Attractive prices, easy credit, willingness to invest capital, retired apartment, beautiful weather and beautiful beaches – these are the main reasons why Poles invest in real estate in Spain.
With this article, we are opening a new section on the subject of “Step by step investment in real estate in Spain” – that is, on the subject you strongly favor in the messages you send to us.
Due to such great interest in this topic, we decided to approach it comprehensively. We hereby give you the first part of the guide on how to safely invest in real estate in Spain. However, you can expect that this topic will permanently appear in the pages of our e-magazine, creating a kind of guidebook buying a property in Spain.
In this article you have the chance to read why we recommends investing in real estate in Spain, what real estate Poles buy, how much they cost and what the purchase procedure looks like.
In the next article you will read about the costs of buying property in Spain, property prices, what additional costs should be taken into account and what should be done after the transaction is completed.
We wish you nice reading and we are very interested in your opinions. Please share them in the comments.
Many of us dream is to have our own sea view property. It is best to have a warm Mediterranean Sea. One of the most interesting places to buy real estate abroad is Spain.
The Costa Blanca Coast is very popular among Polish investors, the coast is varied, the coast is flat to the south of Alicante, and the mountainous north. Closed housing complexes were built on the hills, from which there are beautiful views of the Costa Blanca and the sea. The climate is exceptionally friendly and sunny, the sun has a world more than 320 days a year. The motorway network guarantees quick and easy travel around the Costa Blanca, as well as a quick journey to other regions of Spain – to Barcelona or Andalusia.
Why is Spain a good place to invest in seaside property?
Most often Polish clients buy real estate in Spain because of the above reasons. First of all, great weather, good food, friendly people. The second argument is attractive real estate prices, a large selection, ease of obtaining a mortgage. And the third is the ease of renting a purchased apartment or apartment, there is a very high demand for real estate for rent located in attractive locations.
What real estate do Poles buy?
Our clients mainly look for properties located relatively close to the beach, suitable for rent, in housing estates with swimming pools and gardens and sea views. The most popular type of apartment is an apartment with two bedrooms, a living room and a kitchenette. The apartments have terraces and roof terraces.
How much for real estate in Spain?
A small and cheap apartment by the sea can be bought today on the Costa Blanca or Costa del Sol for 60 thousand. euros, but remember that these are opportunities that appear and sell quickly, but apartments by the sea for about 100 thousand. Euro is quite a lot.
The new three-room apartments on the Costa Blanca, finished and located on the estate with a swimming pool, cost about 130 thousand. euro.
How to buy a property in Spain?
It is best to contact the real estate agency CALACOSTA to choose the right property in line with your expectations and financial possibilities. After preparing the appropriate list of real estate proposals – we organize a trip to Costa Blanca in order to familiarize with the offer and choose the best for our client. We help you find the right flight, hotel or apartment. Our employee picks our customers from the airport, takes them to the hotel and takes care of them in the next few days, showing the Costa Blanca, presenting real estate, providing all information and advice. This trip usually lasts 4 days, during which we also meet with a lawyer and tax advisor.
We assume that we have chosen one of the Spanish properties seen. What’s next?
We reserve real estate by paying an advance of usually around 6,000. euro. If necessary, we take care of formalities related to bank loans for the purchase of real estate in Spain, which is easier to obtain in Spain than in Poland. Our company helps to deal with all formalities related to this. A loan for the purchase of real estate in Spain can be obtained at 60-70 percent. property values. The loan interest rate is approx. 2.2 percent. per year.
We also obtain for our clients the Spanish number NIE – Foreigner Identification Number, we open an account in a Spanish bank from which the buyer makes payments for the purchased property.
At the same time, we examine the legal status of real estate and prepare all documents so that our client becomes the owner of his dream property on Costa Blanca as soon as possible.
How long does the procedure take and what documents are needed?
The formalities related to obtaining a loan last about a week. The buyer must submit a set of documents at the bank: certificate from the bank about having an account – bank opinion (translated into Spanish), translated PIT for the previous and current year, income statement, photocopy of passport.
What happens to the apartment after purchase?
You can, of course, rent and earn such Spanish property. CALACOSTA HOME IN SPAIN also deals in the rental of real estate. If the customer signs a contract with us to manage the rental of the property, he does not have to worry about finding tenants on his own. We deal with real estate marketing, rental and service.
What are the costs of maintaining a property in Spain?
The annual cost of maintaining property in Spain is small, around 500 to 1,000 euros per apartment per year, plus around 200 euros for property tax. They are generally equal to or lower than the cost of maintaining real estate in Poland.