Spain is the country where you can have property ownership without any mortgage. Therefore, around 80 percent of their population owns the place. It is a much easier option if you are planning a long-term stay. You won’t have to pay a monthly rent then.
Although you can buy a house or any property if you are a foreigner but you still need to follow certain laws. Like any other country that provides you with an identification number, Spain has an NIE number. This number allows you to make transactions.
If you do not have your NIE number, go and get it. All you need to do is to visit any police station in Spain and ask them for this number. If you are a national of any European country, it will be easier for you to get it. Otherwise, it might take some time.
Although the process is not difficult but it will take some time. Therefore, you should better consult a lawyer or any real estate agent. As they are locals, they can be of great help to you.
You can get a local estate agent from javeaestateagent.com. They will help you out in every possible way while you are aiming to buy any property in Spain. You can check out their website and even the properties on sale. Their online services are just great and therefore, you won’t even have to go out to every site. Check out the site while being at home and visit the one that you like the most.
But other than the NIE number, there are some other things that you need to follow.
1. Document your taxes
You will need to do planning, which will make you look like a serious buyer. Although the cost varies with the location of the property and the type of the property but you still need to pay the taxes. These include, a transfer tax amount and land registration fee and notary costs.
2. Letter of intent
This is not a mandatory thing and does not include any legal department. However, if the other party asks for a reservation agreement or a letter of intent, you have to provide them.
3. Making payment
Now is the time to get the deal done. Give the amount and get property ownership.
Any restrictions for foreigners?
No, not at all. Spain is completely open to foreigners. This might be shocking for you but a few years ago, the government of Spain even encouraged foreign buyers. This is a form of investment, which is beneficial for the country. Therefore, you won’t face any restrictions.
In addition to this, if you are a national of any European country, things will be much easier for you. Non-Euro nationals only need more time and they can also get involved in this business. You will need some time to get proper documents and your NIE number and not on any other thing.