The investment program in Spain in properties must fulfill the minimum investment requirement which is 500,000 euros. There is no difference if it is a land, apartment, country house, or if it comes as a foreclosed properties. So the answer is YES, foreclosed properties are acceptable for the residency-by-investment program of Spain. There are several ways to invest in foreclosed properties. If the bank has foreclosed and is in foreclosure proceedings against the debtor, it is advisable to contact the bank and negotiate a purchase price. It is possible that the property is already auctioned and awarded to the bank so you only have to contact the bank to value the sales price of it. Finally, it is advisable to go to the auction site where all the properties in Spain are auctioned and where you can find good purchase opportunities.
How can I invest in foreclosed properties and qualify for Spain’s RBI program?
I am wondering if foreclosed properties are acceptable for the residency-by-investment program of Spain. I know of some good properties in the market with great appreciation potentials and I want to make an investment.