All posts tagged Property in Spain
Ruth and Haydn from Manchester purchased their very own place in Spain in April of this year. They found a beautiful Villa in Villamartin, Southern Costa Blanca. At the start of the year they spoke to us about their plans to find a property that they could rent out to holiday makers during the summer months, and then visit themselves for the rest of the time.
As a family of five, it was important to them that the villa had everything that they would need when they were there. Their wish list was a villa, with a pool and garden, plenty of space inside as well as outside, and in a location just a short walk from amenities with everything that they would need for the perfect holiday.
“We always knew that we wanted to buy our own place in Spain eventually, and we also knew exactly what we wanted from a property there, but we just weren’t sure where in Spain it would be. As a young couple we lived in Marbella, and we travel to Murcia every year for our summer holidays with family and friends because we love the traditional towns by the Mar Menor. I also spent every summer on the Costa del Sol as a child as my grandparents lived there. Spain is a special place for us.”
“We have so many happy memories from our times in Spain. Being close to a lovely beach was important to us all.”
With Ruth and Haydn wanting to rent their property to holiday makers, they ideally wanted a location that would tick all the boxes with regards to amenities close by, beaches not too far away, easy access to airports, and plenty to do and see. The Southern Costa Blanca, and Villamartin in particular, was our first suggestion for a location that could be ideal.
“We really liked the Plaza, and knew that it would be good for those people who would be renting our villa too.”
We put together a portfolio of suitable properties and locations, and soon the flights were booked and the couple were off to view properties, and take in the location that they felt could be ideal.
“The first thing I saw was the lemon tree. The lemons were enormous, and it smelt amazing. I have always wanted my own lemon tree.”
“We landed at Alicante airport first thing on the Saturday morning; we were collected from the airport and taken straight to our first property. It took me all of two minutes to fall in love with it! The lemon trees in the front garden, the jasmine that reminded me of my Nanna’s garden in Mijas when I was little, the beautiful pool in the garden. We were just swept off our feet by it! We had a good look around the villa, both inside and out, and we both absolutely loved it.”
“We fell in love! The garden and pool was everything we wanted. Really gorgeous.”
After a tour around the local area, the beaches, and a look at some other properties that we had shortlisted for them to take a look at, they took the afternoon to relax, and discuss all they had seen. Since January they had looked on websites and property portals trying to find a villa that they could see themselves in. It felt like finally, here was the perfect one, waiting for them in Villamartin.
“We sat under the blue sky, eating tapas, and enjoying a glass of wine. We knew we were making the right choice.”
“The weather was just beautiful, and we had left behind a grey and rainy Manchester. We sat by the pool of our hotel in La Zenia with a drink and some lunch. We thought about how perfect the villa was both for ourselves and our children, but also for those that would want to rent it out for their own holidays too. We made the decision to make an offer. It was soon accepted, and all of a sudden it wasn’t just a dream anymore. We had done it. We had our own place in Spain! It is just the best feeling.”
From going on their trip to Villamartin in early March, to getting the keys at the end of April it has been a quick turnaround for Ruth and Haydn, which is exactly what they wanted because guess where they are going for their next holiday in the sun…
Ruth and Haydn used our service from beginning to end, and took our advice by using our highly recommended independent legal team, who ensured their purchasing process was both safe, and efficient. They also used our preferred currency broker to get the best exchange rate possible at that time. If you would like to speak with our team, and use our purchasing process then contact us here. We look forward to working with you, and helping you find your very own place in Spain.
“We can’t wait to start making special memories in our new place in Spain. We love it so much.”
Your Place in Spain currently understand that the Brexit decision will affect the purchase process of buying a permanent or holiday home in Spain.
How?
Well firstly we must advise any changes will take effect only when Britain officially leaves the EU and we understand that is circa 2 to 4 years from when the button is pressed, metaphorically speaking.
What will change?
We can only look at how property in Spain is purchased from countries outside of the EU, countries such as Norway, Switzerland, Russia, Australia and America, for example. The process appears to be straight forward, affordable, and manageable.
It maybe a Visa will be required (available on-line in some locations.) It maybe that the legal costs will increase as the process required for a non EU buyer will perhaps be a little more long winded.
