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Real Estate in Spain
Why is it profitable to buy <br><span>real estate in Spain?</span>
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Property for sale in Spain

Property in Spain: Finding your dream home

Modern people, no matter how comfortable they live, always strive for something better. Fortunately, most residents of developed countries have every opportunity to move freely around the world. Many seek to settle in Spain, a country with a high standard of living, beautiful nature, salubrious climate and reasonable prices. Therefore, property for sale in Spain is actively sold today. There are a wide variety of properties on the market here, satisfying the needs of the most demanding customers, and the demand for which is constantly growing.

Where is it preferable to buy property in Spain?

In any region of the country you can find an attractive property that will become your favorite place for work, leisure and permanent residence. But Spain differs from other countries in that, along with a developed infrastructure of cities and towns, it can offer the unique qualities of Mediterranean resorts with their beautiful beaches, gorgeous natural parks and mountain landscapes.

The coasts of the Costa Blanca and Costa Calida are in particular demand not only among the natives, but also foreigners, and often those who want to buy property in Spain first of all consider the regions of Alicante and Murcia, where all the benefits of seaside resort towns, quality housing and property prices are perfectly combined. The regions include both fairly large cities and small towns, and each town is unique and attractive in its own way.

Alicante

The capital of the province of the same name is very popular among the inhabitants of Scandinavia and Britain. Here you will find everything you were looking for - a warm mild climate, beautiful scenery, delicious food, as well as property in Spain, which is relatively inexpensive, given that Alicante is a large port city. In Alicante, Spain, you will find all possible types of real estate presented on the market of the country.

Torrevieja

The pearl of the Costa Blanca, a resort town in which housing construction is developed and modern residential complexes with a full range of services are at the service of customers. Here everyone will find housing to their taste and financial possibilities.

Benidorm

A wonderful resort that combines all the virtues of Spanish nature, the wealth of green spaces with the grandeur of residential skyscrapers. Many people who want to buy properties in Spain tend to come here, because here you can find both noisy entertainment and solitude.

Villamartin

If you cannot imagine yourself without playing golf, then Villamartin real estate is what you need. Weather, nature, developed infrastructure and numerous golf courses will make your stay on the Costa Blanca unforgettable. And comfortable bungalows and villas are located next to the fields.

Denia

A unique place that combines a magnificent combination of sea and mountains. Therefore, lovers of such landscapes should consider purchasing Spanish property here.

Murcia

A large resort town on the Costa Calida has long been loved by many for its clean air, special comfort, many historical and cultural masterpieces in local museums, and excellent cuisine with a large number of seafood dishes. All types of real estate are presented here, from inexpensive apartments in the old fund to luxurious penthouses and villas.

La Manga

An amazing place where a long sandy spit is combined with coniferous plantations and a sea lagoon. This combination creates the effect of life-giving air, which you breathe and breathe and it is never enough. Here you can find any property, including especially popular duplexes. They combine the advantages of a private house and quite reasonable prices.

Los Alcazares

A small village in the province of Murcia where you will find everything you could dream of: beautiful beaches, shady parks, many shops and cafes. Being the owner of a home in such a wonderful place is simply great!

Properties for sale in Spain: types and prices

Having decided on the place where you will live, you should approach the choice of the type of housing responsibly. Property in Spain is represented by a wide range of various properties for every taste and budget. Small studio apartments for a modest price will be of interest to singles or young couples who prefer to spend time away from home. And luxury homes will be chosen by those for whom home comfort and a high level of service are important.

Types:

Today in the Spanish property market are the following options:

  • apartments - residential premises located, as a rule, in apartment buildings with a different set of amenities. You can choose the number of bedrooms and bathrooms you need, as well as floor, furniture, kitchen equipment;
  • the penthouse is located on the upper floors of a high-rise residential building. Penthouses belong to elite housing and can be decorated with expensive materials, equipped with advanced communication systems and expensive appliances. In modern properties, there is even a pool;
  • a townhouse is a block in a complex of similar buildings, where you will have one common wall with your neighbors. It differs in more spacious rooms than in apartments; in two-level townhouses, bathrooms are required at each level. There may be a small plot of land next to the building. For the whole complex, a common pool, playgrounds, and green spaces are often built. Recently, this type of property for sale in Spain is especially popular;
  • bungalows - property in Spain is widely represented by this type of property that is in high demand. This is a separate house for one family, where spacious rooms and bathrooms, a large terrace and a kitchen with access to the patio are often hidden behind a modest exterior facade;
  • villa is a large house in Spain located on its own land. Such real estate is in high demand among those who want to lead a secluded lifestyle with all possible amenities. Most of the villas are located in such a way that their balconies and terraces offer beautiful panoramic views of the sea, mountains and resort towns.

