Why Invest?
The Spain has enjoyed the fastest growth in property prices anywhere in the world in the last 20 Years. If you had bought in Spain two years ago its likely your property value would have appreciated around 20-30% per annum in most of the areas.
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Market Report
Our forecast is that the housing prices will continue to rise in the future as the housing market is still flourishing here and the prices have gone up by 220% in the past five years.
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Economic Overview
Spain's mixed economy supports a GDP that on a per capita basis is 87% that of the four leading West European economies.
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Visa/Residency Issues
Spain no longer refuses a residence card to any UK citizen or their family members and dependants. Spanish regulations state that any person who resides in Spain for more than 183 days (approx 6 months) should have an official residence permit.
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Getting to Spain
Spain boasts over 30 international airports. Many airlines operate to Spain, including an increasing number of low-cost airlines from the UK.
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Fees & Taxes
- A property owned by a company and generating an income is subject to a tax of 35%. A resident is subject to a 15-45% income tax based on the amount of income earned in Spain.
- Buyers of brand new houses in Spain are liable to paying 7% IVA (VAT) if the house is completed or is being built at the time of the purchase, plus an extra 0.5% stamp duty. However, if you buy land in Spain marketable location or parking spaces in garages, then the VAT payable rises to 16%.
- When a property sale in Spain takes place, a capital gains tax must be paid by the seller. According to Spanish monetary law, the purchaser withholds 5% of the total purchase price to make sure that the seller does not take the money and run. This amount represents a capital gains tax on the profit made by the seller at the time of the sale.
- House buyers of re-sale property (as opposed to brand new) are required to pay the Impuesto de Transferencia de Propiedad - Transfer Tax - which is now 7%
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Spain
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 |
| Population |
46,061,274 |
| Languages |
Castilian Spanish, Catalan , Galician and Basque |
| Area |
194,897 |
| Currency |
Euro |
| Dialing Code |
+34 |
| Emergency Services |
999 |
Spain Overview
Spain, officially the Kingdom of Spain is a country located in Southern Europe, with two small exclaves in North Africa (both bordering Morocco). Spain is a democracy which is organized as a parliamentary monarchy. It is a developed country with the ninth-largest economy in the world.
Average Property Prices
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Buying Process
- Although buying a property in Spain can be highly recommended both from an investment as well as personal point of view there are still many legal and bureaucratic complications and peculiarities involved with the purchase.
- You need a good lawyer when buying property anywhere in the world and Spain is no different. So your first step, before even talking to estate agents, should be to find a trustworthy lawyer.
- When you have chosen a property the first step is to take it off the market and reserve it for a limited period of time. This is done by paying the developer a reserve of 3.000 to 6.000 Euros, which typically buys you 30 days to arrange for signing a private sale contract and making the first payment.
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