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Spain has become one of the favourite destinations for many foreigners who find our climate, our gastronomy and our beaches a real paradise in which to enjoy their weeks of holidays.

To this we must add that, since teleworking has become commonplace in many companies, there are many people who have the freedom to travel to our country to spend long periods of time or even to consider taking up residence.

Believe us when we tell you that there are many clients of MAM Solicitors who, after a first visit to Spain, have decided firstly to purchase a property and shortly after have decided to move to Spain to, for example, enjoy the Mediterranean lifestyle after a well-deserved retirement.

If this is your case, we recommend you to read our blog article with some considerations that can help you to make the decision and understand the different procedures necessary to be able to reside in our country.

We hope it helps you to make your decision!

 

Is it a good time to buy or rent a property after the summer?

This is undoubtedly one of the million dollar questions! First of all, we must say that, although the price of housing has increased significantly in Spain, it is often more affordable for many foreigners.  However, we must take into account that many Spanish banks require a higher deposit or tougher conditions than nationals when applying for a mortgage, so it is a cost that we must also take into account.

It is also important to know or have an estimate of the taxes and fees that must be paid in Spain in a buying and selling process and what the administrative formalities are that follow the signing of the contract.

At MAM Solicitors, due to the language barrier and the difficulty of our administrative system, we always recommend that you have the advice of a specialised professional team. We must also bear in mind that many of the taxes or formalities depend or vary depending on each local administration, so it is necessary that professionals have a deep knowledge of both the sector and the local legislation to help clients in the best way possible.

Returning to buying or renting a property in Spain after the summer, it is true that after the summer it is possible to find a greater offer of properties in beach locations that are put up for sale once the owners have let this period pass, either to enjoy it themselves or to have their property rented out during the summer.

On the other hand, in the case of not wanting to buy, but to rent, the tendency is usually the same, being able to find properties available for rent for the whole year.

So, we can say that the end of the summer is a good time to start looking for the property that most interests us.

 

Where is the best area to buy a residence and move to Spain?

Spain is a country with a surprising diversity. Although, in general, it has a very attractive climate, the geography and climatology of the North of Spain have nothing to do with the South of the country or the Mediterranean area.

What we can say with absolute certainty is that the latter is the area of choice for many foreign investors looking to acquire a property both for their own enjoyment or perhaps as an investment to rent out and obtain an economic return.

According to the data we have at the end of last year, and which we share with you, more than 30% of property purchases in the Mediterranean area were made by foreigners.

At MAM Solicitors we have offices in the coastal areas of Alicante, Murcia and Almeria from which we provide a service to all our clients and we take responsibility, through a Power of Attorney, for all the necessary steps to start the purchase of your new property in Spain.

 

Are there any legal requirements to be able to buy a property in Spain as a foreigner?

When a foreigner wants to buy a property in Spain he/she needs to obtain the NIE, i.e. the Foreigner Identification Number (Número de Identificación de Extranjero).

Therefore, the NIE is the tax identification number assigned by the Spanish Ministry of the Interior to any foreign person who owns property or interests in Spain. It serves as an identity document, in the same way that Spaniards have our identity card.

To obtain this number, the owner must present the application in person either at the Police Station where the property is located or at the nearest Spanish Consulate.

It is worth remembering at this point that the Spanish Government has recently abolished the Golden Visa whereby, when a foreigner invested in property in Spain for more than €500,000, they could obtain this visa including their residence permit in Spain.

 

MAM Solicitors: more than 30 years helping our clients to enjoy their residence and stay in Spain.

MAM Solicitor’s main resource is the professional skills of our legal and administrative staff. Being aware of the difficulties clients face when presented with an unfamiliar legal system (which can be further complicated by the language barrier), MAM Solicitors has assembled a team of staff who are fluent in English, French, Norwegian and Dutch and have extensive knowledge of all aspects of real estate law.

In this respect, we believe that it is important to plan and organise the transaction legally for a successful sale. We do this with all our clients.

MAM Solicitors has proven in over 30 years of experience to be one of the most trusted law firms in Spain by our clients.

Would you like to find out for yourselves?

Don’t hesitate to contact us and enjoy the peace of mind that your trusted law firm in Spain will give you.

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