avoiding common property investment mistakes in spain
TRANSCRIPT
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.”
2
Imag
e so
urce
eur
opea
npro
perty
.com
Source: www.expatfocus.com
The main reason
3
“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.”
Imag
e so
urce
med
iter.c
om
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
Imag
e so
urce
lin
kedi
n.co
m
Source: www.expatfocus.com
Spain's top of their buying list
5
“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.”
Imag
e so
urce
for
eclo
sure
-spa
in.c
om
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
Imag
e so
urce
hot
frog.
com
.au
Source: www.expatfocus.com
Expats should always use professionals who are objective
7
Imag
e so
urce
cha
rterc
onve
yanc
ing.
com
.au“Expats should always
use professionals who are objective and working on a fee basis for investigations and advice, for instance surveyors and lawyers.”
Source: www.expatfocus.com
Defining a property in Spain
8
“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.”
Imag
e so
urce
con
veya
ncin
g-cm
s.co.
uk
Source: www.expatfocus.com
Interest building in the Spanish property scene
9
“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.”
Imag
e so
urce
Sco
opne
st.c
om
Source: www.expatfocus.com
Take it slow
10
“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.”
Imag
e so
urce
quo
tesg
ram
.com
Source: www.expatfocus.com
Benefits for non-EU expats moving to the country
11
“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.”
Imag
e so
urce
www
.righ
tmov
e.co
.uk
ThankYou