avoiding common property investment mistakes in spain

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Avoiding Common Property Investment Mistakes In Spain

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Page 1: Avoiding Common Property Investment Mistakes In Spain

Avoiding Common Property Investment Mistakes In Spain

Page 2: Avoiding Common Property Investment Mistakes In Spain

Source: www.expatfocus.com

Relocating to Spain“For British expats in particular, Spain is a very popular country for buying a second home or to relocate, especially for expat retirees who are looking for a new life or a perfect holiday home.”

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Page 3: Avoiding Common Property Investment Mistakes In Spain

Source: www.expatfocus.com

The main reason

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“It's obvious why Spain is popular: with lots of sunshine and a friendly population, it also has nice family-friendly nightlife and good cultural attractions along with a sound infrastructure including good railways and roads.”

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Page 4: Avoiding Common Property Investment Mistakes In Spain

Source: www.expatfocus.com

Expat property investors in Spain“However, it's not all been good news for expat property investors in Spain. The country experienced a sharp drop in property prices during the financial crisis and then the tax rules changed for expats which made having property there expensive.“4

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Page 5: Avoiding Common Property Investment Mistakes In Spain

Source: www.expatfocus.com

Spain's top of their buying list

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“But now British buyers are back in force and Spain is top of their buying list. Property prices are also beginning to recover, though they are still much lower than they were before the financial crisis struck.”

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Page 6: Avoiding Common Property Investment Mistakes In Spain

Source: www.expatfocus.com

Advice for expats buying Spanish property“The next most important piece of advice for expats buying Spanish property is they must always use a conveyancing lawyer. It's also important to use a lawyer who speaks the expat’s language fluently so there's no misunderstanding and everything is translated efficiently.“6

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Page 7: Avoiding Common Property Investment Mistakes In Spain

Source: www.expatfocus.com

Expats should always use professionals who are objective

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use professionals who are objective and working on a fee basis for investigations and advice, for instance surveyors and lawyers.”

Page 8: Avoiding Common Property Investment Mistakes In Spain

Source: www.expatfocus.com

Defining a property in Spain

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“There are three distinctions to define a property in Spain which are Urbanizado, fully Urbanizado and Rural. All of them have special purposes and terms of use/restrictions.”

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Page 9: Avoiding Common Property Investment Mistakes In Spain

Source: www.expatfocus.com

Interest building in the Spanish property scene

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“With interest building in the Spanish property scene once again, expats should also be wary about buying off-plan properties and making large payments as a deposit to secure what appears to be a dream home.”

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Page 10: Avoiding Common Property Investment Mistakes In Spain

Source: www.expatfocus.com

Take it slow

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“When buying a property in Spain, expats should never be rushed into purchasing anything and they should never buy a home on impulse regardless of great the location of the property is. They should always assess the pros and cons first and learn more about the area.”

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Page 11: Avoiding Common Property Investment Mistakes In Spain

Source: www.expatfocus.com

Benefits for non-EU expats moving to the country

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“Spain encourages those who can afford to buy a property worth more than €500,000 with an automatic residency visa. Expats should be aware this is not a work permit but enables them to live in a country, so it's mainly aimed at holiday home buyers and retired people.”

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Page 12: Avoiding Common Property Investment Mistakes In Spain

ThankYou