Spain has drawn a flood of Americans in recent years, lured by its warm climate and more affordable lifestyle. The question now is whether the end of the country’s golden visa program will stem the tide.
Golden visas, which allow wealthy foreigners to gain second passports by investing in real estate, have been increasingly popular since the pandemic. But as home prices surged, the influx of new residents fueled backlash across the continent. There were roughly 41,000 Americans living in Spain in June, a 39% increase from three years ago and double the number from 2014.