How to Find Apartments for Sale in Spain Online?

 

Homeownership is high in Spain, with around 80% of residents owning property and most of it for free. Real estate prices have fallen by as much as 30%, but the Overseas Property for Sale market has stabilized in recent years.




 

Prices in Spain have been rising steadily since 2016, with the COVID-19 pandemic taking hold of the market in 2020, but official figures show average prices rose in the second quarter of this year. Sale prices are up 2.1% year over year, new home prices are up 4.2%, and existing home prices are up 1.8%.

 

Not surprisingly, home sales fell sharply. According to government statistics, foreign buyers buy between 18,000 and 25,000 homes every three months in Spain. Real estate professionals estimate home prices to range from 5% to 10% in the short term.

 

Are there requirements to buy Apartments for Sale in Spain?

For foreigners who (legally) buy property in Spain, all they need is an NIE (Foreign Identification Number). This unique number is required for all transactions in Spain. It must be with you before you sign the certificate, as it must be present on every document signed or issued in Spain. Finding Property Overseas isn't complicated, but it does take time. Ask your realtor to help the NIE expedite the process as quickly as possible.

 

In addition, although it is not required, having a bank account in Spain speeds up payments, and simplifies all procedures. Finally, keep in mind that if you own property in Spain and do not live in Spain, you will need to appoint a financial officer.

 

Do you need to buy or rent Apartments for Sale in Spain?

The modern real estate market has many characteristics and it is advisable to do a purchase before making a move. Factors to consider when buying overseas property, include real estate fraud and fluctuations in the real estate market. Before the pandemic, local governments wanted to impose strict rules on villas after rents rose in areas popular with investors.

 

There are various rules for people who want to buying a house overseas can apply for purchase and rental licenses, and in Madrid, where the new measure only covers residence permits for up to 5 days. If you are considering a short stay, renting in Spain may be a more viable option. Because it has a higher capital gains tax which may negate the benefits of short-term purchases in Spain.

Location: London, UK

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