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All posts tagged buying a property in Spain

Buying a property in Spain is an exciting and life changing event for so many of our customers, and for most it is a dream that they have been working towards for many years.

Whilst viewing property and soaking up the glorious Spanish sun, it can sometimes be easy to forget the more serious side to purchasing property overseas. Well, let’s be honest, who can blame anyone for getting a little carried away when they find the property of their dreams?

So whilst it may sound like we’re bringing our customers back down to earth with a bump, (we’re absolutely not, we promise!) we’re just as excited as them! There are some serious matters that need to be fully understood when purchasing a property in Spain, and it is our job to remind customers of those matters, ideally before they even arrive in Spain.

For example – Are you aware of your obligations of owning a property in Spain? Spanish Wills? What happens at the Notary? What are the related taxes & costs when purchasing in Spain?  Whilst there is nothing to dampen your spirits or take away from the dream of owning your own home in Spain, these are matters that you should be advised of well ahead of purchasing.


We believe that the obligations of owning a property in Spain must be fully understood by our customers before the search for property even begins. So when you do find that perfect property, there are no bumps in the road.  Our ‘Top Ten’ this week is focused on the purchase process, so here are our suggestions & tips on those matters that we help our customers with along the way…


When customers speak to us & tell us that they are looking for property in Spain, the first thing we advise them to do is to speak with an independent solicitor.


If you’re going to be a homeowner in a different country, you really need to know what you’re obligations are going to be. An independent solicitor will also guide you through the process of purchasing the property, including obtaining NIE numbers, opening bank accounts, & making a Spanish Will.


The reason why we suggest using an INDEPENDENT solicitor, is so that the solicitor is not associated with any agent, including us, they are working solely for & taking care of you, the customer.


It is so important for us to understand exactly what our customers want from their property in Spain.

For example – Will you be using the property as a holiday home? / Will you be looking for a property with great rental potential? / Are you planning to live in Spain full time, will this be your permanent home?

We like to understand all of the details that you want from your dream property in the sun so that we can do our very best to try and find it for you from our vast portfolio.



We have many customers that know the exact location in Spain that they want to purchase a property in, but we also got a lot of customers that are still trying to decide where they want to purchase. Just like with understanding what you want from a property, it is very important to think about what you are looking for from a location too.

Do you want it to be a lively, thriving place all year round? Are you looking for a traditional, Spanish lifestyle in a small village? Do you want to be in an ex-pat community? Is it important for you to be near the sea? How about golf courses? Do you need to be close to schools, etc…

There is a lot to think about isn’t there…

blue skies


How much are you looking to spend on your property in Spain? To make it easier, we suggest clients stick to calculating it from a Sterling perspective.

We also suggest that you work out how much you want to spend on the whole project, so that is including the property, the taxes, purchase and legal fees (around 13-15% of the purchase price depending on the region).

(See Point 5 below for more details on this)



It’s important to know the cost of purchasing in Spain, and by speaking with an independent solicitor you will be fully ‘in the know’ about all of these, meaning that you will be aware of how much these costs will be from the very beginning.

These costs include –

Legal Fees (Conveyance Fees) / Land Registry / Notary Fees / IVA or ITP (Spanish Purchase Tax)

Depending on whether you are purchasing a new build or re-sale property various other taxes & fees can apply.

To find out more, and for an estimation of these costs please contact us for an in-depth look at purchase costs.

Colorful euro banknotes


Spanish Mortgages are available to non residents, currently at 65/70% Loan to Value/Purchase price (whichever is the lower,) & subject to status.

Generally speaking the set up costs need to be factored in are anywhere between 2-5%, depending upon the amount borrowed.  Also the purchase costs will need to paid as well as the deposit on the property as the banks will not roll these costs into the borrowings required.

Banks do offer 100% mortgages to Spanish residents, and to non residents on some developments, this is not normal practice though.


When it is time to complete on the purchase of your dream home in Spain, it will be in euro’s.

Ideally as a ‘Your Place in Spain Ltd’ client you will have spoken to a currency broker so that you are aware of how market fluctuations can affect the cost of your property.

It is important to understand that as the rate changes, the cost of your property purchase can too, & this can in some cases, be a considerable amount of cash.

We do recommend using a currency broker rather than a high street bank as massive savings are available, click this link to understand more about this.


Once you are ready to actually view property, it is time to fly to Spain, to your chosen location & view an organised portfolio.  

We think it is more comfortable & relaxed for our customers to fly out to Spain under their own steam, and to get to their hotel/rental property first before starting the viewings.

Once you are settled in, the viewings can commence…

Beach Couple


You’ve viewed the portfolio, (and in many cases one or two others that have been added to the mix whilst you’re there) and you have found ‘the one.’ You have made an offer on the property & it has been accepted.

At this point your independent solicitor should check the Reservation Contract to ensure that all is correct. In the event of anything not being as it should be, this also ensures that any moneys paid will be refundable

The legal team should then guide you through the rest of the process, including – 

Obtaining your NIE numbers / Opening bank accounts / Preparing & translating documents for you to sign / Arranging payments / Organising all final arrangements of the purchase

legal team


Once you own your property in Spain, the legal team should once again be on hand to direct the following –

Making sure all utilities are transferred into your name / Ensure all arrangements have been made for you to pay necessary property taxes / Inheritance & Wills


These ‘tips’ above are to be taken as a guide of what to expect and what to be prepared for when you start your search for a property in Spain.

