Should you use a luxury real estate agent in Spain? How to get a mortgage in Spain? Which city in Spain should you choose to buy a profitable property?
Formalities for buying a property in Spain
The purchase of a property follows different rules for a resident in Spain, United Kingdom, France or another.
Obtaining the NIE (Número de Identificación Extranjero), the fiscal identifier given to foreigners living in Spain, is mandatory for any foreigner wishing to buy a house or an apartment in Spain. This number is essential to sign the deed of purchase of a property, but also to open a bank account as a “non-resident”. The reception of the NIE in Spain takes an average of 10 days.
It is advisable to seek professional help.
The advantages of using the services of a property hunter to buy a house or an apartment in Spain
A specialized real estate agent will offer you a personalized service according to your needs and your budget.
Advantages of buying a house or an apartment in Spain
Housing prices in Spain are much lower than in European countries, for example.
In addition, real estate investment in Spain is exempt from property tax.
Mistakes to avoid when buying a property in Spain
In Spain, the surface area quoted by owners and agencies is the built surface area, including a percentage of the thickness of walls, balconies, terraces, etc.
Beware of double commission. Some agencies charge a commission to both the seller and the buyer, while the agency commission is usually paid by the seller.
However, in some regions, such as Valencia, Alicante or Murcia, the commission is split between the buyer and the seller.
Buying a luxury apartment in Barcelona
Catalonia is the most popular region for French real estate investment in Spain due to its proximity to the French border. 13% of French homeowners in Spain chose Barcelona, the administrative and economic capital of the region.
Barcelona is Spain’s second largest city in terms of population and activity, and the eleventh most populous in the European Union, thanks in part to its coastal location and Mediterranean climate.
However, Barcelona is the most expensive city in Spain and property prices have risen steadily in recent years, including an 11%.
Buying a villa on the Costa Brava
Girona is located on the Catalan coast in northeastern Spain.
Girona is easily accessible by plane or car. Girona airport has become an annex of Barcelona airport, and hosts numerous flights from various European cities.
Girona’s urban network is quite dense. In addition, the Costa Brava offers the infrastructures and services (health services, hospitals, transport, etc.) as well as the stores (food, shopping, etc.) necessary for a comfortable and safe daily life in your villa.
Buying a Villa in the Balearic Islands
The Balearic Islands are an archipelago located off the eastern coast of Spain, in the Mediterranean Sea. Mallorca is its largest island, with the Marina of the Islands.
If you want to buy a property in Mallorca, you should take into account the APR or Annual Percentage Rate. This rate, expressed as a percentage, indicates the effective cost, including the interest you will have to pay for a cancellation.
Buying a Mansion in Marbella
Marbella is a city and seaside resort in southern Spain, on the Mediterranean coast of Andalusia. It is located in the Port of Marbella Costa del Sol in Spain, 57 kilometers southwest of the city of Malaga and 100 kilometers northeast of the Strait of Gibraltar.
Here you can enjoy outdoor activities such as golf, tennis, soccer, horseback riding, water sports or skiing in the Sierra Nevada mountain range, which is a two-hour drive away.
Evenings in Marbella are bathed in the scent of jasmine and orange blossom. You will hear the echo of flamenco music in the distance from your window. Mansions.
Buying a villa in Alicante and the Costa Blanca
The province of Alicante is located in the southeast of Spain. It has the highest proportion (19%) of foreign residents of all the Alicante marinas on the Spanish Costa Blanca. Property prices are also among the lowest in the Spanish coastal market.
The average price of a property in Alicante for a foreign client is 134,000 euros, while in Malaga it is 205,000 euros, in Madrid 170,000 euros, in Barcelona 215,000 euros and in the Balearic Islands 300,000 euros.
Alicante is, in fact, the first Spanish province in attracting foreign home buyers, with 22% of foreign purchases in 2016 in Spain, well ahead of the province of Malaga (13%), Barcelona (9%), Madrid (8%) and Baleares (7%).
Luxury real estate
Seduced by Spain, its investment returns and its coastline? Contact us for more information and advice on how to make a smart real estate purchase.