BUYING A HOUSE IN SPAIN WITH MORTGAGE? – NEW REGULATIONS – ASK FOR A POA TO YOUR LAWYER
For many years now we have been experiencing a series of legislative reforms, and essential changes in the way in which the process of obtaining mortgages in Spain has been developing historically. Spanish banks have been subjected to great stress when it comes to legally confirming the positions and conditions in which they have been […]
LIMITATIONS IN THE USE OF URBAN PROPERTIES – PURCHASE OF CONSOLIDATED AND NOT CONSOLIDATED LAND
In previous reports, we were explaining the differences between URBAN LAND and RUSTIC LAND. In relation to URBAN LAND, we were explaining that this is a land in which it is authorized to build with determinate specifications contained in the “Development Plans” of the city or area (Plan General de Ordenación Urbana), or in specific areas […]
PURCHASE OF PROPERTIES IN SPAIN. IMPORTANCE OF CONFIRMING MARRIAGE STATUS
If you buy a property in Spain, being married in some countries such as France, Belgium, Italy, Germany, Sweden, Canada, the United States, Latin America, etc., it is important to confirm the marriage status and the marriage system. Normally, there are two marriage systems: COMMUNITY OF ASSETS: France, Germany, Belgium, Netherlands, Sweden, Switzerland, Denmark, Norway, […]
HOLIDAY RENTALS. VALENCIA REGION. REGISTRATION PROCESS AND TAXES
Usually, there are 3 ways to rent a property: Short term rentals: This type of rent is for tourists who wish to use the property for tourism/holiday. This type of rentals must be registered in a special registry in Valencia, and one of the requirements is the certificate of habitation. Short term of stay: less […]
HOW TO SET UP B&B – CAMPING – HOTEL IN RUSTIC LAND AREAS
Rural land is the one in which only farming, forest and nature activity may be developed. So, purely, touristic activity is not approved. So, when a Casa Rural, or B&B, or Camping is projected in this land it is required to get the special approval at the local and regional administration where specifically allow to […]
TAX OFFICE INSPECTIONS IN SPAIN – BANKS WILL INFORM ON CLIENTS ACCOUNTS
Spanish Tax office will force Banks to inform about fiscal information from clients We have been informing for long time to friends and clients that the Spanish Tax office was being increasing to control fiscal and finance situation of citizens in Spain. A high number of our foreign clients have been inspected from the Spanish […]
2018 – A GOOD YEAR TO BUY PROPERTIES IN SPAIN?
Prospects for the real estate market of the year 2018. 2017 was a good year for the real estate market. We are witnessing price increases, increase of new construction and buildings, and growth of the number of new mortgages (favoured by of low interest rates – mortgages). Construction sector has increased its contribution to Gross […]
Cancellation process of Spanish mortgages
There is a popular misconception regarding the process of cancelation of Spanish mortgages. In general is understood that when the current mortgage amount is paid, then the debt is canceled. And this is true. But, owners of Spanish properties should remember that, when they bought their properties, and part of the price was paid with […]
DO I HAVE TO PAY TAXES IN THE PURCHASE OF FURNITURE FROM A PARTICULAR?
In Spain, unlike other countries, the sale of personal furniture between particulars pays taxes. There is widespread confusion in the real estate purchase system in Spain where it is believed that the sale of furniture between particulars does not pay taxes. That is why, sometimes, we fall into the mistake of separating the price of the sale of […]
DO I NEED TO OPEN A BANK ACCOUNT WHEN BUYING IN SPAIN?
One of the most important points when buying a property in Spain is to open a bank account in Spain. Is this obligatory?. Before or later, is necessary to open a bank account in Spain if you decided to purchase a Spanish property. It will help you to pay and settle payments for utilities, local […]
