How to buy an apartment in Spain

If you ask the question: “Is it difficult to buy an apartment in Spain and what is needed for this?”, Then we are ready to help you with this. Depending on the goals, budget and preferences, you can buy fairly liquid objects in an ever-growing investment field. At will - it can be a region populated by Russians, or distant from prying eyes. Here you can find excellent housing at a discount, get a mortgage, even if you are not a citizen or it is profitable to invest money in the project. We will tell you how the types of real estate differ, what you should pay attention to and how to buy an apartment in Spain.

Are there those who would not want to live in a country where the sun shines 6 days a week. Everyone can easily find something to their liking: excursions to historical sites, trips to the hinterland, winemaking, alpine skiing, swimming in warm sea water or a trip to the mountains. A couple of weeks is clearly not enough to appreciate all that it offers.

How to buy an apartment in Spain

Where better to live?

Choosing which city you like more for the future is not an easy task! Regions and regions are incredibly versatile, and each carries both positive and negative qualities for immigration. First of all, you need to make a difficult choice and understand, a metropolis or a cozy town, sea or mountains, in close proximity to the “movement” or away from everyone? According to the analytics rating of a favorable climate for children and adults, as well as health, entertainment and transportation, this paradise is in the tops.

We decided to describe the 4 most sought after provinces.

  • Catalonialies along the Costa Brava north of the capital and south through Costa Dorada . The characteristic features of the north along with the sandy coast and picturesque bays are the incredible landscapes of the foot of the Pyrenean mountain range. The south is famous for its plain landscapes. It is in high demand among the guests of the country due to the boiling green nature and is densely built up. Anyway, this is the northern side, which means winter is more severe, and the summer period is shorter. This is due to low temperature and warming of  It is considered quite difficult to adapt area among visitors.
  • Valencialikewise stretches from south to north in a thin strip along the sea. The climate is more arid, which can be clearly seen in the landscapes of Benidorm . Previously, the area was densely populated by the British, but then they chose Chovey and Dénia . Alicante is known for its dull nature and dense population due to the low cost of housing and the excessive number of migrants of different nationalities. Murcia the last couple of years are very interested in investors from the United Kingdom. Local government is most conducive to the development of the construction business in the region. The price of housing is reasonable, and the climate is slightly dry. Many people are confused when moving to water problems in the area.
  • Andalusiais perhaps richer than anyone in terms of climate diversity, landscapes and cultural heritage. Moderately hot climatic conditions beckon overseas residents for permanent residence .
  • Islandsoffer a maximum of exotic and the best service, but also the highest level of value. It does not scare wealthy foreigners. On the contrary, the lack of “budgetary” neighbors, the incredible beauty of the local nature, architecture and breathtaking reliefs are pushing an increasing number of wealthy Europeans to at least spend the winter among all this.

How to buy an apartment in Spain

Where do 'ours' live?

Of course, there is a slice of investors who are interested in large cities like Barcelona and students with immigrants, whose location depends on the place of study and work. But most Russians choose resorts. What could be better than relaxing on the azure coast of the Mediterranean Sea? That's right - live there. And the closer to the southeast, the more in demand and more expensive.Alicante on the Costa is in special demand among our compatriots. Blanka. You can rightly be called a “Russian” city in this province of Torrevieja

Not without Russians and in Catalonia and its capital, Barcelona, ​​as well as on the entire coast of the Costa Brava.

For the better-off, the question 'which region to choose' is not worth it. Malaga, Estepona and Marbella are clearly in the top list with a VIP sign. They concentrate maximum luxury services for a luxurious life:

  • Golf courses
  • Courts
  • Elite real estate
  • Chic beaches
  • White yachts
  • Exclusive Shopping
  • Permanent social events

How to buy an apartment in Spain

Our advice

The real estate market at some point literally collapsed due to the global crisis. But, due to the fact that the country itself is very popular and has always attracted foreign investors and those who want to buy a villa or apartment on the coast, in 2015 the figures leveled off, and at 16 they went into positive. For 2018, housing has increased in value by 3.8% and according to forecasts of experts and analysts will continue to grow. Today, the averaged concept of square meter on the market is announced at 1,585 €.

