BUYING PROPERTY IN SPAIN

 

 

 

Buying information - There are a couple of things that maybe of help before you get started looking for a property to buy in Spain.

 

This information listed below you may already know but then again may not.

 

Exchange Rates

All prices of the properties are quoted are in Euro. To convert Euro to £'s Sterling use the Currency Conversion link in the left column.

 

Prices

All property prices EXCLUDE Spanish tax (IVA).

 

Spanish tax

Is calculated according to the value of the real estate, which is normally about 7% of the property purchase price.

 

The Rate of IVA for a new building is 7%

 

The Rate of IVA for a resale/old building is 7% Property Tax

 

Payment Conditions

New Property to Be Constructed, requires £2000 upon reservation, stage payments are arranged to a mutually convenient timetable and contracts are exchanged.

 

Solicitors

All our transactions are conducted by our solicitors who are bi lingual. They can act for all your legal requirements, from start to finish and ongoing fiscal representation.

 

 

Other information

 

• All Spanish properties for sale are freehold.

 

• Providing that a deposit of 30% is available, finance is generally open to anyone and is not subject to rigorous credit checking.

 

• The interest rates in Spain are usually lower than the UK (Please ask for current rates).

 

• Compared to some areas of the UK, Spanish property prices are considerably lower.

 

• Over the past few years, property prices in the southern Costa Blanca area have increased substantially, and the trend continues still today.

 

• If you raise finance in Spain to purchase a property, you must allow another 2% of the purchase price in your budget for legal fees, taking the total to around 12%.

 

 

Please note: These are guidelines and this is Spain - laws and figures can change at any given time. Spanish Country Property will not be held responsible for any misunderstanding of the guidelines laid out on this page.