13.01.2025 
Buying property abroad is an important step that requires careful analysis. Spain and Italy are often chosen as attractive destinations for investment and permanent residence. In this article, we will compare the key aspects of buying property in these countries to help you make an informed decision.
Key advantages of living in Spain and Italy
Climate and nature
Both countries are located in the southern part of Europe and have a favorable Mediterranean climate. Spain has a more stable and hotter climate, especially in the south, which attracts sun lovers. Italy, on the other hand, offers a variety of climatic zones - from the warm south to the cool north with the Alps, which allows you to choose the right option depending on your preferences.
Medical services
Spain and Italy have public health systems, accessible to citizens and residents. In Spain, medical services are often considered to be better organized, with fewer queues, while in Italy the health care system can be overloaded, especially in the south of the country.
Investment opportunities and visa programs
Golden Visa
Spain offers a "golden visa" with an investment in real estate from 500,000 euros, which allows you to obtain a residence permit. Italy offers a similar program with a minimum investment of 250,000 euros, however, access to this program is currently limited for Russians.
The Italian golden visa includes investments in startups, businesses, securities and socially significant projects, while the Spanish one includes investments in real estate, securities or government bonds.
Cost of living and taxes
Property cost
In Spain, the average property price is around 2,120 euros per square meter, with higher prices in Madrid and Barcelona. In Italy, the average cost is lower - 1,839 euros per square meter, but in large cities, such as Milan, prices can reach 4,987 euros per square meter.
Taxation
In Spain, the corporate tax rate is 25%, and personal income tax is up to 47%. In Italy, corporate tax is 24%, and personal income tax is up to 43%. Spain offers tax benefits for digital nomads, which can be beneficial for investors.
Education and culture
Educational opportunities
Spain attracts with its business schools, such as IE University, which offer programs for future entrepreneurs. Italy, on the other hand, is known for its universities in the arts and design, such as the Polytechnic University of Milan.
Cultural features
Spaniards and Italians value free time and enjoyment of life. Spanish culture is characterized by flamenco and bullfighting, while Italy is famous for its art, architecture and fashion. The choice depends on personal preferences: lovers of vibrant festivals will prefer Spain, and connoisseurs of art - Italy.
The process of buying property
Spain
- Need to obtain a Foreigner Identification Number.
- Completion of the transaction through a notary.
- Payment of property transfer taxes (Property Transfer Tax) from 6% to 10%.
Italy
- Obtaining a Nulla Osta (certificate of no impediment to obtaining a visa).
- Submission of documents to the consulate and obtaining an investor visa.
- Taxes for residents from 2% to 9% for non-residents.
Conclusion
The choice between Spain and Italy depends on your personal priorities and investment opportunities. Spain offers more accessible conditions for obtaining a residence permit through real estate investment and a stable healthcare system. Italy, on the other hand, attracts with its culture, variety of climatic zones and a lower minimum investment amount. Both options have their pros and cons, so it is important to carefully analyze all aspects before making a decision.