A large part of our service here at Your Place in Spain Ltd is talking to our customers to make sure they understand the whole process of purchasing. We’re here to talk you through every step, and in a way, hold your hand through the journey. 

We’re here to help, and if you’d like us to give you a call and talk you through the process of purchasing in Spain, or if you would rather pop into our showroom to discuss your plans for buying in Spain, then you can find our contact details here.

You know what they say… “Knowledge is power!”

Be in the know, buy safely. Talk to us today.

Joanne Lynsdale, Your Place in Spain Ltd

Joanne Lynsdale, Your Place in Spain Ltd

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Buenos Dias! How has your Bank Holiday weekend been?  Make the most of today, relax and have fun before the working week picks up again tomorrow.


In Spain it has been a busy holiday weekend too, with Labour Day on Friday, and Mothers Day on Sunday, and our friends in Spain certainly know how to celebrate!


As the holiday weekend draws to a close today, why not settle down and take in our latest property selection with some of our favourite opportunities of the weekend…..


Don’t forget to let us know what your property requirements are, we’ll be happy to put together a personal property portfolio just for you, with properties that meet your criteria.  

Is your perfect property out there and waiting for you? If it is, then one thing is for sure, we’ll try our very best to find it!


Here we go…..

1. Apartment at Hacienda Riquelme Golf Resort, Murcia

1. A stunning first floor apartment with a fabulous open ‘L’ shape terrace with great views over the golf course.

€84,950 / approx £62,500


2. Apartment in Mojacar, Almeria

2. This 2 bedroom, 1 bathroom ground floor apartment is located on one of the most sought after communities in Mojacar.

€105,000 / approx £77,250


3. Apartment in Villamartin, Southern Costa Blanca

3. This very well presented 2 bedroom, 2 bathroom penthouse apartment is located just 100 metres from Villamartin Plaza with numerous shops, restaurants and bars.

€107,500 / approx £79,100


4. Villa in Albox, Almeria

4. This wonderful 2 bed villa is located just outside the large town of Albox. The property has fantastic panoramic views of the surrounding mountains.

€109,995 / approx £80,900


5. Bungalow in Moraira, Northern Costa Blanca

5. A single level 2 bedroom, 1 bathroom whitewashed bungalow situated in Moraira Park, close to the San Jaime Golf Course.

€119,999 / approx £88,300


All properties here are subject to availability, and plus purchase costs of approx 13-15%.  The sterling prices have been calculated at the current exchange rate (3/5/15) of 1.36.

Call in to our showroom, have a chat with us and tell us what you’re looking for in ‘Your Place in Spain.’  We look forward to seeing you.  Check out our opening hours here and address.

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At Your Place in Spain Ltd we have a commitment to the phrase ‘buy safely,’ so much so that we practically insist that you, our client, speak with an independent Spanish solicitor, which is without obligation, prior to flying out to view a property.

The benefit of doing this, is that you are fully informed of your obligations as a property owner in Spain, and that includes taxes and the purchase process, including all fees.  There are so many different figures thrown out to prospects, even a well known TV program is suggesting that there is “10% to add on top” of the purchase price, that figure is only the tax due, but what about the Notary fees, Land registry, solicitors fees?

The attitude of ‘no surprises’ for you in your purchasing process ensures that the buying decision is an informed one, as well as an emotional one, after all we understand buying your Spanish home is the realisation of a dream for many.


Once you have made the decision to buy, and you have the funds available, and an idea of where ideally you want to be, you now just want to make the right decision on the property and location.

So what to do next?

Your Place in Spain believes the current market offers opportunity for everyone, the prices are competitive, and many of the properties are in good locations.  It stands to reason any buyer should want to be advised of all that is available that fits their requirements in their chosen location.

We understand requirements as well as locations can change when you are actually in Spain.


Being prepared before travelling to the location and having an understanding of the obligations, cost and type of property that you want to view will maximize the time available to you whilst you are in the location, looking at what you actually want to see.

It is understandable that whilst the sun is shining, and the weather is warm, being taken to look at property that is of no interest to you would cause frustration. This can impact on your decision and affect your search for the right property in a negative way.

At Your Place in Spain Ltd we will work with your requirements and provide a property portfolio of details & images that fit those requirements. This way, you can then see the properties and get a feel for what your money can buy you. If you then wish to view one or a selection of the portfolio, the appointment is arranged, and whatever happens after that is down to you, and what you want to do.

So to summarise, we believe that buying in Spain is a straight forward process for you, the client, when you are fully informed of your obligations.  When you know what your cash will buy you and you’re prepared with an informative portfolio before you start the viewings, and when you have identified the style of properties to view, then there is a good chance that you will arrive at the realisation of your dream!


With over 2500 available properties across our portfolio in the regions of Costa Blanca South, Costa Blanca North, Murcia, Marbella and Costa Almeria, we believe we can help most achieve that dream, following our process of being informed and in control………..Get in touch see how we can help you.

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