How to Buy a Dream Home in Spain as an Expat?

No matter whether you are from America, or other developed countries, everyone has their own reasons to move to Spain. Major reasons behind it could be employment opportunities, cultural traditions, favourable climate, and high quality of life. Although it might seem tempting in the first place, any real estate process involves certain risks and you need to stay alert to grab a profitable deal.

Understanding the legal and property buying process, in that particular sense, is essential. It will not only protect you from common pitfalls but will also save your time, money, and energy. Whether you would like to spend retirement years in Spain, are looking for a luxurious holiday home, or just buying for investment rewards, it’s crucial to be clear about some key aspects to make your purchase process smoother.

To help expats get started, we have covered all the important details in this comprehensive guide to give optimum support throughout the journey of buying a property in Spain. So let’s begin!

SPANISH REAL ESTATE MARKET

The real estate market in Spain offers plenty of great opportunities for foreign investors and expats looking to settle down in the country with their family and friends. The overall scenario of properties has tremendously improved with newly constructed buildings, low-priced apartments, and lavish villas, equipped with private pools and gardens.

You can’t say the same thing about the whole country in particular as each region operates differently and have different property prices. Therefore, it is necessary to be familiar with nuances and differences that come between regions to make the right selection.

ARE FOREIGNER PERMITTED TO BUY PROPERTY IN THE SPANISH TERRITORRY?

The short answer is Yes; any foreigner can buy a property in Spain. However, there is a slight difference, in any instance, you are not a part of the Spanish national, you need to follow an additional step prior to the purchase.

The primary step is to issue your NIE number, which is basically an identification number that all foreigners must attain once entering the country. As we have discussed above, things might change depending on the region. If you belong to a European Union country, you need two kinds of NIE i.e. temporary NIE number and a resident NIE. On the other side, if you are a non-EU citizen, you need to apply for a Resident NIE number and non-resident NIE.

HOW TP PURCHASE A HOUSE IN SPAIN AS AN EXPAT?

The procedure of buying a property in Spain is divided into three steps:

Down payment: process and diligence that takes place prior to buying a property.

Public deed: validating the buying contract and agreements.

Formalities and processes that arise after the purchasing phase.

There are times when these procedures are completed in just one or two weeks, given that everyone works collaboratively, including buyer, seller, and real estate agents.

Although the property buying process seems perplexing in the initial stage, everything can be smooth sailing with the optimum support of trustworthy real estate agents. We can help you to purchase your dream home safely in Costa Blanca, Moraira, Javea, Denia, and other regions and will continue to put efforts to help you move abroad.

If you’re serious about buying Spanish properties, let us help you explore suitable properties and give all the guidance you need on a property buying trip. Contact our experts today!

If you wish to receive more information, do not hesitate to contact us.

Phone: +34 966 397 944

Email: admin@calpe-hamiltons.net