It says it all in the title. Mariano Rajoy is considering offer non-resident property buyers the chance to have citizenship if they can afford the purchase of a 130,000€ property.
Spain has about 700,000 unsold properties on the market and this appears to be a move to help shift some of the housing stock and to get some high worth individuals onto the books and into Spain. its also a move to try and lower the “bad debt” current considered to be at about 10% of total loans.
This a isn’t a first, in Ireland you can get residency with a 400,000€ purchase and in Portugal, 500,000€.
Property Works Mallorca 2012