In April 2025, Spain officially ended its Golden Visa programme, which had allowed non-EU citizens to obtain residency through property investments of €500,000 or more. The decision was driven by concerns over housing affordability and speculative buying in major cities. But what does this actually mean for foreign buyers looking at the Costa del Sol?
What Has Changed
The Golden Visa programme, introduced in 2013, granted automatic residency permits to non-EU nationals who invested at least €500,000 in Spanish real estate. This route is now closed. No new applications are being accepted, though existing Golden Visa holders can still renew their permits.
Can Foreigners Still Buy Property?
Absolutely. The abolition of the Golden Visa does not restrict property purchases in any way. Anyone from any country can still buy property in Spain freely. What has changed is that buying property no longer automatically grants you a residency permit.
Alternative Residency Routes
Several pathways to Spanish residency remain available. The Non-Lucrative Visa allows you to live in Spain without working, provided you demonstrate sufficient financial means (typically €28,000-€34,000 annual income plus proof of private health insurance). The Digital Nomad Visa, introduced in 2023, lets remote workers live in Spain if they earn at least €2,646 per month from companies outside Spain.
The Entrepreneur Visa is available if you plan to start a business in Spain that creates jobs or contributes to innovation. EU citizens, of course, can live and work in Spain freely under EU freedom of movement rules.
Impact on the Costa del Sol Market
The impact has been relatively modest on the Costa del Sol specifically. Golden Visa buyers represented a relatively small percentage of total transactions in the region, and the fundamentals driving demand,climate, lifestyle, infrastructure, and value compared to Northern Europe,remain unchanged. Prices in Málaga province continued to grow through 2025 and into 2026.
The Bottom Line
If you were planning to buy on the Costa del Sol purely for the Golden Visa, you will need to explore alternative residency options. But if you are buying for lifestyle, retirement, or investment, nothing has fundamentally changed. The Costa del Sol remains one of Europe's most attractive property markets.