Purchasing property in Spain is much easier than you might anticipate in comparison to making a property purchase in the United Kingdom. When you make a property purchase in the UK, you often encounter a lengthy process that includes a series of deed signings that can take several months to complete prior to being allowed to begin residing at your purchased property.
Spanish properties are often listed when the occupants have vacated the premises, or empty because it was used as a second home. This facilitates a rapid property sale. Although document signing is involved, and one requires a bank account native to their new Spanish locale, plus the need to apply for a permit of residency, a real estate agent or gestor can assist you with this process. This is possible even if you are physically located in the UK and are not able to travel to Spain to conduct this business yourself.
It's become much easier to purchase Spanish property in recent years due to the 2013 approval by the Spanish government of a long anticipated residency law (the Golden Visa), which permits investors that are non-EU residents to purchase Spanish property as well as attain a permit of residency that permits an unlimited stay in Spain. Additionally, the Golden Visa provides for an automatic residency to EU nationals.
Holiday rental properties offer an excellent potential for earning extra income in Spain. If you intend to only use a property only for holidays, it's a smart investment to earn extra money by renting your Javea property when you are not using the residence. Keep in mind that it will be necessary to register your property with the town hall, as well as to pay applicable taxes on the income you generate.
It's savvy to consider delegating responsibility for the property to an individual or real estate agency, which is able to meet your holiday renters and give them their keys to the rental, clean the property, and be responsible should any issues be encountered during the rental period. Though you may have to invest a small amount to employ an agency or individual to perform these tasks for you, you can still earn a decent return as a well-located quality property can earn excellent rates during the high season due to the popularity of Javea.
The best Spanish property investment options depend on your circumstances. If your plans are to retire to Spain, your choices are entirely different than if you are still of working age and you need to continue to earn a steady income. Working aged individuals who choose to take remote online employment, have the option to reside in virtually any location, and for these people Javea is ideal.
Barcelona and Valencia are excellent places to seek employment if you are of foreign origin. However, in smaller towns, employment opportunities are often limited to working in a bar or hotel, and may only provide you with seasonal employment. Investment areas, such as the Costa Blanca and Costa del Sol are popular investment locations due to its bustling tourist industry. If you are of working age, it is important to make sure you have a means of making a living lined up, wherever you choose to buy in Spain.
Even if you've heard stories that evoke dread about Spanish property dealings that have gone horribly awry on the part of the buyer, remember that thousands of property sale transactions in Spain go perfectly smoothly for foreign property buyers on a yearly basis. As long as a reputable real estate agent is employed and qualified legal counsel is put in place to carefully review your real estate deal, there is no reason why any problems should arise.
Overall, 2015 is an excellent year to purchase investment property in Spain. Subsequent to the property market crash in Spain in 2009, investors were rightly wary, since property prices significantly plummeted. The market remained static, and those who aspired to make some quick and easy cash had difficulty selling their investment property or properties. Luckily, the market is now picking up at a steady rate, and buyers and investors are once again turning their attention to property in Spain, including some very high profile and savvy investors; namely Bill Gates and Greek tycoon George Soros. Since many prices of properties are still quite low, it's an excellent time to purchase low and make a profit by selling at a higher rate for an excellent return in a few years.
It's important to research the area where you are considering purchasing property. A primary reason reported by expats who end up going back to the United Kingdom is due to accessibility in their chosen area of residence in Spain. Although rural Spanish areas may seem idealistic and peaceful, in the winter circumstances can change. Conditions such as heavy rainfall can also be an issue if you buy a property that can only be accessed via a dirt track.
You also must consider situations such as your chosen Spanish property may be hundreds of miles from the nearest airport. Or perhaps there is an airport, but there are no cheap transfers to your town. This can make it expensive to visit and receive relatives and friends who live in the UK. Fortunately, Javea is within easy reach of Alicante Airport, and the further Valencia Airport is also an option. Transfers from Alicante are frequent and affordable. You should carefully deliberate on the consideration of accessibility when you make a real estate choice in Spain.
Another commonly cited reason why people tend to go back to the United Kingdom is due to financial problems that stem from not making adequate plans with regard to money. Spain has high unemployment rates, and when making choices about suitable employment to support yourself and your family, if you have one, you may be faced with financial challenges you didn't anticipate. Plan very carefully about how you will make your financial situation stable before relocating to Spain.
When dealing with the staff at Javea Property we found them to be extremely helpful and also very knowledgeable in matters concering the Spanish property market. The bilingual staff were able to make the process of buying our Read More
We thought buying our holiday home in Spain would be complicated and require lots of paperwork, but overall this was a very straight forward process and the staff were also very helpful and friendly. I was always kept up to date Read More
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