A house in Spain is essentially any residential property that can be purchased in Spain. Due to the mild climate, beautiful beaches, and sea, this country is in high demand among buyers of suburban real estate.
Houses, apartments, and cottages in Spain are bought for renting out and obtaining residence permits (residency).
House Sales in Spain
Foreigners, particularly citizens of Ukraine, can relatively easily purchase a house in Spain. For this, you need a passport and a foreign identification number.Purchasing any property in this country grants the right to a residence permit. However, to obtain a residence permit, you need to spend at least 500,000 euros on the purchase. Previously, there was an opportunity to obtain a golden visa, but due to criticism, the issuance of golden visas was suspended.Non-residents (people without a residence permit) can also own Spanish suburban property. For both residents and non-residents, buying residential houses in Spain involves:
- opening a bank account in Spain;
- reserving the property;
- checking the property;
- preliminary contract;
- finalizing the contract with a notary;
- registering the new owner's property in the Spanish real estate register.
Both residents and non-residents can open a bank account in Spain. However, it is easier for residents. You need to provide a resident card and a set of other documents. Which documents exactly – the bank will tell you.It is more difficult for non-residents. Not every bank agrees to work with non-residents. You will also be required to provide a set of documents. Which documents – depends on the specific bank. The company
Spanish-life will help you with both the documents and finding a bank, regardless of your resident status.Next, you reserve the property – pay the deposit (usually ranging from 3,000 to 10,000 euros or 10-12% of the total amount) and sign a reservation contract with the seller.After the reservation contract is signed, the legal purity of the property and its compliance with the sale's declared characteristics are checked.If everything is fine, the preliminary contract is signed. It includes payment terms, price, and other important details.The final stage of the purchase – the final contract with a notary and registering the new owner in the real estate register. If necessary, take out a mortgage. Contact the bank before signing the notarial contract.
Prices of Houses in Spain
The price of a house in Spain depends on many factors – location, type (private house,
new build, cottage, secondary market, villa). For example, a
villa in Spain with a pool can cost 500,000 euros or more. A small apartment or studio can be bought for 55,000 – 60,000 euros.A lot depends on the region. For example, the average price of residential houses on Costa Blanca is 1850 euros per m². On Costa del Sol, prices are higher – from 2700 to 5000 euros. The national average price for property is 2500 – 3500 euros per m².However, these prices are approximate, and the price of a house in Spain changes constantly. Be sure to consider additional costs.In addition to the property itself, you will need to pay for notary services, property evaluation, registration, and taxes. We recommend setting aside 10% of the planned amount for additional expenses.
Why You Should Buy a House in Spain
An
apartment or private house in Spain is not just comfortable housing abroad in a rich and developed European country. It is also an investment. As mentioned earlier, purchasing residential homes in Spain gives you the opportunity to obtain a residence permit, and later – Spanish citizenship.Additionally, a house in Spain, especially by the sea, is a profitable investment. The majority of the country lies in the subtropical belt. Therefore, the climate in Spain is quite mild and warm.The country itself has access to the sea. This makes it popular among tourists, especially in the summer. Buy a house in Spain on the coast – and each summer, you’ll receive a good additional income. However, tourists come to Spain not only for the warm sea and beautiful beaches.Spain has unique architecture, many outstanding monuments, and interesting places. Thousands of tourists from all over the world flock there year-round to see them. These tourists also need accommodation. They will be able to rent it from you.Students also rent accommodation. If you buy a house in Spain to rent out, prefer an inexpensive private house or studio apartment. These are the ones most often rented by students and tourists.
Where to Buy a House in Spain by the Sea
Foreign citizens can buy houses throughout Spain. The most in-demand real estate is in the
Costa Blanca province. This province is known for its mild climate and affordable resorts. The most famous among them are the cities of Benidorm, Alicante, Altea, Villajoyosa, Albir, Calpe, and Torrevieja.Thousands of tourists visit them every year. If you want to buy a profitable house in Spain, pay attention to Costa Blanca province and the listed cities.The Costa del Sol province is also popular with foreigners buying property in Spain. It is known for its luxurious resorts. Here, focus on the cities of Malaga, Estepona, and Marbella. However, property prices on Costa del Sol are higher than on Costa Blanca.Catalonia is another popular destination for foreigners wishing to buy a house in Spain on the coast. People buy homes both in Barcelona – the capital of the region – and in small seaside towns.Buying a house in Spain is a serious step. It gives you the opportunity to obtain a residence permit abroad in a rich European country, and later – Spanish citizenship.It is also a good investment – the house you buy can be rented to tourists and students. However, approach the purchase responsibly and consider many nuances to avoid falling into the hands of scammers.Spanish-life will help you select and buy a beautiful house in Spain. On the website, you will find photos and descriptions of hundreds of houses in different parts of the country.
