Spanish Property And Real Estate For Sale Guide
Spanish Property For Sale
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Spain covers a large area of land and is blessed with sunny weather for most of the year which makes it a particular favourite with expatriates from other EU countries.
Capital gains tax is not charged for residents who sell their main residence but is charged on second home sale and is reduced annually for inflation and length of ownership.
You should officially note any money or funds brought into Spain so any sale proceeds can be repatriated.
There are no restrictions on Foreign Ownership.
Property and Real Estate Prices in Spain
Range Varies, for example:
From around £10,000 / $15,000 for inland properties in need of
restoration (check for water supplies).
From around £20,000 / $30,000 for apartment style homes on the Costas (Canaries and Balearics come at a premium of over 15%).
Small villas from £50,000 / $75,000.
Larger villas from £65,000 / $95,000.
Exclusive homes especially near Marbella can be into the millions.
Locations to buy real estate and in Spain
Coastal resorts of Spain such as the Costa del Sol and Blanca are popular especially for winter sun as well as the Canary and
Balearic Islands (Majorca etc). Madrid and Barcelona offer a cosmopolitan feel and stunning architecture. You will generally have to go inland for bargain homes, but be aware of mains services.
Living Costs in Spain
Spain enjoys a good quality of life with general consumer goods and property being favourably priced compared to incomes, which reflects in its popularity for retirement homes.
Buying property and real estate in Spain
Buying a Spanish property will normally be
contained in a private contract with a deposit of around 10% payable which is binding by law. It is possible to agree a contract where either party may change their minds at a financial cost. The private contract should contain details of the agreed deposit payment, purchase price and details for payment of the outstanding balance of the agreed buying price plus any additional extras and your intended completion. A Notary will prepare the official contracts and make sure it complies with
Spanish regulations. If there is common ownership a Community of Owners must be established through which community charges can be shared. If your property is contained in an apartment block then the law will relate to the Horizontal Division and this should be clarified, especially in new developments. Any property sale or purchase in Spain should be registered in the Land Registry and its important to make sure any relevant taxes are paid before this is done.
common practice for the sale and purchase price to be understated by Spanish sellers, enabling them to reduce their tax liability and reducing your stamp duty fees. However, you could be liable for Capital Gains tax on additional profit once the true price is declared and non residents will normally be expected to deposit 5% of the sale proceeds with local tax offices until any agreements are reached, and could have liability by both seller and buyer if the profits are in excess of set limits.
You would expect to pay a total of around 10% of the purchase price for property / real estate in Spain. This could include Stamp duty, charged at 7% of the official selling price (4.5% for the Canaries), and 0.5% for contract documents Land Registry is charged against a rateable table held by local authorities. There will also be a tax on the increase of the land your property lies on since it was last sold and should be paid by the vendor. Notary fees will also be
included in the total costs.
All your Spanish property taxes will be based on the official price registered, not on selling prices and you would expect to pay under 1% annually, plus additional service taxes set by the local authority. Wealth tax charges apply for residents after 17m ptas of net assets; if you donít apply for residency you could be charged tax for all your net assets. Rate varies from fractions of a percent to over 2% depending on net assets.
Spanish lenders will allow you to borrow against Spanish property and can usually be arranged in most major currencies normally over terms of up to 15 years, with exception of 25 years at up to 80% of the buying price.
For more information on buying property in Spain, please visit the Spanish Governments website:
Our guide will not cover all the legal and full
financial information for your Real Estate purchase but should enable you to get an idea of the financial involvement.
Click here for further information about property in Spain
Spanish Property For Sale
Apartment overlooking harbour
Home + Business
Roquetas De Mar
Roquetas De Mar
Detached House + Pool
El Puerto de Santa Maria Cadiz
Costa de la Luz
House + Pool
Costa Del Sol Spain
Detached Furnished House + Pool
Costa CŠlida Spain
Apartment + Pool
La Galera Tarragona
Finca + Land
Costa dorada Spain
Cottage Garden Property + Pool
Costa Del Sol
Townhouse With Shared Pool
Detached House + Casita + Pool
Villa With Pool
New Apartment On Golf Complex
Large Villa/6 Internal Apartments
Luxury Detached Villa + Pool
Valle del Jerte
Fully Restored Farm
Large Furnished Apartment
€22,000 or €27,000 depending on week.
Europe France, Cyprus, Spain, Italy, Ireland
, Turkey, Bulgaria, Slovenia, Portugal, Andorra, Switzerland, Sweden, Belgium, Austria, Greece, Germany, Poland
Asia - Sri Lanka, Philippines, Thailand, Nepal
Africa - South Africa, Egypt, Morocco, Seychelles
Central America - Costa Rica, Belize, Honduras, Nicaragua
South America - Brazil, Venezuela
Caribbean - Antigua, Antilles, Aruba, Bahamas, Barbados, Jamaica, Montserrat, Nevis and St Kitts, Puerto Rico, St Lucia, Trinidad and Tobago,
Virgin Islands, Dominican Republic
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