The question of how to buy luxury real estate in Spain is of great interest to everyone who wants to make a profitable investment, and, ideally, also make a profit from it. The choice of this particular part of Europe is due to the comfortable climate, stable economy and favorable geographic location, which offers access to the sea and ocean. What is the best thing to buy, how to do it, and what benefits you can get, let's try to figure it out in more detail.
Which regions to give preference to
To begin with, let's decide what kind of housing can be considered elite. Its main features are:
- area - from 100 square meters;
- ceiling height from three meters;
- the presence of a personal parking or underground parking in an apartment building, a garage in a private one;
- houses for several owners should have a separate hall, elevators, security.
- a beautiful view must be opened from the windows;
- the presence of heating in the house, powered by an autonomous boiler room.
- if we are talking about apartments, then a separate courtyard with children's and sports grounds, cafes, parking, etc.
The most demanded region today is Catalonia. And all because almost every investor considers it necessary to become the owner of a house on the seashore.
The championship rightfully belongs to the Costa Brava, which is famous for its incredibly beautiful landscapes, gentle entrance to the sea and quiet bays. Real estate here costs twice as much as anywhere else in the country.
This is also due to the fact that the construction of high-rise buildings is impossible here, and the land, which is a park zone of national importance, is under the protection of the state.
The Catalan capital, Barcelona, with its picturesque surroundings, is also in demand. If you want to feel like a metropolitan, then it is best to pay attention to Diagonal Mar or Pedralbes. But do not forget about the summer tourist collapse, which you will certainly have to face every year.
But these are far from the only points on the country's map that attract foreign investment:
- The Canary Islands are a great place to live here with the whole family. The most popular is the main city of the archipelago - Tenerife. Considering the fact that it is a VAT-reduced zone, the prices of living here are much lower, which cannot be said about real estate. Housing prices in the region start at 40 thousand euros.
- Balearic Islands. Celebrities are drawn to exotic seascapes and luxurious service. In addition, many wealthy people would not mind buying a house next to some Hollywood star. Housing prices here start at 300 thousand euros.
- Malaga. Due to the concentration of numerous attractions and the great interest of tourists, housing prices here start from 1,500 euros per 1 square meter.
- Marbella is a city of high life, exclusive apartments and high prices. The cheapest housing will cost from about 500 thousand euros.
- Alicante is another corner of Spain where you can feel comfortable in a cozy mansion. By the way, you can buy it in this region at a price of 150 thousand euros.
- Madrid is the concentration of the country's cultural, economic and political life. A city as active and diverse as Barcelona. When buying real estate, you need to keep in mind that the cost per square meter here starts from 5 thousand euros.
A study carried out last year showed that there are about 39 thousand apartments on the territory of the state, the cost of which exceeds 1 million euros. Moreover, 20,000 of them are located in Madrid, 15,000 - in Barcelona. The remaining 4 thousand were distributed between such cities as:
- Palma de Mallorca;
- Valencia;
- Marbella.
In addition, the top ten places where the most expensive apartments in Spain are located include:
- Ibiza;
- Seville;
- Santander;
- Alcobendas (Madrid);
- Calvia (Mallorca).
If you are interested in an object on the sea coast, you need to be prepared for the fact that the price for it will be several times higher than in the continental part of the country. The Costa del Sol, Costa Blanca and Costa Dorada are in particular demand among investors.
Choosing the type of housing
Practice shows that it is not the region where the object is located, but its type that causes the greatest difficulty for buyers. Few people can say with certainty what exactly he would like to own. It should be borne in mind that the classification of premises in Spain is more extensive than in the CIS. Judge for yourself:
- studio (studio) - the most inexpensive option for real estate. It is a one-room apartment with an area of about 20-40 square meters. It differs from an ordinary apartment in that a purely conditional partition in the form of a bar is installed between the bedroom and the kitchen;
- apartments (apartamento) are a very popular type of housing with an area of 5-120 square meters. It is classified by the number of bedrooms (in Russia it is counted by rooms). For this reason, if you buy a three-bedroom apartment, you will also have a living room, nursery, kitchen and bathroom. Similar apartments are for sale in high-rise buildings or apartment buildings. In the resort region, this option is ideal for renting;
- atico It is also called a penthouse. Such an apartment is located on the upper floors of high-rise buildings or on the roofs of skyscrapers. Belongs to the elite category of real estate, has a large area, a gorgeous panoramic view. Many atiko are spread over two floors and also have their own pool and terrace;
- bungalow (bungalo) - a detached house, designed for several families. Each of them has its own entrance and plot of land. The living area of such a house can be up to 140 square meters;
- Townhouses are also separate houses, but with one or two common walls with neighbors. The usable area is 80-150 square meters;
- house (casa) - a separate building located outside the city or in its vicinity. Occupies no more than 400 squares of land. A variety of it can be considered finca - the Spanish analogue of the Russian dacha;
- villa (Villa) - the same house, but on a much larger plot - up to 2 thousand squares. Has its own yard area.
