Investing In Spain Holiday Villa

Spain happens to be an excellent choice for investing in offshore properties. Spanish property market is quite fertile and credit goes to rich culture, superb climate, easy access to and from other European Union countries, low interest rates and easy financing options.

Buying and investing in a Spanish holiday villa is even more fruitful not only because it can give a high premium but also because it is possible to draw a good rental income out of it. Spain is truly a thriving tourist industry and investing in Spain holiday villas is a great financial decision.

Before you actually go ahead and buy a Spanish villa make sure that you possess a passport and its copies, NIE Number, and earnings verification documents. Make sure that before you take the final decision, you spend a considerable amount of time in researching Spanish property market and Spain. Make a list of prime locations that you think are suitable for property investments and investigate about the property prices in those areas.

Another important decision that’s you must take is the fact whether you want to buy a resale property, new property or and off-plan property. You will have to consider other factors also such as transport access, distance from airport and railway station and availability of local entities such as shops and medical facilities. Other factors such as future development plans of neighborhood should also be considered. You also have to keep in mind the orientation of any nearby existing properties.

After you have decided about where and what to invest in, you have to consider other options such as financial aspects. Your budget should fall between 10 to 12% of the total purchase price in order to cover taxes and other fees associated with property purchase. It is possible to get a low-interest mortgage that can cover up to 70% of the total price from a Spanish bank.

For making things easy, you can contact a qualified estate agent. It is better, if the estate agent you choose is a member of API (Agents de la Protruded Inmobiliara) or GIPES (Gestores Inmobiliaries). Make sure that you have visit the property personally before purchasing it.

You can also hire a good English speaking Spanish lawyer so that you can get him to do all the legal undertakings concerning planning permission, ownership, legal description and boundaries of the property. Sign the sales contract in presence of a lawyer and make it a deposit payment of 10% of that amount.

Before making the final payment, make sure that you sign the final sales document and all this should be done in presence of a public notary you also need to pay relevant property tax and weight for the public notary to forward the Title Deed and converted into a registered document. After the process is over, you finally become the official owner of the property.

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