{"id":8213,"date":"2020-11-03T03:33:13","date_gmt":"2020-11-02T22:03:13","guid":{"rendered":"https:\/\/capitalante.com\/?p=8213"},"modified":"2020-11-03T20:39:41","modified_gmt":"2020-11-03T15:09:41","slug":"buying-a-property-in-spain","status":"publish","type":"post","link":"https:\/\/capitalante.com\/buying-a-property-in-spain\/","title":{"rendered":"Buying a Property in Spain | All you need to know"},"content":{"rendered":"

The Spanish property market has several reasons that make you want to step into the business. Whether it’s for your residence or rent, buying a property in Spain pays off.<\/span><\/p>\n

This is due to the rich culture and history of the place. It attracts tourists and travellers from all over the globe who come to see the beauty of Spain.<\/span><\/p>\n

However, as a foreigner, buying a property in a country where you do not have much knowledge of, can be risky. <\/span><\/p>\n

It comes with several factors that you must be aware of, some things you need to take care of to avoid scams and fluctuations of the Spanish property market<\/a>.<\/span><\/p>\n

This guide on how to buy a property in Spain is all you will need to go through before making a final decision. <\/span><\/p>\n

We have covered a list of topics in this guide that are more than enough to give you an idea of Spanish real estate.<\/span><\/p>\n

Is buying a property in Spain a good investment?<\/span><\/strong><\/h2>\n
\"Buying
Statistics by capitalante.com for the Number of registered housing sales in spain from 3\/2019 to 6\/2020<\/figcaption><\/figure>\n

 <\/p>\n

First things first. Are you planning to buy a property or do you want to rent one? If you plan to stay in Spain for a short stay then renting would be the best option.<\/span><\/p>\n

However, if you are up for facing the business deals in Spanish real estate, then look no further. Owning property in Spain has its benefits.<\/span><\/p>\n

The country has over 80% of residents owning their own homes.The best part is that having your residence in Spain opens the door to getting a Spanish passport.<\/span><\/p>\n

The Spain Golden Visa program enables investors and foreigners to get Spanish citizenship in return for buying real estate of a value of at least \u20ac500,000.<\/span><\/p>\n

Not only do you get to live in one of the top countries of Europe, but the affordable lifestyle in a country rich with cultural heritage is what you get too.<\/span><\/p>\n

The cost of living in Spain is a lot cheaper as compared to other European countries. Spain is well-known to be a welcoming country that allows foreigners to settle there and get Spanish citizenship.<\/span><\/p>\n

Other than that, the high number of tourists that flood Spain every year is a great way to get the most income out of your property.<\/span><\/p>\n

You can easily get your property rented by tourists and earn a handsome amount of money this way. Other aspects such as a prosperous economy and the tourism industry make buying a property in Spain worth it.<\/span><\/p>\n

<\/h2>\n

Where to buy a property in Spain?<\/span><\/strong><\/h2>\n
\"Buying
Buying a Property in Spain<\/figcaption><\/figure>\n

Any foreigner looking to settle in Spain has a variety of regions to choose from. The country is filled with beautiful areas and small towns that give you so many options to choose from.<\/span><\/p>\n

Properties are bought in Spain from all around the world but the British, Germans, Italians, and Swedish people are the top buyers. The top regions where foreigners decide to settle are described below.<\/span><\/p>\n

Alicante Region<\/span><\/strong><\/h3>\n
\"Buying
Buying a Property in Spain<\/figcaption><\/figure>\n

Coming on the top of our list is the Alicante region. The name translates to the city of lights and is a popular area for foreign investors to invest in. <\/span><\/p>\n

It is situated close to the south-eastern coastline, has several beautiful beaches nearby, and the region is filled with traditional Spanish style properties.<\/span><\/p>\n

The climate of the area is perfect. The old towns of the Alicante region are well-known for their delicious cultural cuisines and seafood restaurants.<\/span><\/p>\n

Andalusia<\/span><\/strong><\/h3>\n
\"Buying
Buying a Property in Spain<\/figcaption><\/figure>\n

Just around the southern coast, the province of Andalusia is the center of tourism in Spain. The climate of the region is hot and dry. Andalusia, however, has several beaches that attract tourists from all over the world.<\/span><\/p>\n

Properties in Andalusia can give off a good income due to the high number of visitors. The province is flourishing with its fishing industry. Starting up a seafood restaurant might also be your cup of tea.<\/span><\/p>\n

Madrid<\/span><\/strong><\/h3>\n
\"Buying
Buying a Property in Spain<\/figcaption><\/figure>\n

Madrid is the heart of Spain. When it comes to buying a property in Madrid, the pros of living there are just endless. <\/span><\/p>\n

The city is full of art museums and historic places that make it the biggest attraction to tourists.<\/span><\/p>\n

The city is populous, and the properties are a bit expensive as compared to other regions, but eventually, the cost gets compensated by the high income of rent.<\/span><\/p>\n

Madrid is one of those cities that never sleep. It is ideal for a high standard of lifestyle, and the daily living expenses are not an issue either.<\/span><\/p>\n

How much will property in Spain cost?<\/span><\/strong><\/span><\/h2>\n
\"Buying
Buying a Property in Spain<\/figcaption><\/figure>\n

The most frequently asked question about Spanish properties is, of course, the cost. To answer that, it is necessary to analyze the number of factors that an investor handles when buying a property in Spain. It would be quite difficult to come up with an estimated amount.<\/span><\/p>\n

Many factors are to be taken into account, such as the region, the town, etc. However, taxes are certain.<\/span><\/p>\n

Overall, the seller gets to pay some of the taxes, an estimate of 25% of what the seller profits, goes to the government.<\/span><\/p>\n

Such is not the case with the buyer. But to give you an idea of taxes on buying a property in Spain, below are some of the basic fees that you\u2019ll need to keep in mind.<\/span><\/p>\n