Risks Of Buying Property In Spain

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Risks Of Buying Property In Spain

Buying a property successfully in Spain is not an easy task, many uninformed foreign investors in Spain have lost all their capital with the intention of buying a property.

Here are some examples of the most important things to consider before buying a property:

  • Unlicensed beach villas
  • Rural villas that not supposed to be residential
  • Cement disease used in old properties (very important)
  • Prohibition of renting some kind of properties to tourists
  • Property repossessed by the bank
  • The real price of the property
  • Property that was previously commercial and turned into residential
  • Newly built properties that are pre-sold but never completed
  • Previous debts on the property

Property Purchase Process In Spain

With a passport, a Spanish ID number and the amount paid in your personal bank account in a Spanish bank, you will only be able to buy property in Spain.

If you would like to hire our team, we will be able to do all of the above with the our valuable experience, as well as with the help of Spanish lawyers selected by you, as well as by visiting the municipality to check the property from all angles. Initial search of the property, advice on choosing and accompanying the shoulder to shoulder until the moment you get the key, we promise that taking advantage of our experiences will save you thousand and thousand Euros.

Additional Costs

Under Spanish law, any foreigner who buys property in Spain must pay 10% tax to the government. In addition to taxes, there are about 4% of additional costs, including the cost of registering a property in your official name, the cost of a lawyer if needed, and the cost of renaming bills such as water, electricity, gas, and telephone…etc.

 
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