Buying a property in sunny spain - tips?

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becscar
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Buying a property in sunny spain - tips?

Postby becscar » Fri Apr 05, 2019 5:15 pm

Hi 

We are looking to buy a 2nd property in Spain, thinking Barcelona, Sitges, Valencia.  It would also be an Air BnB let, around the £250k mark, we would get a mortgage.

Has anyone done this?  We are going out in September to do a 'fam trip' so any advice would be amazing.

Thanks 
Becky
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pkmang
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Re: Buying a property in sunny spain - tips?

Postby pkmang » Tue Apr 09, 2019 7:14 am

I don't have a house in Spain, but I've been thinking about it. From my little knowledge, you need to be careful if you plan to AirBNB it out. Spain passed a rentals law to regulate short term holiday lets. This is either to protect housing for lower paid workers so the supply isn't taken up by holiday rentals, or to protect the hotel industry depending on who you are listening to. Spain is organised semi-autonomously so the details are up to each region.

Barcelona seems very anti tourist. Costa del sol still seems ok. I've been watching Canaries, there it seems like almost impossible to get a license and up to 300k fine for illegal short term letting.
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egc1973
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Re: Buying a property in sunny spain - tips?

Postby egc1973 » Wed Apr 10, 2019 10:01 pm

Hi Becky

I´m from Barcelona.I bought my flat a long time ago, from what I remember it goes region by region the amount of tax you pay to regional government, council tax to the village/city etc . You need to add service charge for the flat if it´s in a block of flats, service charge for a garage if the flat has a parking space, etc etc

Barcelona and Sitges attract lots of tourists and city workers internationally, Valencia also attracts national tourism. Prices change depending on the neighbourhood and square metres you buy and if it´s a very touristic area or for local people.
Airbnb is regulated and in some buildings the community of people living there agree against it and you may not be able to rent your flat to tourists as it will go against the community.

The contract agreement works different to UK, when you make a deal and place a deposit in advance they must sell the property to you,if they dont then they must return x 2 the deposit.  It´s called "contrato de arras".
Get the advice of  property managers services or lawyers , quantity surveyors etc
They aren´t as expensive as in UK.

Good luck, send me a message if you want to know more or need help to find info about neighbourhoods etc.
 
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becscar
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Re: Buying a property in sunny spain - tips?

Postby becscar » Thu Apr 11, 2019 2:21 pm

Thank you so much for replying, I may well get back in touch.
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egc1973
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Re: Buying a property in sunny spain - tips?

Postby egc1973 » Thu Apr 11, 2019 10:03 pm

You're welcome, this website is useful to start checking flats/houses etc
www.idealista.com
then select by province (Barcelona /Valencia /Islas Canarias)
 
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juliantenniscoach
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Re: Buying a property in sunny spain - tips?

Postby juliantenniscoach » Fri Apr 12, 2019 10:20 am

Barcelona is anti AirBnB not anti tourist.  The AirBnB secondary market is pushing purchase prices up beyond the reach of many locals (sounds familiar) and then adds dramatically to the tourist traffic to an unsustainable point.  The region has passed laws against the AirBnB model but I understand they are in the Appeals stage.  See Becky's comments above.

Property buying is really easy but again as Becky points out, be sure you're sure before you pay your deposit.  In effect there's no getting it back if you change your mind.  Obviously consult a lawyer and remember you will need a cash sum to pay the Notary's charge, which is a bit like Stamp duty.  Lastly depending on your age, check your Capital Gains liability, and check the current tax situation for non-EU owners (assuming Brexit goes through in some form).
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NYVANLON
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Re: Buying a property in sunny spain - tips?

Postby NYVANLON » Mon Apr 15, 2019 2:46 pm

Hi- I have a home (for sale as I’ve moved abroad) in Southern Spain and have a friend with 2 investment flats in Barcelona (which she tried to AirBnB but failed as that region is more difficult to do so).

Please PM me if you want to discuss in more detail. I would stay away from Barcelona and Sitges if you want to go the AirBnB route as getting the tourism license is a nightmare there.
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