Ukrainian Volodymyr Kinash launched a real estate agency in Spain. How he sells homes to global clients and what it costs — an interview

An unwavering optimist, Volodymyr Kinash founded his first business, A-Z Techno, in 2006, focusing on equipment sales and service. He started alone, investing his savings, as potential partners were hesitant. Operating under the motto “Cheap, high-quality, and fast,” Kinash worked until 1 AM for six months to build a customer base and navigate the fierce competition of 500 computer firms in Lviv.

The company became profitable within six months. Volodymyr began attending business seminars in Kyiv and studying marketing. Robert Kiyosaki’s phrase—that poor people seek jobs while rich people build networks—resonated deeply, leading Kinash to realize the necessity of a store network for substantial earnings. He registered the A-Z Techno trademark, consulted a lawyer for a franchise agreement, and selected partners from computer dealers, expanding the network to eight stores in Lviv.

Two years after launching his business, in 2008, Volodymyr fulfilled a childhood dream, purchasing a silver Volkswagen Golf with titanium alloy wheels, customized to resemble a sports car, for $6,500. Kinash believes this purchase significantly boosted his self-esteem and following success, serving as a reward for years of dedication. Later, after saving a financial cushion, Volodymyr then conceived a new project: observing dozens of houses from his ninth-floor apartment in Lviv, he envisioned each household as a potential income source and decided to connect the residents he saw to the internet.

Volodymyr invested his store earnings into developing the internet business. He attributes his success in every venture to entering the market during periods of growth. In 2008, when quality wired internet was scarce, Volodymyr and his brother acquired equipment, advertised in neighboring buildings, and were immediately flooded with connection requests. They obtained a license, registered an operator, and gradually expanded the network to 60 settlements. In 2010, they transitioned to laying fiber-optic lines, a more profitable direction.

In 2019, Volodymyr bought a house in Spain and moved with his family. His Lviv stores operated for nearly 20 years, but he closed the last one in 2025 due to market shifts and a lack of reliable partners. The internet network continues to operate, though Volodymyr sold 70% of the business due to new tax regulations and a shortage of specialists during the war. He continues to pay salaries to employees serving in the Ukrainian Armed Forces after Russia’s full-scale invasion, viewing it as fair support.

When did you first visit Spain as a tourist? What attracted you to this country for relocation?

I’ve always loved to travel; my wife and I visited Tunisia, Turkey, and several other countries. A friend recommended Spain: we went there in 2015 and were impressed by the climate—at the end of October, the temperature reached almost 30°C, and the sea was still warm.

The contrast was especially noticeable upon return: on November 5, when we landed at Ivano-Frankivsk airport, there were frosts already. That’s when I realized that I wouldn’t mind spending my retirement specifically in Spain. I started looking for a home in 2017 and bought it in 2019.

I consciously chose the city of Torrevieja. I wanted to live within the EU, so I carefully analyzed the entire European market. Southern Italy, Greece, and Cyprus were also interesting, but they proved to be more complex economically and had worse infrastructure.

We traveled extensively in Spain—visited Barcelona, Levante, Benidorm, Valencia—and loved it there. However, Torrevieja became the optimal option: affordable real estate prices and the possibility of obtaining a tourist license for apartments, which has long ceased to be issued in large cities.

Is a tourist license an official document for short-term apartment rentals?

Yes, for short-term rentals, every apartment must have an appropriate license; otherwise, you can only rent long-term. We applied for such a license—it cost about €400, and the waiting period lasted about eight months. After receiving the license number, the apartment can be listed on platforms like Airbnb or Booking.

It is especially profitable to rent out housing here in the summer: in July and August, the apartment I bought in 2019 for €60,000 was rented out for €130–150 per day. It quickly started to pay for itself.

When did you finally decide to move to Spain, and did you adapt easily?

Initially, we came as tourists: bought an apartment, stayed for the summer—and eventually decided to live here permanently. We saw that the climate is wonderful: sunny almost all year round, no abrupt weather changes like in Lviv, where there are rains, clouds, and mood swings. Our children were often sick there, but here we have 320 sunny days a year, which is inspiring. People are smiling, calm, and happy.

We continued to invest in real estate in Spain because it is a country created for enjoying life. I believe that one must be in a good place to be able to help others. I sought to have a safety net for my family in different countries and an additional business so as not to put all my eggs in one basket.

Did you feel a difference between Spanish and Ukrainian mentalities? Did you learn the language easily?

