The figure that counts for a Golden Visa is the total value of investment in property registered on deeds of purchase inscribed in the Land Registry (el Registro in Spanish). You’ll need to check with a lawyer specialising in Golden Visa applications, but I don’t think money spent on renovations will count. However, if you buy another property like a parking space for €15,000 that will count to your investment and take you to the €500,000 level that entitles you to apply for a Spanish Golden Visa.
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