Buying Property in Spain - The Process

Published on Monday, November 01st, 2004
Property Abroad » Property in Spain

Summary: If you are interested in buying property abroad, what can you expect from Spanish Property?

Spanish PropertyIf you are interested in buying property abroad, what can you expect from Spanish Property?

Spanish Property and Real Estate in Spain - a general guide.

Foreign domiciled individuals are free to own property in Spain.  And Spain offers some stunning properties for sale!  Furthermore, Spanish property agents are well regulated and if you employ the services of a respected and well qualified lawyer to oversee the whole process for you, your full legal rights will be taken care of.

If you consider movements in the Spanish property market over the past 20 years, it is clear that Spanish real estate has been one of the best investment opportunities over all.  The returns have been high and the market relatively stable.

In the current economic climate Spain is expecting a slow down in its real estate market, but not a bubble burst.  Long term trends show that a slow down is likely to be nothing more than a real estate valuation readjustment.

If you are considering purchasing in Spain, if you buy the right Spanish property in the right location, you’ve got little chance of going wrong in the long term.

The choice of property type and the location will of course depend on whether you’re buying as an investment or whether you intend to make the house your home in Spain.

What’s on offer?

From a 1 bedroom rural Finca in the heart of the Spanish mainland to a penthouse in a vibrant city or a villa with pool on the beach - whatever your budgetary and lifestyle requirements, Spain will have real estate to thrill and satisfy you.

As there is no shortage of real estate agents in Spain to assist you in your search for the perfect Spanish property, it is worthwhile spending some time searching out a good company who will take care of your requirements.

Before you buy in Spain you should carefully examine the different areas in Spain and then consider visiting your favourite areas before making a final decision on where you want to buy.

As purchasing property abroad is a big undertaking, a lot of people consider renting in the area they are interested in first.

Here’s a very simple guide to buying a Spanish property: -

  • Set a budget and stick to it!
  • Visit your preferred Spanish property at least twice before you make a final decision.
  • Check the property’s amenities and make sure it has electricity, water, gas, decent waste drainage etc.
  • Consider having a builder or surveyor examine the physical structure of the building.
  • Meet up with local people in the are and your prospective neighbours and ask all about the area and the property.
  • If you can’t make up your mind about your Spanish property then take some photos home with you and mull over the decision.
  • Have a solicitor check ownership of the property before you sign ANYTHING!
  • And have a solicitor check for outstanding debts on the property before you sign ANYTHING!

If you are after finding your dream property abroad and are certain that a Spanish property is what you’re after, then if you stick to these basic guidelines you shouldn’t go far wrong.

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