The Types Of Spanish Property For Sale
Are you thinking of moving to Spain, or are you already living the dream and simply want to know the types of Spanish property that are available? We understand you want to get the best value for your money whatever type of house you buy.
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Spain being one of the most diverse countries in Europe is historically, culturally and geographically diverse and offers a huge range of locations and types of homes that would interest the expat. Spain is definitely the place for sun, beaches, sea, mountains and views and has been a long time favorite for holidaymakers, buyers and expatriates wanting to settle in this popular destination. It is a tourist destination for many nationalities due to its beautiful beaches, countryside and historic cities and towns. For those who have invested in this fantastic place, they will tell you the lure of living here is so strong that you it cannot be easily resisted. There is a wide range of properties for sale in Spain from apartments, fincas, villas, cave houses and country estates.
Whether it is going to be a permanent home, holiday getaway or an investment that you want to rent there are several factors to consider when purchasing your property in Spain.
1. You will need to set your budget within the amount of money that you can afford
to invest. Make sure you allow for purchase taxes, utility connection fees and
always give yourself a contingency for unforeseen surprises that have a habit of
coming back to bite you when you are least expecting it.
2. Think about the type of property you want and the requirements you have set yourself including the size of your property - try and be realistic in your priorities.
3. Think about how you are going to use your new home, for example if you are planning to buy properties for rental purposes.
4. Also have in mind the part of Spain you in which you want to buy. Spain has a tremendous variety in climate, countryside, culture, crime rates and the ready availability of those things you are used to. Make sure you spend a few holidays in the area in which you are thinking of buying.
Let's now review the kinds of Spanish property
Spain has it all for you, whether you are a resident or a second home buyer whether for your holidays, investment
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1. A finca, which is literally a 'property' usually refers to any plot of worked land although nowadays it is mostly translated to mean a country property mostly preferred by foreign investors. However, when buying this type of property (and any other) ensure you use an independent solicitor experienced in the area you are buying as often there can be incorrect documentation and sometimes boundary issues.
2. Off-plan properties, much less popular today than previously, these are proposed properties that have yet to be built. If you have an inclination for newly-built houses fitted with the latest technology then this is the way to go. You can also save up to 25% if you consider acquiring properties using this method. It is important to get to know that the legal process you must go through and it is advisable to check out the terms and conditions of purchase. As with all property purchases in Spain, employ an independent property solicitor.
3. A country house or villa. If you are among those who adore a peaceful and
calm environment and enjoy gazing upon fields of olive trees, almonds and magnificent hills then this is the right choice for you. With these types of properties, some of which can be quite old, ensure you determine the structural condition of the property and that water and electricity are connected, or can be connected, before starting the purchase process.
4. Buying land or building plots
on which to build a property. In Spain land is often sold relatively cheaply and labour costs are not very high. You can buy land and
design your own house or villa at a relatively low cost, though there is one
disadvantage to this you have to finance everything as borrowing can only be
done once the building is complete.
5. Golf property. Spain boasts of around 300 days a year of sunshine which allows you to enjoy golfing if you are a fan. There is a wide range of available golf properties and even though prices for may still be relatively high you can often offset this by the low cost of living and lower green fees etc..
6. Cave houses
. If you are looking for cheap Spanish property
then this could be for you. Spain has a number of areas in which you can find these fantastic affordable, eco friendly properties and we at Spanish Inland Properties specialise in the sale of these unique homes. Usually when people first hear of cave houses
they think of cramped, damp and dark holes in the ground but the reality is very different. Today's modern cave houses are in most respects like conventional houses except their very nature means that air conditioning is not required in the blazing hot Spanish
summers and in the winters significantly less heating is required.
7. Village and Town Houses
. What generally differentiates these properties
from the more modern houses and villas found in towns and villages is their age.
Although there is no real definition town and village house are usually older
properties often requiring renovation and most often situated in a terrace.
8. Auction Properties.
Spain is experiencing one of the worst economic crises
since the days of Franco and there are a good number of owners who have an
urgent need to get rid of their property in Spain for one reason or another. Often
these properties are put up for auction, particularly in the coastal areas or Costas
and these properties can be an absolute bargain for someone in the position to buy.
Almost all types of Spanish property can be found at the auctioneers, these include
land, residential houses, commercial properties etc. The assets are sometimes
amazingly cheap as they may be close to repossession and need a quick sale.
9. Bank Repossessions
. Almost all the Spanish banks are in trouble and have far
too much in the way of toxic assets on their books. The banks are increasingly
being forced to sell off these assetss including the houses they have repossessed
often due to foreigners defaulting on their mortgages. More recently the banks
have been able to sell these properties at market prices and increasing numbers of
repossessed properties are coming onto the Spanish property market
. If you can
find your ideal property among the listings of repossessed properties then you
have probably got your hands on a bargain although the purchase process can
sometimes be frustratingly slow.
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Finding the best property for you in today's market can be hectic but if you know where to look then it as simple as a walk in the park. The price of the average Spanish property has fallen dramatically in the last few years and there are plenty of bargains to be had. The Spanish property market is most definitely a buyer's market and will stay that way for a few years to come. The prices of properties in inland
Spain are usually low compared to areas along the Mediterranean Coastal areas.
Also in areas like the Balearic Islands prices have fallen but at a much lower rate
than on mainland Spain.
It is important to consider any possible pitfalls that can be involved in your purchase of Spanish property. Be careful to protect your rights and your investments and make sure unscrupulous agents or owners do not take advantage of you. Search widely to familiarise yourself with all you need to know about the Spanish Property Market in order to avoid conflicts. Always, always ensure you employ the services of an independent, qualified and suitably experienced conveyancing solicitor to protect
your rights and investment before paying over one cent of your hard earned cash.
There are many reasons to acquire properties in Spain and they come with a lot of benefits. What are you waiting for? This is your chance to grab the type of Spanish property you wish to have.