Prices:

Approximate prices for apartments in the cities of Spain are as follows:

  Barcelona Valencia Murcia Granada Santander Bilbao San Sebastian
One-bedroom apartment € 170,000 € 170,000 € 90,000 € 90,000 € 90,000 € 180,000 € 110,000
Two-bedroom apartment € 250,000 € 220,000 € 115,000 € 130,000 € 155,000 € 250,000 € 175,000

 Below is the average cost of one square meter of housing in the center of some cities in Spain:

City Price/1 sq.m
Madrid € 4929
Bilbao € 4678
Barcelona € 4519
Valencia € 2784
Alicante € 2560

If you have the freedom to select a region to reside in, you'll find that housing costs in Spain are typically much more affordable compared to other European nations. However, it's important to note that there is a substantial disparity in real estate prices between major cities, coastal areas, and smaller towns in the country's interior. To assist you in navigating this wealth of information and facilitating your purchase, you can rely on the expertise of the professional real estate agency, WTG Spain. Their team is dedicated to guiding you through the process and ensuring a successful transaction.

Buying a house in Spain - legal aspects

Property for sale in Spain is sold in accordance with the laws of the country, which encourages the purchase of housing by both natives and foreigners and contributes to the development of the real estate market.

The process of buying property in Spain consists of several stages:

  • the choice of a suitable property is a crucial stage and it would be extremely reckless to limit the search only to Internet resources. It is advisable, after a thorough study of the relevant sites, to search for suitable property in Spain directly on the spot, while it is worth contacting professional real estate agents who offer a full range of services to support the purchase;
  • you, as a foreigner, need to obtain an identification number (Número de Identificación de Extranjero, NIE) as with its help you will be able to carry out any financial transactions in Spain;
  • it is impossible to buy property in Spain without having an account in a Spanish bank, from which all sorts of payments will be made;
  • an important next step is the signing of a preliminary contract for booking your chosen property. Such an agreement specifies the value of the property, its condition, terms of payment, the amount of the deposit, and the conditions for terminating the transaction. Once the deposit has been paid, the apartment or house is considered booked by you;
  • buying a house in Spain must be accompanied by a thorough check of the legal purity of the property: the absence of debt obligations, identification of the owner. The signing of the final contract of sale takes place in the presence of a notary after full payment of the cost;
  • properties for sale in Spain are considered sold after the transfer of ownership is formalized.

The buyer of Spain property must clearly navigate the local taxation system in order to pay tax or fee when buying properties in Spain on time and in full. An experienced lawyer with knowledge of your native language can help in this matter.

Issues of financing the purchase of property in Spain

You can buy a house in Spain or an apartment you like, first of all, for your own money. If necessary, you can be granted a mortgage loan in a Spanish bank. At the same time, if you are a resident, then up to 80% of the value of the property can be repaid through a mortgage, and you can repay the loan within 40 years, for a non-resident this amount will be up to 50-70% of the cost and the repayment period is 15-20 years. The types and amounts of interest rates for residents and non-residents also differ.

Do not forget that when you buy a property in Spain, you are required to pay for utilities and other bills, such as cleaning the territory, garbage collection, cleaning the pool, etc.

WTG Spain: we are always ready to help you!

You can independently go from finding the best house for sale in Spain to settling in the purchased apartments. But why not take advantage of an excellent option when professionals can support you throughout all stages of real estate acquisition? Then all possible risks will be reduced to zero, the purchase time will be reduced significantly and there will be no place for your anxieties and worries.

The WTG Spain group of companies is not just a real estate agency, it is a community of like-minded people: managers, designers, IT specialists, whose goal is to provide comprehensive assistance to those who wish to buy property in Spain.

WTG Spain has been operating in the local real estate market for over 25 years and over these years, thousands of grateful clients have become owners of Spanish property for sale. Beautiful apartments, townhouses, bungalows and villas on the Costa Blanca and Costa Calida have provided coziness and comfort to citizens of many countries of the world and native Spaniards who prefer living by the sea.