There are many Ukrainians in Torrevieja, so learning the language is not easy—I’m surrounded by the Ukrainian community; we even founded our own Ukrainian agency. I speak Spanish at a basic level, and my wife attends C1 level courses, although she doesn’t have much language practice.

The city is international: over 51% of the population are foreigners. Many residents are from South America, who find it easier to legalize, as well as Ukrainians, British, and Scandinavians who come here for the winter. You don’t feel like you are just in Spain here—rather a citizen of the world. This is what attracted me the most. When we arrived in 2019, we were met everywhere by Ukrainians who had been living here for many years. Thanks to this, we quickly adapted and rapidly developed the business.

What prompted you to start a new business—a real estate agency?

I knew the city well because I spent a long time choosing property here and bought several objects. Then I helped friends buy a home, and then organized the renovation and did everything necessary to rent out their apartments. And after 10 such people, I realized it was time to open an agency—a team was needed to provide a range of services: organizing the purchase, renovation, installation of security alarms, and renting out. In 2023, we founded the company Invest Life.

How many people are on your team? Does the agency employ only Ukrainians?

We make it a point to hire only Ukrainians and formalize their employment with a contract. We started with two partners. In Ukraine, I always built my business alone, but here I realized I no longer had the energy I had at 20. My partner has experience managing personnel and a large tire sales firm in Ukraine. We immediately took the official route—registered the company, obtained a license. There are significant penalties for tax evasion here. In total, we employ about 10 people, including remote operators who have autónomo status. All salaries are official. My partner handles the operational part. The average salary is about €1800, from which we pay the state €500 in taxes. In addition to fixed pay, employees receive bonuses and sales commissions.

After launching the agency, I was advised that we could have taken an easier path—buying a ready-made Spanish company with a customer base. We chose the more difficult option and initially encountered problems: we turned to the first gestor (administrator) we met, and due to his mistake, we lost about €5000. The company was registered and authorized to work, but it remained 'frozen' for some time due to difficulties with Spanish banks. It took us only four months to sort everything out and fully launch operations. It was a complex process—high taxes, bureaucracy, and a lot of paperwork. Starting up cost us approximately €20,000: we paid in advance for the premises, for the firm’s registration, and purchased everything necessary for the office.

To start working with Spaniards, we looked for native speakers. It was not easy; we met various people. We lost a lot in the beginning, but over time we found good specialists. We hired a Ukrainian who has been living in Spain for 15 years; he started cooperating with other agencies—selecting properties for us. We launched a rental department and contracted a woman from Kharkiv who has over 10 years of experience in real estate rentals. Simultaneously, we created a CRM system, launched a website, actively develop social networks, and engage sales managers.

Did you open an office immediately, or did you work online first? How long were you looking for premises?

Theoretically, it’s possible to work without an office. But it’s a matter of trust: when clients call, they always ask where they can come. It’s important for people to see that there is a team and stable work.

We looked for an office for about half a year—it’s a scarce real estate segment. We just walked the streets with my partner and looked for direct offers. As a result, we found a premises of 160 m²—enough even for future expansion. We have the rental department, a podcast studio, a reception area, the director’s office, and a kitchen there. And we didn’t make a mistake with the choice. The rent costs about €1300 per month.

What is the general situation in the Spanish real estate market right now?

If you look at the market, prices for new construction are rising by an average of 12–15% per year. Resale housing has also become more expensive, sometimes even more so, because it currently has the highest demand.

When I first came here in 2015, you could see studio apartments for €20,000. Now, their minimum price is about €70,000, so the cheapest housing has increased in price the most. And a villa that cost €300,000 may now be worth €450,000. That is, the more affordable the property was, the faster its price grew, and therefore, small housing remains the most liquid and popular among buyers.

Has the demand for real estate in Spain changed, for example, after 2022?

The demand here has been consistent for a long time. There is a big problem: few properties and many people willing to buy. Therefore, some clients are ready to pay a deposit immediately—within 5 minutes as soon as the apartment appears on the market. There are no properties for people to walk around and choose from. If something is on the market [for a long time], it is usually illiquid or overpriced.

Where did your first clients come from—social networks? Did you run ads or targeted marketing?

Our first clients were my subscribers, connections from my time in Ukraine. I only started being active on social media in Spain, and it was a challenge: it’s not easy to be yourself on camera. You have to learn to speak correctly, quickly, and concisely. I recorded many videos that friends shared. That’s how clients from Poland, Lithuania, and Latvia came. Our clientele is predominantly Ukrainians from Canada, the USA, the Netherlands, the Czech Republic, Norway, France, and a great many from Great Britain. A small portion of clients are Ukrainians currently residing in Ukraine. Publicly, we position ourselves as a Ukrainian real estate agency and deliberately do not work with Russians.

