Purchasing property in Spain
is actually far simpler than in Britain; there are not usually the long ‘chains’ that you may have to endure in the UK. Spanish properties are often not listed for sale until the owners have already left, or have at least already bought their new property.
Purchasers should already have a Spanish bank account, and hold, or at least have applied for, resident’s documents. Today there is no residency card as in the past, but everyone must have an ID number, which for foreigners is the NIE number. This is Numero de Indentificacion Extranjeros, or Foreigners Identification Number. Your estate agent should be able to help you with these, but he will have to go through a gestor; adding to costs.
You can enlist the help of your own gestor, who you will need for help with other legal issues anyway. A gestor is like a cross between an accountant and a solicitor, and they have knowledge of all laws and legal issues, so will be able to act on your behalf in a number of matters.
Look for a gestoria (gestors’ office) that shows English speakers on staff if your Spanish is limited, or indeed non-existent.
All EU residents have a right to live in, and purchase property in Spain, and now absolutely anyone has that right, since the residency law of 2013 referred to as the “Golden Visa”, allows even non-EU residents to buy and to live in the country providing a certain criteria is met. As long established Javea estate agents we can advise non-EU residents on these specifics, as well as show you a superb range of Javea homes for sale.
Yes, not only is it possible, but is advisable to anyone who owns property they do not intend to live in full time. Javea homes for rent must be registered at the Ajuntamiento, or Town Hall, as intended for rent, and it must comply with certain safety standards regulations to be approved. You must also declare income from rents and pay tax on the rental income.
It is recommended that you place the property in the hands of an estate agency, as they will take care of cleaning between renters; ensuring rents are paid on time, and general maintenance, etc.
This is the perfect time to act, as ever since the 2009 market crash property prices have been steadily dropping. Houses, villas and apartment prices are now at an all- time low, and not only will you find a great property at an excellent price, but the upswing in the market means you will likely make a very good profit upon resale.
We offer some great value Javea apartments for sale as well as cheap villas, so take a look at the properties on our site, as there is something to suit every budget and taste.
The rule to safely purchasing property is to spend a little extra in enrolling the help of professionals. You may be wary due to stories you have read in newspapers about British people being ‘ripped off’ when buying houses in Spain, but more often than not this was by companies who claimed to be building luxury accommodation and showed mock-up pictures of the intended properties, which in the end was land the developers did not own or without the correct permissions. These illegal properties were eventually destroyed, leaving the new owners without recourse as the developers had long since disappeared.
Other would-be purchasers went online, saw a property they liked and did all the negotiations over the phone or online; only to find they had been sold a ruin; or nothing at all.
As long as you go over to view the property first, and do everything legally with the help of professionals every step along the way, you will have no such problems.
If you need help first selling a UK property, visit The House Shop
This depends upon your reasons for purchase, and the intended use of the property. For instance if you are looking at apartments and villas for sale in Javea to rent to summer vacationers, you will need to look at properties close to the beach and other local amenities. If looking for a retirement home, you may want to be where there is a close expat community, and somewhere within easy reach of shops, entertainment, and medical aid.
If you intend to live and work, you must research the area carefully, and ask locals and expats about the availability of work in your field, or what jobs may be going like bar work or in hotels and stores. Be aware that in coastal resorts jobs are usually only for the summer season, and many locals claim unemployment in the winter. The Spanish system is such that people can only claim if they have previously paid contributions, so inform yourself thoroughly before going ahead.
Perfect areas for investment right now are the Costa Blanca and Costa del Sol; as tourism is thriving, and so those buying to rent will have a good chance of maximum occupancy, and are also guaranteed a great holiday property with good weather, should they decide to use the property themselves. As a place to live this is also a great choice as these areas have the best all-year-round climate in Spain and are a perfect place to buy with the intention to re-sell.
In Javea, there are three main areas where you will find a good choice of Javea apartments, namely the Arenal area, the old town and the port. Those looking for villas in Javea for sale may also look at these areas, along with some of the urbanisations for larger properties such as Portichol, El Tosalet and Pinosol. For cheap property Javea offers some good deals in just about all areas, although the lowest priced properties will typically need some sort of renovation.