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Who is this the right market for?
Spain is a popular place to move permanently, for people who find themselves in the free, southern culture. A common choice is also the 6/6 model, i.e. half a year in Poland and half a year on the sunny coast. If you do not want to take such a serious step, a second home, holiday home or summer estate may be a good solution. Investors, in turn, appreciate the well-developed tourism in this region, which guarantees high occupancy of apartments for rent.
How much does a property in Spain cost?
Real estate prices in Spain are similar to the Poznań, Warsaw or Tricity markets, which makes them a real alternative for Polish buyers. A one-room apartment can be purchased for as little as EUR 94,500, and a small villa for EUR 125,000. However, transaction-related costs should be taken into account. These are much higher than standard in Poland. You need to be prepared for a one-time expense of approximately 14% of the property value. This includes tax, notary fee, entry in the land and mortgage register, etc.
What does the purchasing process look like?
The process of purchasing real estate in Spain is similar to purchasing in Poland. I.e. a deposit must be paid to secure both parties, there is an equivalent of a preliminary and final agreement, and the transaction takes place at a notary. What might surprise an investor? You need to have a NIE number, i.e. a tax identification number, and a bank account. It is good to have a trusted professional help you complete the formalities.
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