The Golden Visa

Financial Lawyer Erika Rubio discusses the housing squeeze in Barcelona, and how the issuance of Golden Visas plays a role in it. 

Catalunya Barcelona film speaks to Erika Rubio about the implications of the Golden Visa, and its impact in housing in Barcelona.
Catalunya Barcelona film speaks to Erika Rubio about the implications of the Golden Visa, and its impact in housing in Barcelona.
Catalunya Barcelona film speaks to Erika Rubio about the implications of the Golden Visa, and its impact in housing in Barcelona.

ENGLISH

The Golden Visa is issued to a foreigner who comes, purchases a home for a half-million euros, and is granted residency and a work permit. So what happens? Many say, Well, I own a flat worth 400, but who says it isn’t worth 500?

I’ll sell it to a Chinese, Russian, or Japanese [national]. I’ll sell it to a Chinese, knowing they must spend 500,000 euros. What’s the impact on many people? Flats worth 300 or 350 are now valued at 500.

It’s made affordable housing a challenge. Similar to [other] major cities, downtown is no longer a place where you can live.

CATALAN

La golden Visa es una persona de fora, ve aquí, compra un immoble de mig milió d’euros i té un permís de residencia i treball.

Que passa? Doncs molta gent deia, bueno, jo tinc un pis de 400, pero qui em diu que no puga valer 500? Jo agafo un aquí, el típic, xinesos, rusos, japonesos venen aquí i dius, va, ademés aquests no poden comparar, ells saben que tenen que gastar 500.000 euros.

I això que ens ha produit a la resta? Doncs que pisos que valien 300.000 o 350.000 de repent valguin 500.000. Això ha fet que la gent que vivim a Barcelona sigui molt dificil accedir a la vivenda. Ja t’has d’anar, passarà com a les grans ciutats. El centre no serà un lloc on viure a les ciutats.