That might be worthwhile for someone that has $200K to spare. Most countries make you jump through lots of hoops to get permanent residency. For $200K you get residency in Spain but can move to any of the Euro countries if I understand how things work there.
“For $200K you get residency in Spain but can move to any of the Euro countries if I understand how things work there.”
Bingo.
All details not revealed yet, but I expect exactly what you wrote. As long as you do not stay there at least 183 days, you will not face income tax. You will pay property tax. By renting out your property a few times a year, you could pay the tax.
In the meantime, you would have the right to reside anywhere in the 27 EU countries. A cheap way to go.
As long as you remain on tourist status, the State loves you. It is only citizens that are treated like milk cows.