These days, many Indians are interested in buying a home in Europe. Many intend to purchase because they want to settle in the region, whereas others intend to make European real estate investments. If you’re looking to learn more about the European property market and want to buy a home there, this guide has all the information you need.
Indians interested in EU properties
The increasingly affluent population of India is reportedly searching for residency in safe havens where they feel more secure and have more prospects for employment. These investors don’t just consider moving to idyllic places; they also think about how nations have responded to the COVID-19 outbreak while making decisions. In this way, the European Union was regarded as one of the world’s safest travel destinations. Additionally, Manu European nations like Portugal, Malta, Canada, and Grenada provide Indians with a suitable job, academic, and investment opportunities.
Permits required
While purchasing real estate in Europe may appear advantageous and enjoyable, it is not as simple as it seems. To be able to buy land here, Indians must meet several standards. Without a resident visa or other approvals, the officials forbid foreigners from purchasing land in these nations. The requirements for obtaining an EU resident permit are listed below.
- Valid ID card
- Stable job
- Sufficient monetary resources
- A place to stay
- Schengen visa
- Stay in the country for 5 years
- Valid passport
- Clear criminal history
You can apply for citizenship with investment in countries after getting a resident permit and investing in land.
Top European countries for Indians
The best European real estate markets for immigrants wishing to trade in real estate, whether they are first-time purchasers or investors looking to build and expand their portfolios, are listed below.
Portugal
Under the Portugal Golden Visa scheme, you can petition for citizenship for a maximum of five years before becoming a legal resident if you finance at least €500,000 in local properties. Before investing in real estate in Lagos, there is just one thing to watch out for: con artists. Always check to see if your agent is licensed and authorized with the Associacao de Mediadores Imobiliarios. Additionally, before thinking about buying or renting a house, you should consult with a lawyer or skilled attorney.
Malta
In Malta, a home may cost at least €174,514 and an apartment may cost at least €104,737. Anyone wishing to invest in Malta may also benefit from the hospitality environment. There are also excellent medical facilities, a substantial English-speaking community, and a warm atmosphere in general.
Spain
Land prices are anticipated to increase over the next few years as a result of the area’s appeal. So, foreigners may want to think about buying corporate or domestic property valued at least €500,000 given the decline in European house prices as soon as possible. Also, Indians planning to buy land must meet the requirements for Spain’s Golden Visa program.
Italy
There are no restrictions on the buying of real estate in Italy for Indians. A global contract must approve the purchase, and their money must be duly documented. There are no limitations on what EU citizens can purchase, though.
Switzerland
Indians aren’t permitted to purchase homes in Switzerland, however, if they operate there, they are allowed to buy vacation homes or second homes. Non-residents are free to purchase corporate property as long as they intend to invest in it.
Cyprus
Indians can purchase vacation homes and real estate in Europe rather cheaply in Cyprus. But they are subject to several restrictions, such as a one-property cap and the requirement to apply for multiple licenses with the Council of Ministers.
