Would you like to buy a property in Spain? Are you dreaming about relocating to Spain and contemplating how can I buy a house in Spain? Where to search what exciting properties are for sale?
There are a few essential points to bear in mind before you make the exciting leap into property ownership in this beautiful country. Many people have relocated to Spain to live their lives and there is no reason to delay.
You may wonder how to achieve the goal to buy a property in Spain. Costs are the central issue, of course, that everyone including the seller, are concerned about, not only the price of properties but also the costs of living, legal fees and taxation.
Each region in Spain has differing rules and laws, but an excellent real estate agent will provide guidance from the initial search for the perfect house, villa or apartment, throughout the process to the final sale, so that even buying a property in Spain for dummies is achievable!
Our team of dedicated property advisors, with our fool proof approach to buying a property in Spain, will guide you through the intricate maze of property taxes, notary fees, registration costs, IVA, mortgage applications, dealing with the seller, and the various other legal elements and services involved. In this way, you have peace of mind as buyers, know all about how to buy property in Spain safely and get the best property for your money.
Property possibilities are endless, and we can advise how to buy cheap property in Spain by looking for properties in less popular areas or more inland and, if your move is not permanent, advise you how to buy a holiday property in Spain and possibly help buyers make money from an investment.
What is needed to purchase a property in Spain? 🤔
Our specialist team of advisors are on hand to provide free advice on all necessary requirements to purchase a property in Spain and where best to spend your money in this growing economic market. We love to see people transform their lives by obtaining residency here in the Mediterranean sunshine. Quite often people wonder how long to acquire property in Spain takes. We can help ensure you search and achieve your Spanish dream home as soon as possible and ensure the sale is as easy as possible.
As well-established agents, we can answer all your questions about the real estate market, various properties for sale, and ensure the experience is straightforward. One question often asked is “how easy is it to buy a property in Spain?” Our representatives will guide you, with a detailed explanation through each step, to the day you sign the deeds, to ensure all details and information are clear.
Apart from finding the perfect property, probably the next most crucial step is to obtain the compulsory identity and taxation documentation known as an NIE. For this you will need to pay for some of the legal and administrative services as many of these do not come free.
This step is imperative for any person wanting to buy a property. Obtaining the NIE is relatively straightforward, but it can take time, so we advise applying long before you commence your property search.
What does it cost to buy a property in Spain? 💰
Every property purchase in Spain attracts buying costs with variations depending upon the price of the property itself and sometimes the type of property development. This is the process when you will find that you have to sign many documents in order to gain your dream property and residency.
When buying a property in Spain, fees will include the following:
Notary Fees 📎
The Notary is the official responsible for providing the “Escritura”, the official stamped Deed showing the valid owner of the property. Both the buyer and seller need to attend the Notary to affect any transfer of ownership of land or property.
Taxes are another vital element to consider when buying a property in Spain. Taxes paid by the buyer include transfer tax and depend upon the value of the property on the amount to pay. Brand new developments attract the Spanish equivalent of VAT (known as IVA).
If you have any questions about your tax obligations and what money you will need to pay, you may check with the Spanish Tax Office (Agencia Tributaria).
How to get a mortgage to buy property in Spain?
Obtaining a mortgage through a Spanish Bank is a step-by-step process, and relatively straightforward provided certain elements to meet the criteria of the bank.
How much deposit do I need to buy a property in Spain?
Each bank has different criteria on how much deposit to buy a property in Spain. At the same time, Spanish banks are keen to lend and provide flexible pay options but require some may require substantial deposits. How much deposit do you need to buy a property in Spain can vary but expect between 10% and 30%.
How to buy property in Spain as a foreigner? 🛂
The process for buying a house in Spain as a foreigner from another country is relatively straightforward with no constraints. Even with Brexit and Coronavirus, Spain is encouraging foreigners to search and buy property.
To buy property in Spain as an American, initially an American visa is a requirement, as well as the right paperwork to allow you to complete a property purchase.
As a non-EU passport holder, and depending upon which country you live, the list of documents required to buy a property varies by region or personal circumstances.
For example, many regions require proof that they can pay by showing evidence of financial means, and that they have private health care, sign an employment contract and undergo criminal record checks, similar to that required by any country.
