CHEAP PROPERTY IN SPAIN

Cheap property for sale throughout Spain

BUYING IN SPAIN

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Cheap property in Spain
Buying property in Spain

Yes Yes Yes, we know you cant wait to get started but there are some things we should point out.

This isn't small print, far from it, but it is the truth and it is something that a prospective purchaser of ANY overseas property should be made aware. They may be things you have already thought of, but then again, they may be not. So put the kettle on, read, digest, then browse.

 

Exchange rates

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

 

Prices

All Prices EXCLUDE Spanish VAT (IVA).

 

Spanish VAT

Websites related to Spain, information about Spain, learning Spanish and Spanish companies.

  • Is calculated according to the value of the real estate, which is normally about 7% of the purchase price.
  • The Rate of VAT for a new building is 7%
  • The Rate of VAT for a resale/old building is 7% Property Tax

 

Payment Conditions

New Property to Be Constructed, requires £2,000 upon reservation, stage payments are arranged to a mutually convenient timetable and contracts are exchanged.

 

Solicitors

Well, we all need them. 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.

 

Annual Running Costs and Hints and Tips

The actual costs of running a home in Spain are currently considerably cheaper than that of the UK. The following is based on a 2 bedroom property worth around £60,000.

  • Standing Charge for Electricity and Water - £100
  • Local Rates - £100
  • Community Charges - £160
  • Building and Contents Insurance - £60
  • Property Tax - £300
  • Spanish Fiscal Representative - £60
  • Rough total: £680
  • Payable monthly, that's around £65 per month...

 

Tips and Useful Information

  • All properties in Spain 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%.
  • Daily Flights are available from most UK airports.
  • Anybody who books a viewing tour will be met by our uniformed staff on arrival at the airport.
  • When booking an inspection trip, or if you are staying longer It is advisable to arrange medical cover. This can be obtained free of charge, by completing an E111 form, from your local post office. Form E111 does not cover you if you decide to reside in Spain See booklet for more information.
  • All deposits are payable direct to the developer or builder.
  • Check with the Builder or Developer to find out EXACTLY what's included in your property. Worst case scenario is that you go to switch on a light and nothing happens.
  • Because you forgot to ask whether light fittings were included in the price........... You can't take for granted what is normal in the UK that it is going to be provided in Spain.