Regarding targeted advertising: it usually doesn’t work here. Even partners who have been in the market for over 12 years say that targeted ads in this field are simply a waste of budget. We rely on the development of social networks—we maintain pages in Ukrainian, Polish, Spanish, and English. Currently, the main focus is the English-speaking audience: the British and Scandinavian markets are wealthier and easier to work with, because the lower the client’s budget, the more problems there are with the purchase. Therefore, we are actively developing social media in English and looking for a native speaker to help with content and who can eventually become a manager for these locations.

What documents are needed for a foreigner to buy property in Spain?

In Spain, all you need for this is to obtain a foreigner’s tax identification number, which is called the NIE here. You are not required to have the right of residency in the country or a local passport.

Do you work in the entire region or just in your city?

We cooperate with a legal company that provides services to our clients anywhere in the Valencia region, so we can work there. But most of our properties are within a 50 km radius toward Murcia, Cartagena, and Alicante.

How fierce is the competition in this area, and how do you win it?

The competition is actually impressive. About 400 agencies operate in the city. Everyone who arrives is a blogger today and tomorrow a broker or realtor who unofficially sells real estate. We take the official route, perhaps with not very big steps, but with positive, bright people in the office who motivate each other. The team is the key to success. We will grow over time.

To measure with numbers: how many clients do you have per week or month?

It varies. There were cases when we sold four apartments a day, and there was also a week with no sales. On average, there are 5-10 sales per month, in addition to our other services.

What other services does your agency provide?

We have contractors who do renovations. We draw up the estimates ourselves, and control the process and quality. It is very important to involve local specialists, because renovation in Ukraine and Spain are completely different things: not the same materials, a different climate.

After the work is completed, we always install a security alarm to protect the housing from ocupas. Owners get remote access to the security system and can check at any moment who enters the apartment and whether it is being rented out. Everything is transparent, with maximum trust—people can be calm about their property. And we rent out their properties.

How much do such services cost?

It all depends on the scope of work. If it’s about cosmetic repairs in an apartment from the 2000s—it is enough to remove old furniture, refresh the walls, bring in new furniture—this option will cost up to €5000.

And if a complete overhaul is needed—replacement of tiles, plumbing, appliances, and installation of air conditioners—then for a standard apartment of 50–60 m², it will already be €25,000–30,000.

What do you do on slow days and weeks? Do you try to look for new clients?

When there are fewer clients and free time appears, we start to analyze what can be improved and develop our media presence. Of course, there have been downturns—sometimes competitors poached our managers, offering higher salaries. Then we focused on improving the organization, website, and social networks.

The market here is competitive: Ukrainians have many options, and each agent acts in their own way. Success largely depends on the managers. The simplest secret is a good attitude towards people, trust, and a personal brand. When this is present, clients come themselves because they see that we work comprehensively.

How are fees calculated in your agency? Does it depend on the value of the property?

We do not take commissions from buyers; in the city of Torrevieja and the surrounding province of Alicante, the commission is paid by sellers or real estate agencies that cooperate with each other, sharing their commission. The agency commission may vary: it depends on the property and its price, usually amounting to €3,000–€5,000 or 3–5% of the property’s value. If it is a new development, the commission is typically 10%. Plus, 21% of this commission amount is added as the IVA tax (VAT).

What are the most popular properties being bought?

Currently, the most popular apartment option in Torrevieja is a home with one or two bedrooms and a living room. Prices range from €100,000 to €150,000. Compared to Ukraine, there is much more bureaucracy here: transactions take several months and are often delayed. Or even fall through.

Our advantage is cooperation with a reliable legal company. It is a Scandinavian firm where a Ukrainian woman with 20 years of experience in Spain works with us, checking all documents before the deal. Out of all the apartments we worked with, problems were found in only three: the impossibility of obtaining a tourist license, hidden debts, or a mortgage. The lawyer helps to avoid risks and future legal issues.

Difficulties often arise during the process: buyers postpone dates, sellers change terms or raise the price despite the deposit already received. Most sellers are elderly people who have many precautions. About 70% of transactions are complex. Preparation usually lasts up to three months, sometimes longer if there are missing documents or someone is on vacation. We closed the fastest deal in 9 days.

