Sunny Spain is a wonderful place for a vacation in your own home
Almost from all sides this peninsula is surrounded by the sea, but the warm climate of the country is influenced not so much by the ocean as by the mountains that protect Spain from external negative influences. In this high-altitude country, where 90% of the territory is occupied by mountains, the so-called vertical climate zonation is felt as nowhere else, thanks to which high in the mountains, wrapped in a warm blanket, you can easily see people swimming in the warm sea waters below.
Thanks to the subtropical climate, summers here are hot and dry, and winters are mild. If we add to all of the above the unique geographical location of Spain, it becomes clear why this country attracts tourists who, having once visited Spain, want to buy real estate here. Moreover, the purchase of real estate in Spain automatically allows you to obtain a European multiple-entry visa for a year, for which you only need to provide an extract from the real estate register and a purchase agreement.
It should be noted that regarding migration issues, Spanish legislation is the softest in the European Union. The popularity of this country is largely explained by the very high standard of living as well as affordable prices for residential real estate. There is also the important fact that for our citizens, a simplified form of obtaining a residence permit is provided in Spain. If you want to buy real estate on credit, banks will gladly pay 75% of the purchase price, and the annual rates will also please you – only 3-4% per annum.
As real estate agency experts note, the choice of properties in Spain is quite extensive. Small cozy houses, luxury villas, townhouses, spacious apartments and, of course, apartments with beautiful panoramic views are popular. There is also steady demand for commercial real estate: small hotels, restaurants and cafes.
The cost per square meter of Spanish real estate varies depending on the location and condition of the property and proximity to the sea. For example, you can buy a two-room apartment near the sea, but without an elevator and major renovation for 50,000 euros, or you can find a two-room apartment with all amenities in the same area for 1,000,000 euros. Developers of modern residential complexes offer their properties 30% cheaper than, for example, in the past few years, trying to get out of the crisis with minimal losses, so now is the time for investors to invest their capital in Spanish real estate.
The procedure for drawing up a contract for the sale of real estate in Spain corresponds to the generally accepted norms of the European Union. To begin with, the buyer must open an account in any Spanish bank, after which the buyer and seller draw up a private reservation contract. The buyer pays a deposit equal to 15-25% of the property value. Maximum security for the participants of the real estate transaction is ensured by a notary, who is a Spanish civil servant and bears material responsibility for the transparency and legality of the transaction.
It should be noted that with the help of a notary, not only the procedure for concluding a purchase and sale agreement takes place, but also a comprehensive check of the property for legal purity. Costs for registration of the purchased property: 7% of the property value is property tax; 0.4-0.6% must be paid for notary services, 1% of the value – property register. In addition, mandatory state payments amount to 2-3% of the real estate value. To the above expenses, it is necessary to add the registration of a tax identification number (TIN) for a non-resident of the country, which will be required to register the purchase and sale agreement directly in the owner's register. The seller pays the commission to the real estate agency.
Whatever you say, Spain is one of the most vibrant, colorful, and distinctive countries of the Mediterranean. This amazing country is very hospitable to foreign citizens who wish to acquire real estate here, because it is in this country that a whole range of various opportunities has been developed and multiplied from year to year. Having made the right decision to buy real estate in Spain, you become the happy owner of a wonderful place for a family vacation.