Why 2017 is the Perfect Time to Buy a Property in Spain

Things have changed a lot since Spanish property prices plummeted in 2009, when anyone who bought a property as an investment would have found it hard to sell. There is no longer any need to be cautious about buying a property in Spain with a view to selling it in the near future at a profit.

The Spanish property market is beginning to pick up in 2017, but prices are still very affordable. The price of Spanish property will very likely continue to rise in the foreseeable future, because there is a growing amoint of interest among  investors and potential buyers of holiday properties in Spain.

Anyone can buy a property in Spain

EU nationals have the right to buy a residence in Spain and can apply for a esidency as a matter of course. In 2013 a new residency law was passed by the Spanish government, allowing  any non-EU national who invests in Spanish property to be granted a residency permit which gives them the right to enter and leave the country as they wish.

You can let your Spanish property

If it is your intention to buy a Spanish property and use it as a base to spend your holidays, you can also make money on the side by renting it out when you are not in residence. However, be aware you will be required to pay tax on rental income and you must register the rental property with the local municipal town hall.

In spite of being taxed on rental income, and having to employ someone local, or use a local agency to clean the property, hand out the keys to your renters and be available if they experience any problems, you will be able to cover your expenses and make some profit by renting out your Spanish holiday home in the high season.

The Costa Blanca and the Costa del Sol are the best regions for an investment property in Spain. These areas attract the highest number of tourists each year, so you will have no difficulty in renting out a property in those regions.

Living In Spain permanently

If you are planning on retirement or want to work remotely, you can buy a property anywhere in Spain. However, you do need to be aware that in rural areas it may not be possible to get a broadband connection.

If you need to find employment in Spain, you will find the best job opportunities in a major city like Valencia or Barcelona. In small towns and rural areas there are fewer opportunities for finding work, other than seasonal jobs in hotels, restaurants and bars.

Buying a property in Spain is not complicated

Generally properties in Spain are listed when they are unoccupied, so sales can move very fast, unlike buying British property, which can be a slow process when there is a chain.

A good Spanish estate agent will help you with official paperwork and a local solicitor or Gestor can apply for a residency permit for you if you are unable to get to Spain to do this in person, or do not wish to it yourself. You will also be required to open an account with a Spanish bank.

Buying a Spanish property is safe

There is no chance of anything going wrong providing you use the services of a reputable lawyer,  and choose a reliable Spanish estate agent. Ask other expats in your chosen town to recommend a good agent, or get in touch with us today. Many thousands of property sales go through successfully each year in Spain and there is no reason why as a foreigner you should experience any problem when you buy a Spanish property.

There is no better time than 2017 to buy a Spanish property, whether you plan to buy it as an investment, as a holiday home, as a retirement home, or as somewhere to live and work permanently in Spain.