Are houses selling in Spain?

The summer months led to significantly higher numbers of virtual viewings in Spanish property, with coronavirus sparking substantial international demand to own a place in the sun. 2020 saw Spanish property prices rise by 1.6%, having seen a decline in 2019.

Is now a good time to sell property in Spain?

Due to the current uncertainty in property markets, housing prices in Spain are predicted to fall by between 3% and 3.5%. However, if you can wait until the second half of 2022 to put your property on the market, growth in property prices is expected to pick up.

What is the situation with buying property 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. Remember that if you buy a house worth more than €500.000 you can apply for a Golden Visa.

Will the housing market crash in Spain?

No risk of housing bubble. There is no housing bubble. At least, not the kind of bubble we are used to. Indeed, if we look at Spanish property prices and their evolution over the past 12 years, we can see that property prices are simply recovering, after a prolonged crisis.

Is it a good time to buy in Spain now?

House prices dropped by as much as 30%, but in the last few years, the market has become more stable. Prices in Spain have been rising steadily since 2016, and although the COVID-19 outbreak has affected the market in 2020, official figures show average prices grew during the second quarter of the year.

Don't buy Real Estate/Property in Spain as an Investment

Are house prices in Spain dropping?

2020 saw Spanish property prices rise by 1.6%, having seen a decline in 2019. Following some surprisingly positive moments for Spanish property in 2020, foreign demand for 2021 also appears to be on the rise despite COVID-19 and post-Brexit concerns.

How much below asking price should I offer in Spain 2021?

Property owners who sold their homes on a Spanish website accepted 14 percent below the initial asking price, according to research specialist Beatriz Toribio. That translates into an average saving of €33,400 on the average price of the sales surveyed. More than four out of every five sellers lowered their price.

Will property prices fall in Spain after Brexit?

Has Brexit led to a fall in Spanish property prices? The simple answer is no. Overall, Spanish property prices have risen since Brexit. Some coastal areas have seen a decline in demand from British buyers.

Is it a good time to buy a house in Spain 2022?

Is it a good time to buy property in Spain 2022? Yes, for sure, as you can see, prices are rising since 2014 but are far from the top of 2008. Returns are healthy and not excessive while financing remain low.

Is Spain in a housing bubble?

There has been an uptick in prices in the Spanish real estate market, but it can't be classified as a bubble. Or at least not yet, in an opinion that is widely shared by market analysts and academics. Housing will continue to get more expensive in 2022 in line with economic growth and inflation.

What are the pitfalls of buying in Spain?

Some of the common pitfalls of buying a property in Spain include deposit, purchase tax, issues with off-plan properties and properties being built illegally. During your research into buying a property in Spain you will have come across many stories of purchases in Spain gone wrong.

Can British people still buy houses in Spain?

Foreigners can buy a property in Spain regardless of their nationality. British buyers should not face added difficulties buying a house in Spain after the UK leaves the EU. Spanish law regarding the purchase of property does not differentiate between EU and non-EU citizens.

Is it safe to buy in Spain after Brexit?

Can I buy property in Spain after Brexit? YES. There are no rules that restrict the purchase of property in Spain to only EU citizens. This is a point to make clear straight away as the uncertainty can lead to misinformation and concern.

Why Brits are buying holiday homes in Spain again?

Before Brexit, as EU citizens, UK nationals benefited from freedom of movement, meaning that they had the freedom to live and work in any country within the European Union, including Spain. Many Brits took advantage of that freedom of movement in order to start a new life in Spain, or to retire to Spain.

How long does it take for a sale to go through in Spain?

Completion of the purchase is usually from one to two months from the date of signing the agreement and paying the deposit. However, if you are buying a property off plan, this period may be considerably longer, usually a minimum of one year, but prepare for delays.

Is it difficult to sell property in Spain?

Property valuation company TINSA carried out some research and found that it typically takes almost 10 months to sell a property in Spain so first things first, be prepared for a potentially lengthy process. Repatriate funds with WorldFirst's award-winning service. Up to 85% lower than High Street banks.

Is 2021 a good time to buy in Spain?

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. Buyers who purchase for the first time are increasingly looking to buy Spain.

Are house prices stable in Spain?

It is characteristic of a stable real estate market in Spain that's been growing since late 2012. Spanish house prices rose 1.68% during Q3 2020 (2.2% inflation-adjusted). In the previous year, property prices in Spain in 2019 posted a 4.68% rise according to the Instituto Nacional de Estadistica.

Where is the best place for Brits to live in Spain?

After all, Alicante is the most popular place among Brits. But it's not just the English, citizens from Canada, Germany, Sweden, South Africa, etc., also choose Alicante as their new home.

Are expats selling up in Spain?

New regulations have meant that many expats have been forced to cut down their stay in Spain and some are even selling their properties rather than applying for residency or the appropriate visa.

Are Brits selling up in Spain 2020?

British expats who have holiday homes in Spain are selling up over post-Brexit restrictions. British expats who have holiday homes in Spain are only allowed to spend 90 days there and are now “selling up” following post-Brexit EU restrictions.

How long are you allowed to stay in Spain after Brexit?

This means that Brits can visit Spain for up to 90 days within a 180-day period. If you enter and exit Spain numerous times within a 180-day period, ensure that you don't exceed 90 days. Exceeding the limit of your stay will result in legal consequences!

Do I need a Spanish bank account to buy a property in Spain?

Spanish laws require buyers to open a bank account in one of the Spanish banks, and transfer the funds there to pay to the vendor directly from the Spanish bank account.

Can you offer 20% below asking?

However, there are exceptions, so as long as you are not absolutely in love with the property and can afford to let it go, it's usually worth it to try for the lowest justifiable offer you can make, even 10 or 20% under asking. The worst thing that can happen is the seller will say no.

How much tax do you pay when buying property in Spain?

Expect to pay between 8% and 11.5% in taxes on a property purchase in Spain.