Spanish Property Still Streets Ahead

At a time when UK summers are a bit hit-and-miss and the rain just never seems to stop, it’s easy to contemplate moving country if only to get that bit of golden sunshine that makes every day a lot nicer.

Spain has been a favourite destination for quite some time now, so it stands to reason that many people would query if Spanish property still maintains the great value investment it once was, or if it has diminished somewhat.

Naturally, there are advantages and disadvantages to everything and purchasing Spanish property is no exception. Whereas the advantages are fairly obvious: beautiful sandy beaches, sunshine virtually every day, lower property purchase prices, competitive financing options and a slower-paced way of life.

Some of the disadvantages are less obvious. The fact that most people you will deal with only speak Spanish, that there is an abundance of unethical Spanish property real estate agents to beware of. These are just a few of the obstacles someone looking to purchase Spanish property can come up against.
 
By using a registered Spanish property agent or property finding service, this can often save you money as they are not as expensive to use as many people think. A good agent or member of a property finding service, who has your best interests at heart and listens to what you really want will recommend you spend time in Spain checking out the Spanish property market yourself to personally discover what is available.

One aspect that does stand out, however, is the vast selection of options available to you with regards to purchasing a Spanish property.  Apart from the myriad of unfinished Spanish property developments that allow you to purchase off-plan, there are villas, apartments, houses by the sea and inland. For the older generation who don’t wish to be “alone” in a foreign country, there are also excellent retirement villages, set up specifically with them in mind! 

If you are planning to become a resident, then the advantages that are extended to resident owners of a Spanish property include lower capital gains tax (only 15%), exemption of the wealth tax (0.2%-2.5% of the property), and mortgages being granted with relative ease.

Should you propose to purchase a Spanish property for investment purposes then one of the coastal resorts favoured by holidaymakers such as Benalmadena, Marbella or Fuengirola will ensure that your Spanish property is rarely left unoccupied. However, bear in mind that as a non-residential Spanish property owner, amongst other things you will be subject to higher taxation and will have additional costs such as hiring an agent to be responsible for it.

Ultimately the decision to relocate and purchase a Spanish property as your home is one that is affected by a number of factors. However, since valid questions by Spanish property real estate agents still include whether you want to see the sun set from where you live, and whether you want your Spanish property to look out onto the sea, buying property in Spain still remains streets ahead of its UK competitors, which are simply left standing in the rain.

For more information about the property for sale in Spain please complete our property criteria report.