What are the new rules for buying property in Spain?

Can Brits still buy property in Spain?

Whether you are an EU citizen or not, you still have the right to buy property in Spain after Brexit. The costs of buying a property remain the same whatever your nationality and, broadly speaking, include purchase tax, a Notary’s fee, a property registry fee and your lawyer’s fees amongst other miscellaneous expenses.

What are the pitfalls of buying property in Spain?

5 common pitfalls when buying a property in Spain

  • Not having your registrations in place before the buying process. …
  • Insufficient property research. …
  • Not accounting for all of the costs involved in buying a house. …
  • Not understanding your contract(s) …
  • No preparation for future fees.

Is it a good time to buy property in Spain 2021?

If you do have the capital and owning a property in Spain has always been your dream, then 2021 could be a good year to do it. … Countries with the highest salary find more affordable the purchase of a property in Spain and enjoy the holidays in Spain rather than in many other countries.

Can I still buy a house and live in Spain?

There are no restrictions on buying property in Spain, whether it’s commercial, residential or land. In fact, Spain encourages investment by foreigners, both resident and non-resident.

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Can British still move to Spain?

UK citizens can still move to Spain, but since the UK has now left the EU, those who want to make the permanent move will have to meet certain criteria in order to gain residency. These criteria vary according to your age, employment status and other factors.

Is buying property in Spain a good idea?

According to recent research, Spain came out as second of 33 countries as best for first-time buyers. The reasons given were a combination of reasonable property prices combined with a favourable cost of living as well as good average salary growth levels – all good reasons for buying in Spain.

Is it risky to buy property in Spain?

Factors to be aware of when buying Spanish property include property scams, high capital gains tax, and fluctuations in the property market. The added uncertainty caused by COVID-19 means that now could be a risky time to buy in Spain. The country’s rental market is also in flux.

Is there going to be a property crash 2021?

Prices are likely to keep rising for at least the remainder of 2021 – and probably into the early part of 2022 – as supply is still very limited and people are looking to move on with their lives after the pandemic, which for many will mean moving house.

Are property prices going down in Spain?

Property prices in Spain are expected to drop by 1.4 percent this year. The only country that will see bigger drops is Ireland, where property prices are expected to decline by 1.6 percent during 2021.

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Will Spanish property prices fall?

According to a survey carried out by Unión de Créditos Inmobiliarios (UCI) among more than 3,000 real estate professionals throughout Spain, 42% believe that prices will fall by between 5% and 10% across the board, while 29% expect rises of less than 5%.