Given recent reports of the property price slide halting and pockets of Spain starting to get back on its property-feet, it might be timely to think of a few basics
Buying Spanish Holiday Home –Where to look for help
If you want access to the whole market then it is worthwhile using a reputable agent, who will have access to new build, resale and bank repossession stock. Another confidence-giver, is if that agent is a member of the professional body, the Association of International Property Professionals (AIPP), that shows they have been vetted and abide by a professional code of conduct.
Home in Spain but where to buy?…
If you are looking for year-round living, but still want a coastal situation and plenty of activities on your doorstep, then it might be worth looking at the popular coastal cities like Barcelona, or Valencia, or Alicante, all of which are great cities in their own right, but which also have their own beaches too. Traditional spots have been the Costa del Sol and Costa Blanca for British buyers abroad and these are still popular. Given prices have now fallen by as much as 30-40% in some places and are not likely to fall much more, now is a great time to be considering your holiday home investment plans.
Overseas Property Investment- 3 key things?
First-time overseas buyers should be aware that the buying process abroad is different. In Europe, many countries have a Notarised process, where contract-signing takes place before a Notary (a special, Government-licensed lawyer). In the UK, contract exchange and completion can occur without the buyer having to be present.
Buying costs, related to the purchasing process can also differ significantly from buying in the UK. Whilst stamp duty tends to be higher in the UK, the overall conveyancing costs are likely to be cheaper. In the UK, property buying costs may represent up to 7% of the value of the property bought, (including 3% stamp duty) this could be between 5-15% abroad, dependent on the country and home being purchased.
An off-plan property purchase is where you are buying the ‘right to buy a property’ once it is built. This is a different type of contract to one where a property has already been built, where a tangible building exists. It tends to be higher risk, but can often be advantageous in terms of being offered a keener price. There is less off-plan available in Spain at the moment given there is a lot of ready-built stock, but there are now reputable developers, particularly in areas like Javea, Altea and South of Alicante who are starting to build ultra-modern properties now, as demand is picking up.
Take a look at what is on offer across the board, from Spanish cities to Costas and across the price range.
Please get in contact to chat your plans through by telephone +44 (0) 1932 849 536 or email info@property-venture.com
Property Venture® is an award-winning, UK-based agency for overseas property who helps people buy investment property and holiday homes in Europe, more easily and safely than they can on their own, because we offer grounded common-sense advice.
The focus is mainly greater Europe: Poland property, UK investments, Spain property, Turkey property, Cyprus property
On the Advisory Board and a Member of the Association of International Property Professionals (AIPP) the business has been vetted, approved and voluntarily commits to Industry Regulation and the Professional Code of Conduct. We are known for our quality customer service and non-pressurised approach to sales. Take a look at what our clients say
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Tags: AIPP, Bank Repossessions, City property, Coastal Property, First Time Overseas Buyer, holiday home, new build, off-plan, Overseas Buying process, overseas property agent