Spanish current Real Estate Market
Despite the well-known crisis in the Eurozone, wealthy investors are taking advantage of “bargains” in the Real Estate Market, which is helping improving the economy of many European countries whose financial situation was about to collide. Many countries such as Cyprus, Ireland, Greece or Portugal have noticed this new source of investment and even have made the necessary changes in their legislations to make their country even more appealing for foreign investors.
Spain has followed a similar path to the said countries but making itself even more successful when talking about catching Real Estate investor’s interests. Spain is currently offering the most popular hotspots for premium foreigners, such as Madrid, Barcelona, Marbella, Ibiza, Alicante or Mallorca. These cities count with the perfect profile to initiate a second life: great weather, Mediterranean lifestyle, good services and a promising profile to develop business related with tourism, hospitality and trade.
In conclusion, overseas investors are looking for a country offering wonderful socio-economic profile which may allow them to live with their families, stablish a business and most important, that entitles them free access to the coveted Schengen area, which most of the European Countries are part of.
How can we help you buying a property?
Regardless the type of property you wish to buy (home, holiday or business), our Law Firm counts with a group of experts who can assess you throughout the entire process. Our Law Firm’s Real Estate experts can offer you the assessment you need in relation to the Spanish current legislation for the acquisition of properties. Our attorney can help you contacting a reliable Real Estate Agency, where you can be assessed about the type of property you should buy and the perfect location of it.
Our team of attorneys are dully qualified to inform you about any relevant aspect that you need to know prior investing in property in Spain, especially those aspects dealing with taxes, for the same may vary whether you are a legal resident in Spain or not. For instance, our attorneys can inform you about your duties and rights when owning a property in Spanish territory (this is govern by the Spanish Horizontal Property Act).
Also, with our help you will save frequent flights to Spain for we can represent you in every step. For instance, we will run a check on the property prior initiating any procedure, thus avoiding any fraud, pitfall or misunderstanding between the parties during the conveyance procedure. Just by granting a Power of Attorney on our behalf we will be able to do the preliminary findings, such as:
- Check that taxes are up to date.
- Check that the property if up to date with IBI, burdens or duties.
- Request a Nota Simple or Certificación Catastral to verify that the documentation of the property is correct and complies with the Law.
- Verify that all licenses have been granted, such as the First Occupation license, if applicable.
If you wish detailed information about our conveyance process, legal representation and fees, you just need to schedule a consultation with any of our Real Estate Lawyers. Start your property investment with the right foot.