Suppose you seek assistance on how to buy property in Spain as an Australian or how to buy property in Spain as a Canadian, similar criteria apply. It is essential to seek assistance from a professional to deal with all aspects, including speaking to the seller. Getting help from a professional is imperative, for example, a recognised Spanish lawyer will help with translation, as all documentation will need translating by a certified translator. Quite usually an initial consultation with a reputable lawyer is free.
For US Citizens looking at how can an American buy property in Spain, we can assist with the application process to become a resident in Spain and advise on how to renew a residence card.
We often provide advice on who can buy property in Spain, but basically anyone with the correct paperwork can. There are methods on how to buy property in Spain from the UK, the most common is using the search facility on web property portals. Web portals provide invaluable services and are the best way to get a real feel for a property.
We frequently deal with the question “what documents do I need to buy a property in Spain?” and what will I need to sign. Again, it is always a good idea to ask a professional to help as this can vary. Typically, these documents will apply:
- Full passport
- Confirmation of private health insurance.
- Verification of your address, for example, be a rental contract or utility bill.
- Your NIE document
- Contract of employment
Can I buy a property in Spain after the Brexit? 👍
For those asking the question “can I buy a property in Spain after Brexit, and obtain the necessary residency?” The answer is a resounding “YES!”. For now, Brexit negotiations remain ongoing, and the situation will most certainly be similar to that when UK citizens looked at buying a property in Spain before Brexit.
Of course, we are still in that one-year period where, even though Brexit is official, now is a great time for buying a property in Spain. Brexit will change how we acquire property and residency in Spain and access all the available services, but until Brexit is finalised, there is still time to buy as though the UK is still in the EU.
There is still uncertainty as to how will Brexit affect buying a property in Spain and information is sometimes confusing. Still, we have enough confidence that Spain relies significantly upon the UK ex-pat community and will surely want to encourage future property sales.
For those asking, “can I still buy a property in Spain after Brexit?” we are confident that a reciprocal arrangement to benefit both the UK and Spanish without restrictions or hindrance. So is it safe to buy a property in Spain before Brexit becomes official next year? This is most certainly the case and we continue to speak with professionals including banks and lawyers, to bring you news and information on updates about Brexit and Spain.
Savvy property buyers need information and will ask all necessary questions. For example, is it wise to buy a property in Spain before Brexit? Our feelings remain strongly confident as the UK market make up a huge chunk of Spanish property buyers, and Spain will certainly encourage investment by Brits. Feel free to contact us if you have any specific questions about Brexit.
Where to buy a property in Spain 2020? 🏙️
When you make the decision to locate to Spain, made good use of online resources to search the market and find the perfect location. In this way you can also use it to find good resources if you need to find a good lawyer. You may wonder where to buy cheap property in Spain, whether it is a villa or an apartment. We can suggest locations with great value properties, and provide services about various areas and how the market is doing, including checking that properties are legal and correctly registered with the land registry.
Whatever your budget, you will find excellent properties at bargain prices coming regularly onto the market and the opportunity to transform your lives. Valencia is one such region and offers a fantastic Mediterranean lifestyle and beachside apartments. If you are wondering how to buy property in Valencia, Spain, we can advise on a great number of suitable, legal, properties to suit any budget.
Marbella is another area catering for a variety of budgets with an enormous array of town houses, apartments and villas. If you think Marbella is out of your budget, think again! Let us show you where to buy a property in Marbella, Spain, there are some great opportunities.
Spain remains a huge tourist destination and now is a great time to think about where to buy investment property in Spain.
Think about areas such as Alicante and let us show you what is on offer and how to buy property in Alicante, Spain.
Whatever your reasons for buying, we can assist you on where best to buy property in Spain and, possibly, where not to buy property in Spain! For example, Galicia is possibly the wettest region of Spain!
When asked to provide a favourite place, we can recommend where to buy a property. Malaga, Spain for example, has a lot to offer to the foreign property buyer.
Why not to buy property in Spain? ❌
One thing is sure, we can advise on why to buy a property in Spain and can think of no reason why not to! Spain has so much to offer, especially for transforming lives for the better.
When is the best time to buy a property in Spain? ✅
Now! Spanish property is always a smart investment. An asset within a thriving economy and constant growth in tourism, but more than this, Spain is affordable, has all the necessary services and amenities, and provides an ideal lifestyle that many people desire. ¡Viva España!