A Guide to Buying Property in Spain

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.

The good thing about purchasing property in Spain is that large high street banks have partners in Spain which means you can get an easy to understand mortgage to finance your property purchase. A 10 percent deposit is payable by the purchaser once the initial contracts are signed by both parties.

Other costs you will needd to consider are VAT and Stamp Duty. Very similar to purchasing property in the United Kingdom

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