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Spain Real Property

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Spain is the second country since Bulgaria to purchase housing from Russians. However, according to Yandex ' s keyword statistics, the leader ' s gap is rapidly narrowing.

This is largely due to recent developments Real estate prices in Spain fell by between 30 and 40 per cent of their peak in December 2007. In May 2013, the average cost of housing in the secondary market in Spain fell below Euro2,000 per square metres. The purchase of a house in Spanish resort has thus become more accessible to Russians.

Mortgage, taxes, GNW

It is important to note that in Spain, foreigners can expect a mortgage for the purchase of real property from 5 to 6 per cent per annum, with an initial contribution of up to 50 to 60 per cent of the cost of the facility. However, the amount of credit should be at least 100,000 euros.

Among the benefits of the Spanish market are the lack of restrictions on the purchase of housing by foreigners and the low real estate taxes on other Western European countries. In addition, in spring 2013, the Government of Spain announced that it intended to provide the NIS in the country for the purchase of real property worth over half a million euros.

Popular areas and prices

The most popular regions for the purchase of real property in Spain among foreigners are the islands of Tenerife (Kanar Ov) and Majorca (Balear Ov), the second largest city of Barcelona, the resorts on the coasts of Costa Blanca, Costa del Sol and Costa Brava, such as Torremeha, Alikante, Marbela and others.

Some of the lowest possible options can be found on the Spanish coast of Costa Blanca. Apartments from one bedroom on the secondary market can be bought here for 40,000 to 50,000 euros. The apartment on the news near the sea will cost much more. A separate house with a small site in a well-built complex 5-6 km from the sea can be purchased for Euro120,000, the price of villas begins from Euro150,000 in the ashes of access to the sea.

In Majorca, the cost of apartheid begins from 100,000 euros, while in Tenerif it is quite realistic to find an apartment for 60,000 to 80,000 euros.

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