Many investors prefer to invest in commercial properties. These include bars, shops, hotels, restaurants.
What to look for when inspecting an object
Out of ignorance or frivolity, many make the mistake of trying to buy a room remotely. In no case should this be done. First, you need to organize a study trip, having previously selected several objects for viewing. What questions should be asked to the seller will depend on whether you are buying a home on the primary market or on the secondary market.
If you are looking for an apartment in a new building, you will have to check the developer's documents for legal purity.
With such a question, it is better to contact specialists. Together you have to find out if the construction company has the following documents:
- Building permission for this site.
- Permit to work in this specific area.
- Proof of sole ownership of the object.
- Evidence that the land under the building is not subject to litigation.
- Receipt for transfer of funds for payment of IBI tax.
- Extract from the cadastral state register on the registration of a building under construction.
- Bank guarantee in case the construction company fails to complete the construction of the building. It is important to understand that the bank will be able to compensate for the funds you have deposited.
In addition, you need to find out:
- the amount of the first installment;
- the exact date of completion of construction and delivery of the object;
- building plan;
- what obligations regarding the connection of communications the developer undertakes;
- home quality guarantee period.
Buying a property on the secondary market will also require vigilance.
- First, you need to study well the technical condition of the building itself. For example, villas are often built on slopes and are multi-level. Therefore, it is important to make sure that such a house is not being sold because of its fragility.
- Secondly, you need to make sure that the seller is the sole owner of the building or premises.
- Thirdly, that there are no debts behind the construction.
The next step is to scout plans for what is planned to be built in the near future near your facility, so that the result of these works does not affect the quality of life in your premises.
But in the contract, pay attention to the following points:
- compliance of quality with the declared price;
- payment order;
- description of the object;
- terms of transfer of ownership;
- responsibility of both parties.
How is the process of buying and selling
Once you decide on the object of purchase, you can proceed to preparing the deal. It starts with signing a preliminary contract and making a deposit. Only after that, the house or apartment you have chosen is removed from the sale, and you have to perform the following steps:
- open an account with a local bank. Non-residents will first have to get a card at the police station and provide a fairly extensive package of documents. The procedure can take a long time, so you need to start this issue in advance;
- get a NIE - an identification code, which is required for any transactions in Spanish territory;
- apply for a loan if there are not enough funds for the purchase of real estate;
- pay tax. Today it is 7% of the price of the object. The operation is possible only after receiving the NIE;
- pay the rest of the amount for the purchased premises. This is best done by bank transfer.
Only after all the above steps can you go directly to the deal itself. During its conclusion, the seller, buyer, translator, notary and a bank employee must be present if a mortgage was issued.
Further, the seller transfers the keys, an order and a document to the new owner, on the basis of which the new owner will be able to conclude contracts with utilities. At the same time, the notary is obliged to register the property in the state register. When all the formalities are settled, the buyer can be considered the full owner of the purchased property.
Housing in Spain and residence permit
The Spanish state provides an opportunity for wealthy foreigners to obtain a residence permit in exchange for investing in real estate. To do this, it is not at all necessary to buy the most expensive house in the country - it is quite enough to become the owner of several objects, the total cost of which will exceed 500 thousand euros. It is important to remember that real estate purchased before 2021 (at which time the law came into force) is not taken into account.
If all the conditions are met, not only the investor, but also his family will be able to obtain temporary resident status. Moreover, the latest changes in the law have significantly softened the requirements, and now this applies not only to legal spouses, but also to civilians.
Alternatively, a foreigner can apply for a regular tourist multivisa for a period of 1 year, which gives the right to stay in the country for 3 months for six months.
Conclusions
Buying a home in Spanish territory has a number of advantages:
- a huge selection of architectural forms and formats of buildings;
- the opportunity to live in a country with favorable climatic conditions and access to the sea;
- good chances of getting a loan from a local bank if there are not enough funds to complete the transaction;
- the right to apply for a residence permit after all formalities and procedures have been completed.
- the opportunity to choose housing both in the secondary and in the primary market.
But all this will be possible only if you follow the instructions given exactly and do not trust dubious intermediary companies.
