If you are thinking about purchasing property in Spain, it is very important that yourbuying process goes as perfect as possible. The best way that you can obtain this is by dealing with an agent and an independent lawyer who are able to speak your language fluently.
The following are the most frequently asked questions that we obtain from visitors who are thinking about purchasing property in the beautiful country of Spain.
No, it is not complicated, especially when you compare the process to that of purchasing property in the United Kingdom. Purchasing property in Spain is a lot simpler. It has been noted that the process in the United Kingdom is more time consuming, and thus, it might take a couple of months before you can move into any property that you purchase there. Since in Spain properties are listed when there are no occupants present in them, sales are able to go through very rapidly. There’s not a lengthy waiting period. Of course, just like in any other country, when you are purchasing property in Spain, there is paperwork involved. Before you can buy Spanish property, you will be required to open a bank account at a local bank and apply for a residency permit. An estate agent (also known as Gestor) can do this for you if you are in the United Kingdom and thus are not able to travel to Spain in order to do this on your own.
Yes, anybody can purchase property in this country, as in 2013, its government approved a residency law known as the Golden Visa which allows non-EU investors to purchase property and obtain a residency permit. This permit allows people to stay in Spain for as long as they want. For those individuals who are European Union nationals, this residency permit is automatically given to them.
Yes, you can certainly do that! It’s important to note that you will be required to register your property with the local town hall and pay tax according to your income. If you are not going to be anywhere near the residence, it’s important to think about hiring an agency or an individual who can overlook the property in order to show it to renters and give them the keys, as well as to clean on changeover days and be able to be present if any issue arises with a visitor. A lot of people in Spain tend to make meaningful sums by renting out their Spanish holiday houses while they are very far away.
It is not a secret that in 2009 the Spanish property market crashed, but things seem to be picking up with investors and buyers. Right now, you will be able to find numerous of properties at very low prices, which makes it the ideal time to purchase a property so that you can sell it a few years down the line at a meaningful sum.
Even though there have been horror stories in the media in regards to people having bad experiences while purchasing a property in Spain, there is still no reason for you to expect things to go down the hill with you, too, as every day, many transactions go through successfully without any issues. In order for you not to have any issues, it is recommended that you hire the services of a lawyer.
The answer to this question depends on your current situation. If you work from home, you can live anywhere you please, but if you are moving to Spain and will need an employment, your best choice will be to reside in large cities like Valencia, Madrid,or Barcelona, as these cities offer many employment opportunities for those individuals who come from afar. In smaller towns, there is less work; sometimes the jobs are seasonal. It’s important to note that in most rural areas, there tends to be no Internet service; therefore, you have to analyze and ask questions about the area that has caught your eye.