Frequently Asked Questions

Q - I'm really not sure where I want to go or what I want to buy yet?

A - Buying a property overseas is a really big decision but we understand the importance of a purchase like this and will help you all the way through the process of searching for the perfect place. It might help to ask yourself these questions about Choosing a Property.

Q - Is Spanish property still a good investment?

A - In 2004, average property prices rose by 21%. In 2005 the rise was 12% and there is an expectation that price will continue to rise at these level for the foreseeable future. See our Property Investment page.

Q - Can I work in Spain?

A - Yes it’s a member of the EU

Q - Will it be easy to rent it out?

A - Location, location, location is all important. Tell us that you want to rent the property out and we will take you to the places that offer the greatest rental potential. Many of the Developers manage rental schemes on behalf of their property owners and achieve good results. In addition we can tell you about lots of inexpensive web sites where you can advertise your property, like www.ownersdirect.co.uk

Q - What is the difference between off plan, key ready and resale?

A - Off plan means when you are buying the property from the architects drawings. Key Ready means that the property is brand new and ready for you to move in. Resale is a second hand property and can be old or brand new. See our Property types page.

Q - I’m nervous about buying off plan

A - All of the Developers that we work with are reputable and established and there is legislation in Spain to protect you and all of the developers that we deal with are required by law to have Bank Guarantees or Insurance Policies that ensure reimbursement of money that you have paid, plus interest, in the event of bankruptcy prior to completion.

Q - How do I get a National Identification Number?

A - You can get one from the Spanish Embassy in London but it takes 3 or 4 months to arrive. Alternatively it can be obtained in one day when you are in Spain – we will organise this for you.

Q - I’ve never bought a property abroad before, how does the process work?

A - You’ll probably be surprised by how straightforward everything is. The purchase process is often much quicker than in the UK and communication is far more open. You don’t have to worry about the language barrier because everything will be translated for you. See our step by step account of the process.

Q - Where can I find a good Spanish Property Lawyer?

A - We strongly recommend that you use a lawyer with experience of buying Spanish property - preferably an English speaking Spanish Lawyer who is not representing the Vendor - this is something we can help with if you would like. See our Legal Advice page.

Q - Does the paperwork have to be done in Spain? – it’s going to be difficult for me to come over again next month

A - That’s not a problem – you can give your lawyer Power of Attorney so they can sign of your behalf. See our Legal Advice page.

Q - How do I get a mortgage for a property in Spain?

A - In much the same way that you would in the UK. Rose Financial Services will guide you through the paperwork and organize the survey for you.

Q - Is it cheaper for me to go direct to the builder?

A - It makes no difference to the price of the property whether you use a company like Spanish Properties and more Ltd to work for you or you go direct to the builder – the price is the price is the price! All of the Developers in Spain work the same way – they have one price list and everyone has access to it whether they go direct or not. Some Developers won't deal direct with the public because they find it easier to work through agents.

Q - Can I make an offer below the asking price

A - The prices for off plan and new property are non-negotiable and the Developer will not budge from the price shown on his price list.
Property owned by individuals is a bit different. Generally speaking houses are priced realistically in accordance with current market rates however the Vendors desire to sell their property may change over time and could be influenced by an event in their own circumstances. We will have a pretty good idea about the chances of an offer being considered and there’s no harm in asking the question!

Q - Why can’t I reserve a property without paying a deposit?

A - The reservation deposit fixes the price immediately and shows the Vendor that you are serious about purchasing the property – it gives them confidence to take the property off the market, which means that nobody else can come along and bid more for the property that you want. See our Buying in Spain page.

Q - Other than the cost of the property – what other costs do I need to think about?

A - On top of the actual purchase price you need to add about another 10% to cover IVA @ 7% (Spanish Government tax) and 3% to cover legal fees, notary fees and other costs associated with the purchase. If you are taking out a mortgage then there may be a mortgage arrangement fee (check with your lender).
Annual outgoings vary according to the type of property. For a rough idea of what things cost see our page about the annual cost of owning a property in Spain.

Q - How does the cost of living in Spain compare with the UK?

A - Definitely cheaper in Spain – some would say by about 2/3rds

Q - What about Insurance?

A - Insurance is always a good idea and we would urge you to approach it in the same way as you would in the UK. Buildings insurance is compulsory if you are taking out a mortgage. New development properties usually come with a ten-year buildings guarantee against structural failure by law and it’s something your lawyer will check. If you need Buildings or Contents insurance you can get a free quote from Intrasure.

Q - What’s the best way to transfer Sterling to Euros?

A - You can transfer money via your regular bank but this will be more expensive than using a specialist currency transfer company who are used to transferring money cross border at the right time to achieve the best exchange rates for you. We suggest Currencies Direct because they consistently appear at the top of national league tables published in the daily papers.

Q - Can my UK State Pension be paid to my Spanish bank account?

A - Yes

Q - Is there a good national healthcare system in Spain?

A - Yes. EU citizens over the age of retirement get if free of charge.

Q - What is the standard of education?

A - Education is compulsory from the age of 6 to 16 in Spain and standards are considered to be higher than in the UK and many other European countries. See our Education page.

Q - May my pets come to Spain?

A - The Pet Travel Scheme (PETS), cats and dogs resident in the UK are allowed to visit Spain and return to the UK, without quarantine, provided that certain conditions are met. See our Pets page.

Q - Can I take my car to Spain

A - Yes, if you have been the owner for 6 months or more. Speak to the DVLA and get an export license if you are planning to keep it in Spain permanently and if you take up residency you will have to get Spanish number plates and register the car in Spain.