How easy is it to buy a house in Spain?
The rules for buying a property in Spain as an expat are relatively straightforward. Before buying, you’ll require a financial number, which can be obtained by visiting a police station with your passport. This is typically processed on the same day for Spanish or EU citizens, but may take a few weeks for others.
How long does it take to buy a house in Spain?
In general, timescales are as follows: 3 to 4 weeks: for straightforward purchases, i.e. properties with no debts, all paperwork in order and financing already in place. 4 to 8 weeks: for slightly more complex purchases where, for example, an architect’s certificate is required or the buyer needs to obtain a mortgage.
Is it difficult to buy property in Spain?
There are no restrictions on buying property in Spain, whether it’s commercial, residential or land. In fact, Spain encourages investment by foreigners, both resident and non-resident.
What are the pitfalls of buying property in Spain?
Some of the common pitfalls of buying a property in Spain include deposit, purchase tax, issues with off-plan properties and properties being built illegally.
Can you retire in Spain after Brexit?
The answer is simple: yes. It is still possible to retire to Spain after Brexit, even though the path has now changed (things are not that simple now that Brits are subject to the same immigration rules as non-EU citizens). … And that, of course, applies to those wishing to retire in the country too.
Can I just move to Spain from UK?
As of 2021, the UK is no longer a member of the European Union! … This allowed British citizens to move to Spain without visa restrictions or maximum stay periods. However, under post-Brexit rules, the rules for British citizens who want to live in Spain are much very similar as they are for non-European people.
Can I still buy property in Spain after Brexit?
Whether you are an EU citizen or not, you still have the right to buy property in Spain after Brexit. The costs of buying a property remain the same whatever your nationality and, broadly speaking, include purchase tax, a Notary’s fee, a property registry fee and your lawyer’s fees amongst other miscellaneous expenses.
Do you pay council tax in Spain?
IBI is a local charge in Spain that is similar to council tax in the UK. … Depending upon where in Spain your property is located you can expect to pay this expense either once or twice per year. IBI is based upon the rateable value of your property and is paid to the local town hall.
Are house prices in Spain falling?
Spanish property price forecast for 2021
According to opinion given by the credit rating agency Fitch, the price of housing in Spain will fall by 4-6% over the next year, before stabilising in 2022.
How long can I stay in Spain if I own a property?
You will be allowed to spend up to 90 days in Spain, and then you must leave the country. You will not be able to return until 180 days have passed since your date of entry into Spain (or Schengen). However, you can divide the 90-day period into two (45 days each) and spend each of them in Spain during the 180 days.
How much deposit do I need to buy a house in Spain?
Banks in Spain generally finance 80% of the value of the property you wish to purchase (if the property will be used as your main residence), meaning that you need to have 20% of the property value in order to pay a deposit.
How long can you live in Spain without residency?
The 90-day rule
This rule simply states that you can live in Spain without residency for a maximum of 90 days. After those 3 months, you need to either obtain a residence permit, or leave the country. And that is because the shortest stay option is the tourist (or Schengen) visa, which lasts exactly for 90 days.
Is it good to buy a house in Spain?
According to recent research, Spain came out as second of 33 countries as best for first-time buyers. The reasons given were a combination of reasonable property prices combined with a favourable cost of living as well as good average salary growth levels – all good reasons for buying in Spain.
Are flats in Spain Freehold?
The concepts of freehold and leasehold land do not exist in Spain per se. If you buy a property then you own it outright. If you buy a house then you own the land that the house sits upon. If you buy an apartment then you own the walls, the ceiling and the floor, as well as the balconies.