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Features of the acquisition of residential property in Spain

Posted by mytennyuriy on 27.05.2014
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Особенности приобретения жилой недвижимости в Испании

Features of buying a home in Spain:
property and land are issued on a private person, preliminary contracts, availability of mortgage

Features of buying property in Spain

Acquisition of property abroad attracts many people. The most popular region considered for this purpose is Europe, and this is not surprising, because a developed economy, a high cultural level and a favorable climate are extremely important factors when choosing a place of permanent residence. However, the purchase of foreign real estate may have a number of features, which you need to know in advance, so that the process of purchasing housing does not cause any unforeseen problems. In this regard, Spain is one of the most liberal countries in relation to foreign investors.

Both real estate and land are issued to a private person

Unlike many countries of the European Union, where the purchase of real estate is possible only by a legal entity, in Spain any foreign citizen has the opportunity to purchase an apartment or a villa in his own name. There is no need to register a company to purchase the land on which the house is located. This applies to all of Spain, including the Balearic and Canary Islands. All that a Russian needs to complete a transaction is a passport and money.

Preliminary contracts

Favorite housing can be reserved by entering into a contract of intent. On it you need to pay only a portion of the cost of housing. If a potential buyer changes his mind to acquire real estate, which is the subject of the contract, the amount paid, which usually amounts to a few percent of the total price, is not returned to him. If the plans have changed with the seller, he undertakes to return the deposited funds in double amount. The conclusion of this type of contract also gives the future owner the opportunity to issue an investor visa.

The availability of mortgage lending

A foreign citizen can apply for a mortgage loan for the purchased housing. The condition is to make up to 50% of the value of the property as a down payment. This is quite a significant limitation, but the interest rate on mortgages in Spain, as a rule, does not exceed 4%, which makes investing in real estate in this country using this type of lending really beneficial.

Profitable and promising: real estate in Spain

The desire to purchase residential property abroad today is visited by many Russians. The most popular property in Spain, it is in high demand.

It should not be forgotten that the territory of Spain includes several islands that are included in the Canary Islands. Our agency MCM Real Estate helps to acquire property on the island of Tenerife – the largest of all the islands of the archipelago.

What is the priority of Spanish property

In Spain, a fairly high standard of living among the countries of the European Union. But Spain is also one big resort. By purchasing real estate here, you can live in the summer or rent a house, apartment, apartment for rent. Our company will help you to resolve this issue with the maximum benefit for you.

If you buy property in Spain in Tenerife, then you can relax at any time of the year. And in your absence, it will be very popular, because this island is famous for its beaches and the famous carnival, the second after the Brazilian. People come here from all over the world in February to become witnesses and participants of a grand celebration.

Features of the property market in Spain

Property prices in Spain are low compared to other resorts in Europe, and they are fully justified by the quality of the property offered for the purchase of housing. Buying real estate here, you not only provide yourself a free-season rest, but also get the opportunity for a profitable investment.

Residential real estate in Tenerife is absolutely consistent with the European level. Since the island is regularly visited by a huge number of tourists from all over the world, you can easily rent your property in Spain for the duration of your absence.

An important point – is obtaining a residence permit, if real estate in Spain was bought in the amount of 500 thousand euros. And it can be done gradually.

MCM Real Estate will select for you any real estate options:

  • villas and cottages;
  • townhouses and apartments, apartments and studios;
  • manors and bungalows.

When buying real estate, you simultaneously “acquire” a lifestyle corresponding to its location. In any case, it is a developed infrastructure and all sorts of benefits of civilization.

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