With the execution of Brexit, many things change and, in the words of Raisa Venermo who is a founding partner of the firm specialized in international mobility for foreign companies and investors AvaLanding, from now on it will be "difficult to have a work permit as an English teacher or to teach Spanish classes ".
There are options within the current legislative framework that allow lower taxes to be paid for non-residents who become tax residents in Spain. This is the case of the so-called ‘Beckham clause’, according to which it is possible to choose to pay the non-resident tax instead of the same tax for residents.
Foreign investment in real estate will be reactivated as soon as global travel restrictions are lifted. According to Raisa Venermo, founding partner of AvaLanding, "there is a strong interest in Spain for the quality of life that the country offers, a situation that has not changed despite the global crisis." In this sense, Venermo predicts that foreign investment in real estate "will gain momentum when the borders are opened."
Real estate recovery in 2021. Raisa Venermo, co-founding partner of the AvaLanding consultancy, highlights that foreign capital is waiting for the opening of the markets - some still closed due to the measures against Covid-19 - to make their investment decisions, " because individuals, despite advances in digitization, still want to see the properties in person before making a decision, especially if they are residential ". News published in @ElEconomista
The absence of international buyers encourages opportunism in luxury apartments. However, Avalanding's founding partner, Raisa Venermo, points out that, although cold due to the situation, the international buyer will return to fish in Spain with interest, especially with the arrival of telework, which is seen as an opportunity to attract foreigners interested in the quality of life in the country.
As part of the company's expansion and growth process, AvaLanding has decided to have Aki Peltola on its team to strengthen the Merge and Acquisitions (M&A) area. "We offer one stop shop to clients, from investment planning to the execution of their operations in Spain," says Aki Peltola, of Finnish origin and a broad connoisseur of the Spanish market. Likewise, it underlines that another of its functions consists of "assisting clients in running their business day-to-day and adding value in how to improve their profitability".
Foreign investment bound for Spain: stop or take off in 2021? Opinion article by Raisa Venermo in Inmueble Magazine. "Foreign capital - if the corresponding measures are adopted to preserve decisions for the future and of great economic significance - will continue to see Spain as an attractive destination, an investment hub and a platform for the future, beyond the coronavirus," says Venermo .
How would a second wave of the coronavirus affect housing? Lourdes Santiesteban, founding partner of Avalanding, comments that as housing prices adapt, “we may see a growing interest from foreign investors in search of opportunities, because there are opportunities and because Spain is a country in which they like to invest, despite that taxation is not the most attractive ”.
How is the foreign investor behaving in the face of the pandemic? Are you still interested in investing in Spain? For Raisa Venermo, purchases by foreigners will recover and even increase. “More mature generations from central and northern Europe who are about to retire focus their interest in coming to Spain. This is still intact. In the same way, there is a very strong interest by professionals who have the opportunity to telecommute and choose to live in attractive destinations such as Spain. This target is also buying in our country ”.
Raisa Venermo: "There will always be interest from foreign capital to invest in Spain. Large funds and multinationals tend to react earlier and look at macroeconomic indicators and numbers from another perspective than a private investor or who wants to expand his company, or to buy real estate to come to live in Spain ".
AvaLanding has won the tender for the Barcelona International Welcome (BIW) project. "We are very proud from AvaLanding to be able to develop this project, which will lead to a relevant improvement for web users," says Raisa Venermo, AvaLanding co-founder partner.
Lourdes Santisteban, CEO and also a co-founding partner of the company, highlights that Barcelona City Council and Barcelona Activa "are doing a very good job promoting and serving the city to attract international talent."
The price adjustment due to Covid reactivates the sale of luxury homes. “There is a small trend to the price drop and operations are beginning in luxury properties. Some clients who had ruled out the investment have come back ", explains Lourdes Santisteban, partner and co-founder of AvaLanding, a company that assists foreign property investors, among other assets.
Opinion article signed by Lourdes Santisteban for Revista Inmueble. "Spain is consolidated as a focus point for foreign investment. Madrid and Barcelona continue to be two poles of attraction and interest for foreign capital and companies that have reactivated initiatives to land in the country, especially for quality of life, a value that trades in times of pandemic ".
AvaLanding in La Vanguardia. In this report about falling demand in the offices market, CEO Lourdes Santisteban foresees its recovery in the medium term and trusts that the influx of foreign companies to establish their businesses will modify this trend. "We have not noticed any change in the willingness of our clients to come to Barcelona," she says.
The city of Barcelona will continue to be an opportunity for foreign investors and companies seeking expansion and growth. This has been the fundamental premise of the webinar organized jointly by the AvaLanding company and the Barcelona City Council, aimed at an international public with an interest in settling in the city to develop their businesses.
Raisa Venermo: "The good part of this situation is that with foreign investors, they come from all over the world, and there is always interest and money, as well as the need of changing scenaries in somewhere in the world. That is why we foresee that international investment it can recover earlier than the national one. There are people from all over the world who are always interested in investing in Spain. "
Raisa Venermo: Spain will benefit "from the telecommuting boom that has fostered the coronavirus."Specifically, this expert reiterates that "the whole world" has realized that for working doesn't matter where are you located, "which benefits Spain because of their climate and especially the housing on the coast ”.
Raisa Venermo: "Although this has been an unprecedented crisis, the business world is used to dealing with crises and it is always looking forward to future projects. We foresee that Barcelona will continue to be the Silicon Valley of Europe and will continue to attract international talent, as it has done so far. ”