Foreigners can easily buy real estate in Spain by following a few easy but essential steps. People from all nationalities can buy property; regardless of their language, origin or country. In addition, Spain promotes foreign property investment whether the investor is a resident or non-resident.
How to Find the Best Property as an Expat in Spain?
The best way to find the perfect property that matches your needs and expectations is via online listings. The Internet is the most practical tool for property research.
Strolling through the streets to find property for sale in Spain has become history; the new-generation property hunt is online now. Moreover, you can even buy your home from abroad today, only by using online communication channels.
Using the internet to gather information about potential properties will simplify your search. Plus, it will save you time and money because you will be eliminating the travel expenses for an on-site hunting process.
For example, our website, spainhomes.com, is a target-oriented website that allows users to operate with filters. You can customize your research by location, types of properties, the number of bedrooms, sales prices, and more. In this way, it will be easier to find the best real estate that suits your needs.
However, all the property options at the tip of your fingers may confuse your decision mechanism. Sometimes it can be hard to determine which one is the best on your own, especially in a totally unfamiliar market.
Working with a real estate agent in Spain may come in handy at this point. A local property expert will have full knowledge of the constantly expanding market. Knowing the most promising and best locations, average prices, and upcoming projects is essential while buying property.
These details bear significant importance when deciding especially for big-budget investments. In this way, you will be able to invest your life’s savings into something that may provide you with a quality lifestyle and equity in the long term.
How to Finance Your Property Investment in Spain as an Expat?
Here is the answer to this million-dollar question: Expats can freely apply for a Mortgage in Spain to buy property.
Knowing your finance channels would help a lot if you are eager for a property investment. Let’s say you are an expat with a stable income. You have saved up the downpayment for your property purchase in Spain but want to pay the rest by bank credit.
Good news! You can easily apply for a mortgage in Spain. There is no restriction on mortgage applications for foreigners. However, being able to apply for a mortgage won’t guarantee instant approval but gives you a chance.
Spain Homes ® offers a remote mortgage application system called TeleMortgage ®. We cooperate with reliable partners to simplify the application system for expats. Thus, you won’t have to travel to Spain to apply for a mortgage.
Moreover, the Spanish government can offer incentives to foreign investors from time to time. It may be related to the property tax in Spain, mortgage interest rates, or any other financial situation. Following the latest developments announced by the local municipalities or the government would be beneficial when buying a property.
It is also possible to use your crypto assets for your property purchases. You can make use of your BTC, ETH, USDC, or USDT to complete the payment of the sales price of your new home in Spain.
Pro Tip: Be aware of the additional costs of buying transactions. While buying property in Spain costs such as stamp duty, notary fees, mortgage costs or land registry billings should be calculated beforehand.
How Long Does It Take to Buy a Real Estate in Spain for Expats?
The purchasing process from the viewing tour to getting your title deed takes about 3-4 weeks. The period may differ depending on a few factors such as the construction phase or financing channels. But eventually, it takes less than a month to get the keys to your new home in Spain.
We know that you are eager to start living your best life in Spain as soon as possible. For that, it is essential to follow each step carefully.
That is why we offer extensive services such as TeleProperty ®, TeleMortgage ®, and managing the purchasing process on your behalf with power of attorney. These services are provided to you to shorten the everlasting legal process and finalize the procedures efficiently.
The Next Step: Privileges of Buying a Real Estate in Spain
The right to apply for residency, Golden Visa and citizenship are the benefits that come along with your new property purchase in Spain.
Living in Spain is a dream come true for many people. By investing in an immovable asset in Spain, you are also investing in your new life by purchasing real estate in Spain. Take into consideration of the new opportunities that come with your new investment.
A foreigner can buy a plot, apartment, or commercial property for non-residency purposes. However, buying real estate brings a right to apply for residency within. Foreign property owners should apply for a residence permit to stay in Spain for more than 90 days.
A residence permit only allows expats to reside in Spain. There is another program called Golden Visa, which can be applied by foreigners who buy a minimum of 500.000 € worth of real estate in Spain. Golden Visa provides visa-free travel between Schengen countries, the ability to work in Spain, and free education and healthcare services.
We are a professional real estate agency, providing extensive property purchasing services with our experienced team members. It is simple, quick, and easy to buy your dream home in Spain with our extensive services. Contact us today to start living your best life under the sun!