists, all over the year
Alicante airport doubled its passenger traffic in last 2 decades servicing 15 million people in 2019. Being connected with 24 destination countries, UK, Spain, the Netherlands, Germany and Norway have been contributing the most to the passenger traffic.
The Port of Alicante is another connection point with constantly growing passenger and merchandise number transported.
There are 4 universities in the province and only the University of Alicante hosts 30,000 students alone.
Real estate market
Spanish property market has decreased by 30% between 2008 and 2014. However, it has been in a recovery phase ever since, which makes it a great investment right now.
As of 2021, real estate price in Valencian Community reached 75% of those before the 2008-2014 crisis.
6.3% price growth between 2015 and 2019. Slowing down to 4.97% in 2021 as a response to the pandemic, it is expected to accelerate in 2022.
The British (14.1%), the French (8%) represented the largest groups of foreigners buying real estate in Spain as of 2019.
Tax & Social
Corporate tax: 25%
Personal income tax for residents (varies in regions): from 19% to 47%
Tax rate on rents for non residents investors: 24% (19% for EU residents)
Transfer tax of real estate: between 6% and 10% (if the property is resold); VAT + stamp duty of 1.5%-2%