A Guide to Buying Property in Spain

Posted by Paul Rhodes

September 17, 2008

by Paul Rhodes

Spain is becoming ever popular with people wishing to buy abroad. The ever sunny climate, culture and the many wonderful activities available make it an exciting place to own a property overseas.

There is a slightly different climate in the Bay of Biscay because if it’s location. There is an oceanic climate here which means the summers are not quite as dry as the rest of Spain. This is more than made up for by the beautiful scenery and culture.

There are many types of Spanish property from traditional Spanish homes to modern apartments and resort villas.

The first thing you will need is an NIE which is a tax identifier for Spain and you will need this before you even walk into an estate agents office. You can get this from a local tax office in the area. You will also need this before you open a Spanish bank account.

One of the best things about purchasing property in Spain is that many of the large high street banks have partners in Spain which means you can get a simple to understand mortgage to finance your purchase. A ten percent deposit is payable by the purchaser once the initial contracts are signed by both parties.

You will also need to consider additional costs such as VAT and Stamp Duty. Much the same as purchasing property in the UK.

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Before buying property Overseas, be sure to get the Ownership Overseas Guide to Buying Property Overseas and Guide to UK Mortgages Overseas

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