We, frankly, believed that enough has been written about this question, but our clients continue to ask advice 'how, what, and so on.' Of course, as in other locations, there were no pitfalls and distinctive features. And we perfectly understand where such excitement and excitement around it come from.

For our compatriots, this is a serious step, as a foreign country, other legislation and it is easy to “fly by” and take illiquid property. In any area there are dishonest people, and you do not understand will get a one-room apartment, intended for demolition and debt for 5 years ahead.

You will need a minimum of action, because you live or come to rest in these apartments for you. Take a walk around, look at the residents, cars, pay attention to the schools and gardens nearby and what kind of children study there. Talk to one of your potential neighbors.

How to buy an apartment in Spain

Making conclusions based on what you see will be easy. If you only come across Arab signs and inscriptions, then most likely this is a refugee or ghetto area, which is not very good.

Assess also the infrastructure, transportation hubs and terrain. Take a walk in the evening: how noisy traffic? Can you sleep well?

Be sure to consider the nuances of living space. The surprising difference is that the last and the first floors are rated highest. The layout is more open and modern: huge living rooms and miniature bedrooms, two or three bathrooms. Some windows can even go out to the patio.

Floors in high-rise buildings are indicated differently than ours. The first can be considered a floor at ground level or second. It is called bajo.

The lower tier can be not only residential, but also commercial (offices, retail outlets, restaurants, etc.). Numbering as in England always begins with the second. Ie, 2nd Russian will be 1st Spanish.

How to buy an apartment in Spain

Now let us dwell on the types of apartments themselves:

Studio (estudio)

This is a simplified version, consisting of one room and a bathroom separately. It serves as a kitchen, a bedroom, and a living room. This is the cheapest form, so more often it is chosen for students, bachelors, short vacations or for renting.

Apartment (apartamento)

Apartamento are divided into bedrooms. If you read the ad, where it is written two bedrooms, it means that it is three-bedroom.

Penthouse (atico)

The last floor of a high-rise complex will always be more expensive. In fact, you overpay for a panorama and a terrace, which can be accessed through a balcony or a staircase. Such objects can be two-level.

Loft

Unusual for the province, but often found in Madrid or Barcelona. Most often it is a converted production workshop of a large area. Most often these are former garment or printing factories. Distinctive features - high windows and ceilings, space, use in the decoration of brickwork, beams, pipes, metal and wood.

Bungalow

Piso bajo is the lower tier of a two-story building. They look like a townhouse , do not have entrances and elevators, and you can get to each bungalow through a private entrance from the street.Usually there is a private courtyard in front of it, which can be converted into a garden or barbecue.

How to buy an apartment in Spain

Rights and obligations of foreigners

Buy housing can non-residents. No need to get different permits, residence permit or becoming a resident. Registration can take place with both physical and legal face.

The share of foreign investment in this sector is at least 15 percent annually. The lion's share of them are citizens of Germany, France and the UK. If you take a non-European Union, then China and Russia are considered active.

Also, the legislation does not provide restrictions on the types of real estate. This may be the primary and secondary markets, investing in the unfinished building, villas with land, plots of land for building and so on.

Anyone who buys 'square meters' will be obliged to pay state and municipal taxes upon registration, as well as make timely payments. Also make the appropriate payments provided by the rental legislation.

For tax wards of the Russian Federation, any action on the territory of Spain should also take place in compliance with the laws of Russia. The tax office strictly controls this.

How to buy an apartment in Spain

Purpose

What is a guide for you personally? Before you make a purchase, answer yourself: 'why do I need this?'

So, there are several reasons that drive the acquisition, affecting the choice:

  • Seaside holidays in high season
  • 'Wintering' in a more pleasant climate
  • Permanent residence
  • Study, work
  • Treatment
  • Comfortable old age in mild climate
  • Investment in rental business

The further direction depends on the goal. For example, for people of age it will be important to be able to hide from the heat, the proximity of shops, pharmacies and hospitals.

