Visas for Homebuyers Coming to Spain

A blog about business and economics.
Nov. 20 2012 9:30 AM

Visas for Homebuyers Coming to Spain

People walk on the Fora beach, near the village of Finisterre, northwestern Spain, on November 10, 2012.

Photo by MIGUEL RIOPA/AFP/Getty Images

Here's a worthwhile Spanish initiative—anyone who purchases a home worth at least €160,000 (that's about $200,000) will be given a residency permit to go with it.

Now of course the Spanish labor market is not exactly a hotspot at the moment, so people aren't clamoring to get permission to work there. But this is still a potentially attractive offer to wealthy individuals living in politically unstable or undemocratic regimes who don't necessarily want to emigrate but are interested in obtaining a bit of a hedge against possible future emigration. For linguistic reasons there's obviously a particular appeal to Latin American elites.


It's worth noting that anti-immigration biases are so entrenched into the policy status quo everywhere that this perfectly sensible idea only emerges as a desperation strategy for an economically devastated country. Policies along these lines ought to be standard throughout the developed world. The level of political and legal stability that the United States has achieved is remarkable, and it's amazingly hard to replicate. We really have something to offer the world in this regard and ought to be leaping at the opportunity to import foreign skills and capital and create extra jobs at home designing and building extra houses for people.

Matthew Yglesias is the executive editor of Vox and author of The Rent Is Too Damn High.


Frame Game

Hard Knocks

I was hit by a teacher in an East Texas public school. It taught me nothing.

There Are New Abuse Allegations Against Adrian Peterson

After This Merger, One Company Could Control One-Third of the Planet's Beer Sales

John Oliver Pleads for Scotland to Stay With the U.K.

If You’re Outraged by the NFL, Follow This Satirical Blowhard on Twitter


Don’t Expect Adrian Peterson to Go to Prison

In much of America, beating your kids is perfectly legal. 

The Juice

Ford’s Big Gamble

It’s completely transforming America’s best-selling vehicle.

I Tried to Write an Honest Profile of One of Bollywood’s Biggest Stars. It Didn’t Go Well.

Here’s Why College Women Don’t Take Rape Allegations to the Police

The XX Factor
Sept. 15 2014 1:51 PM Here’s Why College Women Don’t Take Rape Allegations to the Police
  News & Politics
Sept. 15 2014 8:56 PM The Benghazi Whistleblower Who Might Have Revealed a Massive Scandal on his Poetry Blog
Sept. 15 2014 7:27 PM Could IUDs Be the Next Great Weapon in the Battle Against Poverty?
Sept. 15 2014 4:38 PM What Is Straight Ice Cream?
  Double X
The XX Factor
Sept. 15 2014 3:31 PM My Year As an Abortion Doula
  Slate Plus
Tv Club
Sept. 15 2014 11:38 AM The Slate Doctor Who Podcast: Episode 4  A spoiler-filled discussion of "Listen."
Brow Beat
Sept. 15 2014 8:58 PM Lorde Does an Excellent Cover of Kanye West’s “Flashing Lights”
Future Tense
Sept. 15 2014 4:49 PM Cheetah Robot Is Now Wireless and Gallivanting on MIT’s Campus
  Health & Science
Bad Astronomy
Sept. 15 2014 11:00 AM The Comet and the Cosmic Beehive
Sports Nut
Sept. 15 2014 9:05 PM Giving Up on Goodell How the NFL lost the trust of its most loyal reporters.