Apartments and flats for sale in Spain

Apartments for sale in Spain

Flats for sale in Spain are of interest to foreigners who want to move to Europe, earn a stable rental income, send their children to study at a local university without having to look for housing and make a profit from resale. This is the most sought-after type of real estate with a quick payback, extremely simple maintenance (with the help of a management company) and a wide range of prices to buy a flat in Spain.

The average transaction amount is €250,000, but the market can offer various properties for €50,000–150,000, penthouses and duplexes for €5–10 million and more expensive. You set the budget and requirements yourself, and our website will help you decide on the best offer from a developer or real estate agency.

You can find an affordable or luxury property in Spain in the region based on your goal:

• Housing units in the central part of Barcelona or Madrid and in the seaside resorts of the Costa Blanca are suitable for rent;
• The best options for foreigners who want to obtain a residence permit and move to a country with a warm climate and a stable economy are Torrevieja and other cities of the province of Alicante;
• It makes sense to buy apartments in Spain in Valencia, the Canary Islands and Catalonia to find a second home and spend a pleasant winter holiday;
• Real estate in Malaga and Estepona is perfect for long-term investments, as there are numerous premium off-plan complexes with yacht clubs, swimming pools, barbecue areas, gardens, fitness centres and other amenities.

We recommend paying close attention to the social infrastructure (shops, restaurants, bars, banks, transport interchanges and metro) and nearby attractions. The development of the location is the main factor in increasing or decreasing prices during the transaction, as well as the cost of rent and your income. In addition, the important points are:

• The distance to the airport and the sea coast;
• The prestige of the community;
• The floor and the total number of floors in the building;
• Stunning views from the windows;
• A balcony and a terrace;
• A year of construction;
• The size of the hallway: Spanish apartments on the secondary market do not have such areas. This means that you will have to store your belongings in one of the rooms;
• The ratio of the total size and area of rooms: the living room is spacious, and the bedrooms are small in a typical property. If you want to get comfortable bedrooms, it is better to focus on the options in new buildings;
• The number and layout of bathrooms: if there are two bathrooms, one will have a shower cabin, and the other will have a bathtub.

The procedure for transferring the rights to housing units for foreigners is almost the same as for locals. The main difference is to obtain a special NIE. The tax is €10.

First, the investor opens a bank account and books the property, then signs a preliminary contact and makes a deposit of at least 10% of the value of an apartment for sale in Spain, and pays the full amount after signing the main agreement. The process take a maximum of 3 months, after which it is possible to apply for a residence permit (the period for reviewing documents lasts from 20 working days). When investing in several properties, you need to legally confirm each transaction and check that the total amount of investments is at least €500,000.

Reasons for investing in an apartment in Spain

The advantages of buying apartments in Spain are obvious—it is an opportunity to obtain resident status for yourself and your family members in a few months, a comfortable climate (over 300 sunny days a year on the Mediterranean coast and an average temperature of +20–22 °C), high GDP, rich cultural life and developed infrastructure.

Additionally, the price of apartments in Spain for investment is growing by 1–3% annually (including taxes. The figure is 5–6% without them). There are sharp jumps in value. Therefore, if you decide to resell your home, you have a chance to earn money.

Investors and businessmen receive income through renting out their properties:

• The payback period is slightly less than 8 years if the cost of the flat is €200,000, and the annual income is 12.7%;
• You can return the starting amount for 11 years with an annual income of 9.1% by investing €280,000–300,000.

The more popular the location is and the more options the housing unit has (modern finishes, furniture, 24/7 security, coast view, video intercom, etc.), the shorter the payback period is due to high rents. You can receive from €600 to €750 per month from the tenants of your 2-bedroom apartment, and you can rent out your 3-bedroom home for €950–€1,250. The average rental rate per 1 m² is €12.

The most promising properties are:

• Studios and 1- and 2-bedroom properties in new off-plan projects and finished houses;
• Seaside accommodation, especially in Malaga and Murcia;
• Flats in quiet suburbs and gated communities;
• Real estate near universities and the downtown.

When concluding a deal, take into account the cost of taxes, which may include stamp duty (from 0.5% to 1.5%) and 10% VAT when buying in a new building or a real estate transfer tax of 6–9% if you have chosen housing on the secondary market. You will have to pay a capital increase tax (19–20%) in both cases.

Buying apartments in Spain

The process of purchasing housing by foreigners has been debugged for a long time, so investors do not have to waste time and effort. The main task for future residents is to find the right home, and the Global Properties will help them with this.

You will see the current prices for various housing units in the country, in a database indicating the number of bedrooms and bathrooms, desired location, area, view from the window and other parameters. You can pick up housing options to obtain a residence permit and have a closer look at villas in Spain if you want to make several successful investments.

The more initial features you choose, the more accurately the aggregator will show you ads from developers and agencies, and detailed descriptions and photos will help you make the final decision.

At the final stage, you will need to write a personal message to the seller or contact him by phone. Investing in an apartment in Spain is a beneficial way that will ensure the well-being of you and your family members. It is high time to start searching a dream home and make a good deal!