It maybe that the Spanish government will require another tax (why wouldn’t they, like every county they may see an opportunity)
Health care
This is an area where uncertainty is high, currently retirees (65 years plus) from the UK receive free healthcare on a reciprocal basis. It has been mooted that many tens of thousands of Spanish people currently live & work in the UK across many sectors, anything that damages that agreement may impact on those people too.
The value of the Euro
This is a difficult one, in as much as since the decision to leave the EU the euro/pound exchange rate fell to as low as circa 1.16 from a pre referendum high of circa 1.30. As we write this document the rate stands at 1.19 fluctuating around the 1.20 mark, interestingly over the last 4 years the rates have been just as volatile with some highs and lows.
One benefit not to be overlooked is that with the current rates any British seller with a view to returning to Britain will receive more sterling, which could suggest that asking prices are open to a haggle.
After speaking with our currency exchange partners we understand that until an exit, and the timeline for an exit is established, the Euro may well continue to be just as volatile.
A Property purchase stampede?
We Brits love Spain and Spain loves us Brits, the weather, the beaches, the cost of living, the people, the golf, and the villages. For many buyers the dream of owning ‘Your Place in Spain’ is still on, with 2 years at least before any changes are likely to be implemented it may just be the time to get serious again about the prospect of buying before any increases are implemented.
Here is a link to an article written by Mr Marl Stucklin a well renowned Spanish Property market analyst: http://www.spanishpropertyinsight.com/2016/06/27/post-brexit-change-will-come-slowly-british-expats-spain/
So should you begin to turn you mind to buying in Spain, let us help. We look forward to hearing your property criteria and requirements and helping you in your search. Take a look around the property on our site, and for further information get in touch here.
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Ten Reasons Why the Southern Costa Blanca Is One of Europe’s Most Sought After Locations –
If you’re thinking about purchasing a property in Spain, whether a re-sale or new build property, for investment, a holiday home or for full time living, then there are so many reasons why the Southern Costa Blanca should be top of the list.
This is a sought after location, offering blue flag beautiful beaches, golf courses, & Alicante’s largest shopping centre, but the list of reasons to purchase here is set to grow as developers are returning & building some of the most luxurious properties and innovative opportunities in Spain.
Learn a little more about this fantastic location with our top ten reasons that make this location just too good to miss –
1.Property Prices – Now Is The Time To Buy:
As a preferred location in Spain, the property prices in the Southern Costa Blanca are on their way up. Don’t let that put you off though, with the exchange rate as it is right now (keep a close eye on this here) you can still grab a great property at a great price.
It is important to understand that the entry level for a good quality property in this desirable location is slightly higher now. So rather than the €40-50,000 price levels of a few years ago, figures of around €85-105,000 (£62 – 77,000) are opening buyers up to a much larger number of really fantastic properties, perfect for a holiday home or full time living.
2. New Build Opportunities:
The new-build opportunities in the Southern Costa Blanca really are endless right now. With reasonable prices, and beautiful locations, property developers are very much ‘in tune’ with what their customers are looking for and are using new technology and materials.
If an investment property is what you’re after, then new build could certainly be the option for you. With fantastic locations, close to beaches, amenities and golf, new build properties offer great investment potential via rental income & capital growth.
A number of these new build developments also offer buyers the option of managing the renting of the property when they are not using it. Contact us to find out more about this option.
3. Beaches:
A large section of the Southern Costa Blanca is also known as the ‘Orihuela Costa.’ The Orihuela Costa is a coastal region situated on the Costa Blanca, which covers several coastal resorts including Punta Prima, Playa Flamenca, La Zenia, Cabo Roig, Villamartin, Campoamor and Mil Palmeras.
This is an ideal destination for those looking for property close to the beach, as many of the major beaches along this stretch of the Costa Blanca are Blue Flag, but there are also plenty of smaller, quieter beaches to be discovered and enjoyed too.
Perfect for taking the family to the beach for a day by the sea, or maybe a traditional Spanish lunch at one of the many chirringuitos.