The property purchase tax in the Valencia region is 10%. Notary services cost about €1200, and registering the deal costs another €800. The annual property tax (IBI) for an apartment worth €100,000–150,000 is about €320 per year, and utility costs are approximately €300–400. The maintenance of the home generally costs €600–700 per year.

Have deals ever failed?

Yes, this happens quite often, despite the huge work of the team. It is always unpleasant: there are stresses, conflicts, different people, and situations. Sometimes the seller failed to provide the necessary certificate, or the buyer changed their mind at the last moment. And sometimes it’s a complete trifle: for example, a broken toaster was found in the apartment. The owner forgot to fix it, and the buyer was offended and decided they were being cheated. And although the owner bought a new toaster in ten minutes, the trust was already lost. This happens more often in collaborations with several agencies—information gets lost, a request might not reach the owner, and a minor detail can cause the deal to fail.

There is another type of client—those willing to take risks. In Spain, you can sometimes buy an apartment cheaper if you quickly resolve a problem associated with it. For example, some buyers take homes with ocupas and agree with them to leave for a few thousand euros. This way, they get the property significantly below the market price. This is a perfectly normal, albeit risky, practice.

What percentage deposit must a client pay when buying a home, or is it at their discretion?

The deposit amount is usually fixed—in 90% of cases, it is €3000. Sometimes owners ask for more—€5000 or even €10,000, especially if the apartment’s value reaches €200,000 and higher.

Regarding the IVA tax (similar to VAT), it is always added to the commission amount. The standard is 21%, although a reduced rate of 10% may apply to certain types of activities. We immediately warn clients that the payment is 'plus IVA.'

What types of properties do you sell and rent?

Mostly regular apartments, various ones—large and small. Also, bungalows, detached or semi-detached houses: as they are called, townhouses. Garages are sold less. Commercial real estate is practically not sold because there is very little of it physically here. In general, large Spanish cities have long since canceled the tourist license—Madrid, Alicante, Barcelona, and Valencia. But in Torrevieja, this possibility still exists.

Is there seasonality in your work? Or is the demand in Spain stable throughout the year?

Seasonality is mainly felt in rentals, although we mostly rent homes for the long term. Overall, the market movement is constant: some clients buy in autumn or winter to have time to get a license and rent out in summer, while others buy in spring or summer when they come for vacation.

There are repeat buyers who purchase several apartments. We offer discounts for such clients and select the best properties. Sometimes we manage to find options that are €20,000–30,000 cheaper than the market. One of my first clients from Lviv bought a studio for €47,000 and a second one for €38,000. Now he is extremely satisfied: today, the minimum studio costs about €80,000, and a three-room apartment that was €100,000 then is now at least €150,000.

In your opinion, what is the most difficult thing in the real estate business?

As I said, the market is very competitive, and there is a shortage of properties. In addition, most transactions are legally complex—about 60–70% of them. This takes a heavy toll on the managers, the operations director, and the lawyer. The work is stressful, and I know many who have burned out: some drank, some fell into depression, or simply left the profession.

If you don’t take care of yourself, don’t exercise, and don’t have family support, it’s hard in this field. People give a lot of energy to clients who often call dozens of times because they are worried—for many, this is their last money from property sold in Ukraine, so they fear risks that don’t exist.

What do your clients not understand about real estate in Spain? What do you open their eyes to?

The most important thing is that in Spain, the price per square meter is not calculated as it is in Ukraine. Everything here depends on many factors: location, type of house, presence of a pool, utility costs, neighborhood, distance to the sea, and even the wind zone. The smaller the home, the higher its price. This is difficult for people to explain.

They also often compare transactions with Ukrainian ones, but Spain has completely different legislation and procedures. We explain that the client can make their life easier and do everything through a lawyer who will check the documents, re-register utilities in your name, and act as an interpreter and tax representative. Lawyer services cost about €1000, but people are surprised why they have to pay.

If you do it yourself, you will have to find an interpreter, re-register utilities, submit documents to various authorities, and spend a lot of time on bureaucracy. We can partially advise, but your personal presence is still required. Because you can issue a notarized power of attorney to a lawyer, who will do everything on your behalf, but not to us. However, many people still think that everything should work the same way as in Ukraine.

Do you plan to expand the real estate agency into a network?

In this business, everything is decided by personnel. If there is a person who can take the position of development director and take over a number of processes, then anything is possible in the future. For now, I dream of enjoying life and doing what I love. In my opinion, the greatest happiness is in the balance between earnings, business scaling, health, and quality relationships.