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MADRID Earlier this week the Secretary of State for Trade, Jaime García-Legaz, announced that the government is studying changes to the Foreigners Law in order to issue residency permits to foreigners purchasing properties for over €160,000. It is aimed, he added, at the Russian and Chinese markets, and that the changes will take place 'in a few weeks time.' The established purchase price is, said García-Legaz, at a 'balanced level' that is not expected to cause a 'massive demand for residency permits' and a lower price could serve as an 'excuse' to obtain residency.>>>