An extensive database that includes more than 10,000 properties, a wide range of services for buying, selling and maintaining real estate, most of which are paid by the seller, an individual approach to each client with the assistance of a personal manager, a modern convenient portal wtgspain.com, which allows you to easily navigate the offers and services provided by the company - these are the reasons why  you should not look for other assistants. WTG Spain is always at your service! We make it easy to find and buy your dream home!

FAQ

How long can you stay in Spain if you own a property?

Having purchased property in Spain, you can stay in the country without obtaining a visa for 90 days within a 180-day period. If you invest in real estate an amount equal to € 500,000 or more, you will have the opportunity to stay in the country for one year, with the right to extend this period. These rules apply to citizens of countries that are not members of the European Union.
 

How to buy property in Spain?

To buy property in Spain you need to take a number of steps:

  • choose a suitable property;
  • obtain a Foreigner Identification Number (NIE);
  • open an account in a Spanish bank;
  • if necessary, apply for a mortgage loan;
  • pay the deposit amount and make a reservation of the selected property;
  • pay the full price of the property and sign the purchase and sale agreement;
  • obtain ownership.

Where to buy property in Spain?

Here are some popular regions for buying real estate:

  • Costa Blanca and Costa Calida: This region on the east coast of Spain is also famous for its resorts and beaches. The cities of Alicante, Benidorm, Torrevieja, Cartagena and La Manga are in demand.
  • Costa del Sol: This region on Spain's Mediterranean coast is known for its beaches, sun and rich infrastructure. Popular destinations include Marbella, Malaga, and Torremolinos.
  • Ibiza and Mallorca: These islands in the Mediterranean are known for their nightlife, beautiful beaches and picturesque landscapes. Here you can find a variety of real estate options.
  • Barcelona and Madrid: These two largest cities in Spain offer a variety of real estate investment opportunities, including apartments and commercial properties.
  • Andalusia: This region includes cities such as Seville, Granada and Malaga. Here you can find authentic Spanish houses and villas.

Where is the cheapest coastal property in Spain?

Here are some regions where you can find more affordable property prices on the Spanish coast:

  • Murcia: The Murcia region is also known for its affordable property prices and beautiful beaches.
  • Costa de Almeria: This region on Spain's Mediterranean coast offers more affordable prices than some other resorts.
  • Costa de la Luz: This region on Spain's Atlantic coast, including the province of Cadiz, may offer more affordable options.
  • Costa del Azahar: This region on the Mediterranean coast of northern Spain is also famous for its lower property prices.
  • Hinterland: Also consider inland areas and small towns that are close to the coast, as property prices there may be more affordable than on the coast itself.

What are the pitfalls when buying property in Spain?

When purchasing real estate in Spain, you should carefully evaluate the legal side of the property on the secondary market, avoiding unexpected debts and disputes. Usually there are no such problems with the primary market. It is also important to consider additional costs, such as taxes and commissions, which can increase the final cost of the transaction. On average - 10-12% of the cost of the property.

How much is a house in Spain?

The price range for houses by the sea is from € 185,000 to € 370,000. The cost of housing in Spain by the sea has a range of prices, starting from € 130,000 on the secondary market and from € 172,000 on the primary market. Apartments with sea views can start from € 190,000.

It is worth noting that in 2022, according to information provided by the National Statistical Institute, the cost per square meter increased by 7.4%, reaching its highest level since its peak in 2007, when there was a boom in the real estate market. In 2022, the average price per square meter of residential property in Spain reached € 1922. Also in 2022, the average cost of a Spanish house was € 438,000.

What documents do I need to purchase to buy a property in Spain?

To purchase real estate in Spain, you must have a valid passport, a foreigner identification number (NIE), and a certificate of opening a Spanish bank account for financial transactions.

How long can I stay in Spain if I own a property?

Unless you have invested € 500,000 or more in Spanish property, you can stay in the country without a visa for 90 days within a period of 180 days. If you are a real estate investor, you can stay for one year with the right to extend.

How much is property tax in Spain?

Property tax in Spain is municipal and amounts to 0.4-1.1% of the cadastral value of the property. The specific amount of tax depends on the location of the property being purchased.

When to buy property in Spain?

The Spanish real estate market is considered quite stable and prices have not increased significantly for a long time. Therefore, you can buy real estate at any time that works best for you.

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