How to buy an apartment in Spain

For those who want to come to the sea for a while, it is better to choose a studio or villa by the sea, if you have the means to provide year-round care for it. They can be given through an authorized representative during the periods of your absence. The maintenance of estates and estates is extremely unprofitable if you plan to use them only for short holidays. Imagine if you want someone to clean the pool, clean the rooms, pay for utilities, repair the roof, monitor the security and heat them for the winter.

If you are planning to rent out - immediately think about how the potential customers like the place. This may be the proximity to the beach, distance from excessive noise, proximity to transport, city center or accommodation near one of the famous attractions.

The most serious and thorough approach is moving to permanent residences. Such housing requires scrupulous verification. On the subject of comfort.

Another important reason why people buy property in Spain is the opportunity after registration to apply for multiple Schengen. He gives the opportunity to stay here for up to 90 days in the first half of the year. If this is not enough, then you can apply for a residence permit.

Here there are no problems with this at all, since the popular legislative program of the “golden visa” has been operating for 5 years already. If you have invested in 500 000 Euros and more - you can get a residence permit for the whole family.

How to buy an apartment in Spain

Search

Start with a market assessment. Ideally, it will be offered to you at the agency along with efficiency analysis. If you decide to do it yourself - read independent sources, visit forums, find those who have recently bought.

The main problem of the whole process is that you are here and the apartments are there. Turning to the bases, you can bet on the fact that in fact is not at all as good as in the picture.

And here we again come back to the fact that it is necessary to make such serious transactions with the participation of specialists who are on site and offer only proven options. On your behalf, such a manager can not only see the lot and show it to you via video link, but also by proxy become a representative of the buyer.

How to buy an apartment in Spain

How to find a good realtor?

Before you search, you should know the following nuances:

His presence is desirable, but not necessary. The only one who is legally required is a notary

For obvious reasons, contact the Russian-speaking Agency. Look for our compatriots, of whom there are quite a lot. It will be easier and clearer to cooperate with them, besides, they know that they want “their own”.

Real estate activity here is not subject to licensing. This is a simple business that is very easy to open. Check the company, so as not to contact non-professionals or transient. A good company has experience, reviews, representation in several cities, membership in local associations.

The order and amount of remuneration for the service is not fixed by law. On average, this figure - 3-5% of the price. But among the unscrupulous 'helpers' there is a practice to draw up a contract of sale through a chain of specialists in order to inflate the value, and accordingly - their fee. To avoid this, check the ad database. Look for your studio or penthouse from a different owner or at a different cost. Just in case, you can order an assessment online on the website from most banks.

There is no standard package of services. Some are engaged exclusively in search and documents, others can. Represent your interests, carry out post-purchase property maintenance, even buy furniture, hire a gardener and conduct Wi - Fi. Personally, we are adherents of a full service cycle of a luxury class.

How to buy an apartment in Spain

Algorithm for the purchase of apartments

  • Training

To do this kind of settlement, you will need to get the alien identification number NIE (Numero de Identificacion de Extranjero). It is issued at the consulate or in the immigration department.

  • Local bank account

Without it, a money transfer is not feasible. To open you will need your INI, proof of income, passport, certificate of employment. Accepted paper only with translation and apostille.

  • Deposit

Once you have decided on the purchase, remove it from sale by booking. It is customary to leave from 4 to 5 thousand, the seller will issue a receipt on receipt of which. After that they check for debts, property rights and encumbrances.

If obstacles are identified - the seller makes a return of the deposit.

Preliminary agreement. (Contrato de arras). The agreement specifies penalties for refusal or delay, as well as obligations and is transferred to 10%.

  • Mortgage application

Loan approval takes from a week to a month, so keep this fact in mind when discussing deadlines.

  • Conclusion of a contract in the presence of a notary
  • Renewal of utilities to the new owner

In conclusion, we offer a little trick: how to calculate what price to expect, so that it is “lifting”, but not cheap.

Just multiply the family's annual income by 4. For example, for a year you get 50,000, which means the maximum limit available to you is 200,000.

The fact is that financial borrowers do not give the entire amount, but only 80%. Therefore, in order to cover all costs and make a start-up payment - with 200 thousand it is necessary to have 50 thousand on hand.