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Spain has long held great appeal for buyers seeking a property in a location with year-round fantastic weather and an interesting cultural heritage, and is one of the most popular European countries for those searching for a property abroad to begin their search.
Spain is home to a diverse range of regions and cities, from the sunseekers’ favourites such as the Costa del Sol and the Costa Blanca, the rugged island resorts such as Ibiza and Mallorca and the culture-rich cities such as Barcelona and capital city Madrid.
The Spanish Property Market
While the Spanish property market has suffered at the hands of the global recession, this is actually good news for buyers of Spanish homes. Many sellers in Spain are accepting prices far below the asking price, meaning buyers can snap up some real bargains throughout the country.
Whether you’re looking for a villa a stone’s throw from the beach, an apartment in the heart of a bustling city or a country retreat, Kyero.com is here to help you find whatever it is you’re looking for in Spain.
Why Buy in Spain
There are many reasons why people may want to buy a property in Spain, especially now while property prices are low. Many people opt to buy a villa or a holiday home which can be rented out to other holidaymakers for part of the year.
These tend to be situated around the most popular tourist resorts, such as Malaga, the Balearic Islands and the ever-popular Marbella. Not all of these areas have been affected as badly as others by the recession, so anyone willing to pay a higher price for a premium tourist-friendly location will not be disappointed.
Business workers may find themselves seeking a property in or around one of the major cities. The economy in Madrid, Barcelona and Valencia remains relatively strong, and those making frequent business trips to one of these cities may choose to buy a property in the area.
While prices in the city itself may remain high, there are many locations around these cities which are more accessible to first-time buyers in Spain. Alternatively, there are some stunning towns in northern Spain which are dotted with beautiful farmhouses in swathes of Spanish countryside.
How To Buy a Property in Spain
There are a few things to remember if you’re planning to buy a property in Spain. Firstly, you should get to grips with the full buying process. For example, signing a reservation agreement means you have a set amount of time to pay the full amount (on top of your reservation fee) before you lose the house.
There are several different contract types which may or may not suit you, so be sure to decide exactly what you want from your contract in advance. There are additional fees for the administration process of buying in Spain, and many buyers run into difficulties if they attempt to alter the property without permission or if there is a dispute with the builders, so get everything agreed and signed before you allow any work to happen on your new property.