SPAIN REAL ESTATE PROPERTIES
Spain's Real Estate Market
The Spain's housing market outlook is upbeat with sales expected to increase from about 500,000 units last year to between 625,000 and 650,000 in 2019, according to TINSA. Nationwide house prices are projected to rise by between 5% and 7% this year. Demand continues to rise strongly. In the first eleven months of 2018, home sales in Spain surged 10.6% to 481,220 units from the same period last year, after annual rises of 15.4% in 2017, 14% in 2016 and 11.5% in 2015, according to the Instituto Nacional de Estadistica (INE). The continued increase in transactions was mainly driven by foreigners buying homes on the coast and in cities like Barcelona and on the Costa del Sol, one of the country's most popular areas with overseas purchasers. Most foreign homebuyers are Britons, French, Germans, Belgians, Italians and Swedes.
The total roundtrip transaction cost is around 9.50% to 15%. This includes the Property Transfer Tax, which varies from 6% to 10% depending on the autonomous region, and the real estate agent's commission, which is around 2.5% to 3%.
International Real Estate Investment in Spain
A foreigner can legally buy and operate real estate in Spain. Like some EU countries, Spain is always a real real option for an investor who wants to diversify his portfolio and enjoy a favourable economic trend.
The real estate market in Spain is favourable for transactions and investments for several reasons:
- A transparent and open system.
- The law is in favour of the owners and protects them.
- A foreigner can become owner in Spain.
- Taxation is favourable.
The European Union and other some countries signed an agreement, allowing to avoid the double taxation.
Before Purchasing a Property
In order to have a clear definition of your project and meet your goal, it is necessary to process as follow:
1. DEFINITION OF YOUR OBJECTIVES
Before any process or research, it is necessary to define tangible objectives for your future investment: a rental profitability or an appreciation of your property, etc. We help on market specifics.
After Defining your budget, our team in Spain will make available all the best properties that meet budget and your goal.
3. INVESTMENT STRUCTURE
Creation and registration of your company within 72 hrs. until ID Tax number id provided by the tax authorities of Spain.
4. BANK ACCOUNT
Following the creation of your company, the next most important step is to open a bank account for all the transactions related to your investment: Rent payments, property tax payments, etc. The opening of your account can be carried out remotely by our Spanish team on presentation of your credentials and registration of your company in Spain. You will have access to an online bank and will be the sole owner and manager of your account.
Purchasing a Property
Besides the definition of your project and the creation of your company, our Miami Team will support you in the research, negotiation and acquisition of your real estate property.
1. PROPERTY RESEARCH
introductory market study will help outline your research and target opportunities on properties for sale, new or pre-construction. Click below to see our listing.
2. VISIT OF PROPERTY
Our Team will also help you to schedule your stay in Miami in accommodation, travel, property showings, etc. Then, you select the most appropriate property before drafting an offer.
3. OFFER AND DRAFT PURCHASE CONTRACT
After final acceptance, the Purchase Agreement is written according to the rules of the Florida Bar and the Realtors Association. A deposit of 10% of the amount is required at the signing of the contract. It will be blocked on the Escrow Account of the Title Company in charge of necessary investigations.4. SIGNATURE AND “CLOSING DISCLOSURE”
After due process, Contract is signed and the balance and other fees shall be paid. Agency and Notary Fees: 1.5-5% of the amount
Our Spanish Agents and Reprsentatives are always here to assist our prospective international investors to meet their needs. We give our clients a full representation and bring them all the tools needed to realize their real estate investment safely.When investing in Croatia, our priority is to make sure that this investment is protected as well as the investors under the Laws of Croatia and the European Union. Having a legal structure in place will be beneficial in many ways: 1) Better Tax Optimization, 2) Privacy and 3) Liability.