If you are thinking about buying a property in Spain, we have lots of tips for you. Economic situation in Spain looks really good and the Real Estate market is growing again. The situation is like 2007, the year before the crash as confirmed by Bloomberg. So, the timing is great because rentings are increasing and the Return On Investment can be very high.
Below, we are going to offer you a general vision regarding Spanish legislation for foreigners who want to invest in Real Estate Spanish market.
First of all say that there are no restriction for foreigners on buying properties in Spain, whether it is residential, commercial or land. You just need a fiscal number that you can get in few days if you are EU resident or in few weeks if you are no EU resident. Spain is currently offering a “Golden Visa” program if you invest more than 500.000 € in Spanish property, so if you buy one or more properties you will be automatically eligible for a residency visa that allows you to live in the country. The main goal of that is to attract retired people and holiday homes buyers. When you buy a property in Spain you need to take in consideration the fees and charges, those fees usually go between 6 to 13% of the property value. They include the Property Transfer Tax that vary from 5 to 10% for existing properties depending on the region, or 10% VAT for new properties in all the country. Notary costs for Title Deed Tax and Land Registration Fee vary from 1 to 3%.
Beahost.net has a lot of experience with overseas buyers and we can give you advices in multiple languages. We offer a great portfolio of properties in all Spain and we support you in every step of the investment. We do not charge any commission to the buyer and you are totally free to choose the notary or the bank for an eventual mortgage. However, we can advise you trusted notary firms and help you with the bureaucracy.
As Beahost.net is a Property Management Company we can also offer you a short let term renting management service. We take care of your accommodation from publishing on multiple platforms finding suitable customers to organising check-in and cleanliness for you. The benefit for you is massive as you will enjoy your holiday home whenever you want and you will make profits from renting out your space.
Contact us at firstname.lastname@example.org for more information and to schedule a free visit with no commitment.