All Forum Posts by: Robert Edwards

Before the crash in 2008, many speculators bought off-plan, preferably prior to construction. Stage payments kicked-in based on architect's certificates during the construction process. Naturally prices increased, sometimes as much as 30%+ during construction. The buyers then re-sold their option, taking their profit, without the need to complete before a notary thus saving legal expenses.

This is now happening again in Spain. However, if buying new construction you need to pay 10% VAT, and developers will most likely charge you the proportionate 10% vat on each stage payment. But if a construction project is scheduled to take, shall we say 2-3 years, and with present market conditions, I should imagine prices will rise favourably during this time. You can then sell-on the property prior to completion.

Prominent builders/promotors will also offer bank-guaranteed stage payments thus protecting your investment in the event of breach of contract. Tips: Make sure that your contract allows you to sell-on before completion. Use a Spanish lawyer. And shop around before you decide.

Hi Andrew

The Spanish courts have beefed up legislation recently to counter bad or non-paying tenants. The laws are very clear for both the landlord and the tenant. However, you can only evict a tenant for whatever reason with a court order. This means going through the legal system which can take weeks or months to achieve. You can also take out insurance in Spain to protect yourselg against those who fall behind wih their rent. 

If you go to my profile, you'll see a web link to my site and I have published varios articles on the subject on our blog.

Regards

Robert

Spain received last year in 2016 over 70M tourists for the whole country.

Hi David

I own and run a property portal covering all of Spain. In Malaga province alone we have over 7,000 properties listed for sale. Check my profile for our page link.

Good luck in your search!

Kind regards

Robert

LPG SPAIN

Hi Elena

The Spanish market is definately on the move at present. How fast things move does of course depend on where you choose to invest. The coastlines are as ever popular due to the foreign investment, such as the Costa del Sol, Levante and Costa Blanca. However, Bilbao is probably a good bet too. Barcelona is booming and Madrid isn't far behind. So in general, Spain is in favour, once again. Check out my profile and you'll see a link to our property portal.

All the best and good luck in your search!

Robert

Hi Ben

You can contact me via email which is available in my profile. Look forward to hearing from you.

Kind regards

Robert Edwards

Hi Everyone

I live on the Costa del Sol in the south of Spain which of course includes Marbella, Malaga, Nerja, etc. I have over 30 years+ direct real estate experience in Spain. Please contact me if I can be of any assistance.

Kind regards

Robert Edwards

Hi Jacob

You can still apply for mortgage finance in Spain even as a non-resident. The fact that your wife is Spanish will naturally help. In the end, it comes down to your financial status, income, etc. However, do try several banks as you'll probably get a differemt answer from each!

The days of fix&flip in Spain were back in the late nineties, prior to Spain entering the Euro and the period that followed up until the crash in 2008. Since then, the immediate post-boom years created negative equity in Spanish property. In the last 2 -3 years the market has recovered significantly but nothing like the period prior to 2008. Current growth in Spain would be considered ‘steady’. In other words, it’s a good time to buy but with a medium to long term strategy.

The euribor (upon which Spanish mortgages are based) is at an all-time low so finance is freely available at competitive rates.

In terms of ‘where’ to buy, both Madrid and Barcelona are attracting buyers in numbers hence prices are rising. In coastal regions, the Costa del Sol (in the south) along with the Costa Blanca (in the east of the country), together with both the Balearic and Canary Islands, are also increasing in price.

Another consideration is that of the Brexit situation. Many British expats are very nervous of the situation over the next two years, especially as today Teresa May has officially activated Article 50, Britain’s request to leave the European Union. Already, there are signs of British expats wishing to sell their homes. One advantage for them is that as the exchange rates between sterling and the Euro favours them buying Pounds at a much lower rate than prior to the Brexit referendum of last year, they may be prepared to accept a lower market price in order to sell sooner. In other words, there are always ‘opportunities’ in the market, you have to seek them out.

Actually, the south of Spain (Malaga, Marbella - Costa del Sol) is in fact more expensive to buy a property than the Costa Blanca (Orihuela. Torrevieja, etc.). Metre for metre, you will get better value for money. So why do people come south? It's personal preference. I have lived in Spain for over 40 years and have travelled extensively. I simply prefer the Costa del Sol. I find it more refined. And it's certainly not down to those who simply retire as both coastlines can boast a large population in that repect.