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Buying A Property In Spain

Travel : Buying Property And Moving Overseas

For those seeking sun and sand and sangria in the rest of Europe, Spain has become a popular destination for buying a property.

But how to go about it? Well, there is a lot of research you can do online before you go abroad - decide the area you might want to live in, and read up about the area, and any planned developments that might affect your decision.

Try to go over for a couple of weeks, and pack the time with exploring the area and visiting houses. Local agents will be helpful - of course they want a sale too!

Note that when buying in Spain although property is cheaper than the UK in general, you can expect to pay 10-15% of the value of the house in fees!

There is a 7% tax on the declared propert value, and a Plus Valia - a type of capital gains to the local authority, to cover any increase in property price since last sold!

There may also be annual fees like the council tax equivalent - the Contribucion Urbana. Lenders also require a deposit of around 30%, much higher than the UK.


By: Stephen

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