A Guide to Buying Property in Spain
Spain is a fantastic country; the sunny weather, the culture and the wonderful activities available make it of superior popularity and it is no wonder so many people decide to buy property here. Spain is nicknamed as Sunny Spain because the beautiful weather is never dull.
The Bay of Biscay has a slightly different climate than anywhere else in Spain due to its location – an Oceanic climate is found here which just means that the summers are not as dry. The beautiful scenery, weather and wonderful events and culture make Spain a fantastic place to live and visit.
You can find all sorts of Spanish property from traditional Spanish homes to modern apartments and resort villas.
The Spanish Property Buying Process
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.
You will also need to consider additional costs such as VAT and Stamp Duty – much the same as purchasing property in the UK.