 SPANISH PROPERTY
Spain is an ideal destination for the prospective property seeker. Spain's interesting culture, dynamic way of life, excellent climate and favorable economic and political conditions have drawn thousands of people, from retired householders to Hollywood stars, to it's sunny shores. The property market in Spain is just coming off of a huge real estate boom, which puts buyers in a more even position with sellers now that demand has begun to slow down.
The cool-down of the Spanish property market is good news for people interested in buying a home, although it makes Spain a bit less attractive to investors with a mind to buy and sell within a short period, making quick and easy returns.
Recent legislation also favors prospective foreign home-buyers, such as the reduction in capital gains tax from 35% to 18% - the normal rate for Spanish citizens.
One idiosyncrasy of the Spanish property sector is a drawn out bureaucratic process. It can put somewhat of a burden on the normally exciting buying experience, but it by no means outweighs the benefit of the end result.
A good idea is to seek some kind of advice, be it personal, from friends or acquaintances who might have gone through a similar experience; or professional, from a free
Spanish property portal or a certified estate agent.
It's also easy to search online for properties throughout Spain on sites where you only pay if you end up buying a listed home. Some of these sites also offer personalized advice and free services for prospective buyers, such as informative guides and useful articles.
An option definitely worth considering when searching for a home is
off-plan Spanish property in Spain. This involves paying a certain percentage (usually around 10%) of the eventual price of a home before its construction is finalized.
If done with a reputable company, this alternative offers the benefit of saving a considerable amount of money and still getting a new house in an area you like. Websites like the ones listed above can also help filter out the good from the bad when it comes to developers running off-plan projects. It's not a bad idea to get some professional help, at the very least from companies that can gather background information and offer educated advice for very reasonable fees.
Another thing to keep in mind about the real estate scene in Spain if you're considering getting help from an estate agency is that it's not very difficult to become an estate agent here; it doesn't require much knowledge of the sector. This means that there are a few individuals out there trying to make some money on the side and, perhaps even unbeknownst to them, not offering bad service.
This is balanced by the fact that there are plenty of professional and reputable agencies that offer great services at affordable prices - something you'd expect from a country that's hosted a real estate boom for the last ten years! Many times these agencies or web-based services are the way to go in the face of time limitations and the inability to move between your home country and Spain at will.
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