4. Golf Courses:
For a long time Villamartin was known as the home of golf in the Southern Costa Blanca, but in recent years many more golf courses can be found in this fantastic location.
There are some stunning, high quality golf courses all within a short drive of one another. A true golfers paradise, and with all courses providing stunning views and scenery, this is a great place to soak up some sunshine and pass the time with your favourite hobby (if you’re a golfer that is!).
The courses include Las Ramblas, Campomoar La Finca, La Marquesa, Las Colinas, Lo Romero & the courses at Villamartin too.
Golf property is also excellent for rental potential too; if you’re planning on renting out your property then these golf courses bring visitors to the area all year round.
5. Shopping:
If the golf courses make the Southern Costa Blanca a ‘golfer’s paradise’ then La Zenia Boulevard means it is a ‘shopaholic’s heaven’ too!
The largest shopping centre in the province of Alicante is located in La Zenia, and if you love shopping then you’ll absolutely love La Zenia Boulevard.
There are over 100 fashion shops, restaurants & bars, a food market, a children’s play area, a casino, and a bowling alley. There are also activities that take place every weekend, drawing in the crowds from all over the Southern Costa Blanca.
There really is something for everyone, and it is open late in to the night too meaning you can quite literally shop until you drop!
6. Re-Sale Property:
There is some beautiful re-sale property on offer in this great location with everything from apartments & townhouses, to traditional fincas & villas, available at some fantastic prices.
If a new build property isn’t for you, then don’t worry as it’s safe to say that you shouldn’t have too much trouble finding another style of property in the Southern Costa Blanca
Take a look here.
7. Investment:
The term ‘investment opportunity’ is often used when people talk about overseas property purchases. The new build opportunities on the Southern Costa Blanca have opened up the possibility of investment buyers having the ‘best of the both worlds’ when it comes to reaping the benefits of owning a property in Spain.
Investment buyers can purchase a property at the entry level price (the 1st Phase) and when the building is complete they can begin to utilise on the property management and receive a profit on the running costs of the property, and of course on the capital growth too!
At the same time the buyers can use the property (low season, so as not to effect rental figures) and appreciate the benefits of such a fantastic investment and of course the Spanish sunshine! Talk to us for our take on the opportunities.
8. Easy Access:
With Alicante airport just 35-40 minutes drive away from the Southern Costa Blanca, it is very accessible. It is open 365 days a year, with flights coming in from most UK airports & there are plenty of low-cost airlines flying to the location too.
There is also Murcia San Javier airport, around a 30-35 minute drive from the location.
9. The Weather:
The Southern Costa Blanca’s climate has been recognised as one of the best in the world by the World Health Organisation.
There are almost as many sunny days in the winter months as there are in the summer, and the Costa Blanca is known for being dryer in the winter and less humid in the summer that the other Costa’s in Spain.
You can expect up to 325 days of sunshine per year…So pack you sunglasses and sun-screen…the sun is shining!!
10. Amenities:
The Southern Costa Blanca is home to golf courses, property developments, shopping centres, hundreds of restaurants, bars and shops, and more, and really does have everything you need.
It is also a place that caters for all too. If you are looking for a busy, place with night life and tourist resorts then you can easily find that. But you can just as easily find the quaint and quieter areas and small villages too, that are a little more traditional.
There is such a large and fantastic choice of places to discover.
Written by Joanne Lynsdale, for Your Place in Spain Ltd.
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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…
1. THE FIRST THING TO CONSIDER – LEGAL ADVICE
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.
WHY IS THIS?
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.
WHY AN INDEPENDENT SOLICITOR?
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.
2. THE PROPERTY – WHAT ARE YOU LOOKING FOR?
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.
3. LOCATION, LOCATION, LOCATION
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…
4. THE BUDGET
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)
5. THE PURCHASE COSTS –
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.
6. MORTGAGE INFORMATION –
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.
7. CURRENCY – CHANGING YOUR MONEY –
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.
8. GOING TO THE LOCATION & VIEWING PROPERTY –
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…
9. PURCHASING A PROPERTY –
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
10. YOU’VE PURCHASED A PROPERTY IN SPAIN – NOW WHAT?
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
