Housing shortages have fueled Spain’s anti-tourist protests, with locals blaming short-term rentals for rising property prices, making it harder for residents in tourist-heavy areas to find affordable homes.
Hotel101-Madrid, which is part of listed developer DoubleDragon Corp.’s aggressive global push, allows Filipinos and other foreigners to own property in Spain.
A major selling point os attaining a Golden Visa, which grants residency to foreign property buyers spending 500,000 Euros or about P31 million. This is equivalent to three Hotel101-Madrid units.
“It will be optional for the Hotel101 unit buyers if they wanted to apply for a Golden Visa with their purchase of the Hotel101 units,” Sia, the chair and CEO of DoubleDragon, said in a statement.
“But it is worth noting that since Hotel101 is building a fresh inventory of units, it will not reduce the existing housing inventory in Spain, but will add economic activity in Spain through the purchase of land, generation of jobs from the construction phase up to the operation of the project, plus the long-term continuous recurring taxes that this project will bring in,” he added.
Investor Visas have been released
Meanwhile, DoubleDragon announced the release of the first batch of Spanish Investor Visas (Golden Visas) issued to Hotel101-Madrid unit owners just six months after their purchase.
The company envisions operating one million rooms across over 100 countries, with 25 priority countries identified for expansion.
Global expansion
Hotel101 operates a chain of condotels, which will be sold to individual investors but will be operated by the company.
Apart from Spain, it is also building Hotel101 projects in Niseko, Japan, and Los Angeles in the United States.
