How to profitably buy property in Spain: A Buyer’s Guide

Spain beckons with its climate, measured pace of life and high standard of living. For many foreigners, buying their own home is relevant if they often visit the country or plan to move here. It can also be a long-term financial investment – for the purpose of subsequent short-term or long-term rental.

Foreigners should take into account the main nuances of concluding major transactions in Spain, so that buying a home in a warm country is colored with exceptionally pleasant emotions. Thanks to attractive lending conditions and a simple system of taxation of housing, its purchase is available to foreigners.

Where to start looking for a villa in Spain

The purpose of purchasing a home does not affect the process of finding suitable options or the registration procedure. And if you decide to move to live in a hospitable country and plan to visit here from time to time, the selection of apartments should be done carefully.

It will not be superfluous to take into account the following recommendations:

1. Determine the region in which you will select real estate. Look at the location on the maps, photos of the area and learn about the features of the climate. The best adviser is your own impressions, so visiting the city of your dreams is a must at the stage of selecting options.

2. Pick a real estate company with a good reputation. It is preferable that its office and representatives are located in the same country where you select housing. This is an especially important factor if you plan to make a remote transaction without going to Spain. If you know who to contact, study the reviews, communicate with representatives of the agency on issues of interest.

3. Prepare a package of documents after consulting with realtors. Experienced agencies will tell you what documents foreigners need to purchase real estate with a full calculation and registration of a mortgage. It would be useful to find out about the taxes when buying a villa, the features of its maintenance and subsequent expenses before the transaction.

Approach the issue of buying apartments abroad consistently, and the dream of owning an apartment in a sunny country will become a reality.

How to get a residence permit when buying property in Spain

Many would like to live and work on a permanent basis in a tourist country with a mild climate. Legislation allows this dream to be realized in several ways. One option is to purchase a home worth at least half a million euros. What a buyer who plans such an investment needs to know:

– you can buy several real estate objects in different regions of the country – for commercial purposes, land, apartments;

– in the application for a residence permit, you can include family members – a spouse, minor children and dependent relatives;

– all documents are submitted personally;

The review period can last from 20 to 40 days.

After a long downturn in the housing market amid a prolonged pandemic, housing prices have stabilized. It is a long period of price reduction and the expectation of profitability growth that gives the answer why now is the most advantageous time to buy apartments.

With the intensification of tourism, the proportion of those who are considering immigration to Spain in the shortest possible time is also increasing. Therefore, the purchase of an apartment or house today for a full payment or a mortgage will be a timely investment.

Promising investment in housing

Numerous tips for buyers of apartments from around the world rarely give an answer to the question of where it is most profitable to buy a house.

For the purpose of permanent residence, investment or rental, the criteria may be different:

– an apartment in a major city, if you are tied to a place of work, an apartment on the coast of a resort, a villa on the islands or a house in a remote village;

– the availability of the necessary infrastructure – for a family with children, the proximity of schools, hospitals, pharmacies, and the availability of public transport will be important;

– the condition of the property, communications and the need for urgent or regular investments.

You can take into account all the nuances and calculate the options with qualified advice from professionals.

If you do not know whose help to resort to buying property in Spain and the Canary Islands, contact the House Tenerife real estate agency

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