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Older Spanish Properties Over New

The Advantages Of Buying Older Spanish Properties Over New

July 16, 2019/in Buying /by Penny

Every year, thousands of people buy properties in Spain. But, while many opt for new builds, there are several gigantic reasons to go with an older property. Spain, as a country, is chock full of heritage and purchasing an older property that portrays that heritage and character is one of the deciding factors for many when it comes to buying property in Spain.

Older Spanish properties offer a host of advantages over their newer counterparts, improving the quality of life of those who own them. In this article, we will briefly run through just some of the top reasons why you should consider old over new.

Advantage #1: You’ll Pay Less

Older homes in Spain cost less than newer builds of a similar size and quality. The reasons for this are complicated. But it mainly comes down to the fact that older builds have had more time to depreciate compared to their newer counterparts.

Think about it this way: if you had a choice between two houses that were identical in every way except their age, which would you choose (if both cost the same)? You may consider the newer home because you assume that you would pay less on maintenance over the years.

Older houses are usually considerably cheaper than newer builds for this reason. However, despite the fact that sellers of older properties may have to compensate buyers for the fact that maintenance costs might be higher, in reality, this isn’t always true.

In most situations, older houses won’t need any more maintenance than newer ones. It’s only the perception of buyers in general which pushes the price down, meaning that there are bargains to be had out there.

Advantage #2: They Have More Character

Traditional properties in Spain ooze character. Older Spanish homes have a variety of features that make them instantly identifiable and nothing at all like their modern counterparts.

The first feature is stucco, a type of plaster used all over the walls of traditional Spanish buildings. Many rustic properties have thick, artistically-applied stucco that looks incredible.

The second main feature of traditional Spanish properties is prominent arches. Spanish architects of the past used arches in multiple facets of building design, including walkways, doors, and windows. Rounded arches give traditional rustic Spanish properties a distinct feel, reminiscent of their North African influence.

Older Spanish homes also like to juxtapose light stucco walls against the dark hardwood floor and ceiling features. You’ll also often see older homes incorporating whimsical wooden architectural elements and dark wood furniture made of walnut and ebony.

Advantage #3: They Are More Stylish

Modern Spanish builds tend, in general, to lack artistic flourishes. While there is an attempt to emulate the styles of old, there’s a general sense among buyers that they don’t quite get it right.

Part of the problem is that people these days want to use their homes to have radically different floor plans from those prevalent in the past. Open-plan kitchens, large, spacious bedrooms, and bathrooms all affect the outward appearance of the building, making it more blocky and less amenable to traditional features. It is still possible, of course, but you’ll pay a premium.

Older homes, however, come with style in their DNA. Almost every surviving example of an older property in Spain has some kind of artistic flourish that makes it unique. Spanish homes were never built on the massive scale that they are today. Each property was a project unto itself, reflecting the style and personality of the original architect or owners.

When you buy an older property, you get a variety of design flourishes that regulations and building objectives make impossible on today’s newer builds.

Advantages #4: You’ll Pay Less Tax

When you buy a new property in Spain, you have to pay two taxes: VAT and Spanish stamp duty. Currently, VAT in Spain on residential property is 10 percent (and 21 percent on properties with commercial potential). If you’re buying a new home in the Canaries, you’ll pay slightly less: 4.5 percent. Stamp duty is one percent of the total purchase price, but can sometimes vary from region to region.

Combined, these taxes make it quite expensive for buyers to buy new properties in Spain. However, the tax implications for older homes are much less onerous. The Spanish tax authorities consider old houses “resale properties.” A resale property is one that is being sold for a second time or more and is not bought from a developer. The Spanish government does not charge VAT on resale homes saving buyers money.

Unfortunately, there are still taxes to pay, but they are likely to be less than you’d pay on a new build. The Spanish transfer tax is a tax paid by the buyer of an old property before the completion of the sale. The general rate of this tax is 7 percent, which is considerably lower than that of a new build.

Advantage #5: You’ll Have More Space

Traditional Spanish homes built decades or even centuries ago tended to have much larger lot sizes. The reason for this was simple: there was a lot more space to build back then that there is now. More than 40 million people live in Spain today and there is tremendous overseas demand for housing.

Spanish developers haven’t helped either. Homebuilding companies crammed new builts together to reduce the costs of servicing each unit and keeping the price down, reducing plot size further. This has been known to lead to other issues like neighbour disputes and people wondering “do you have to declare neighbour disputes“.

Buyers are often surprised to discover just how inexpensive the land that comes with many traditional Spanish properties is. The value tends to depend on the type of development that is allowed. In Spain, development rules are strict, meaning that the majority of residential land is worthless, at least from a commercial perspective.

For home buyers like you, however, the advantages are tremendous. You get hectares of space at an affordable price that you and your family can enjoy. What could be better than that?

For more information on traditional Spanish properties and what is available in the beautiful area of Mijas, get in touch with us today on (+34) 95 247 7854 or email sales@propertyinmijas.com.

Why Now Is A Good Time To Buy Your Dream Spanish Property

August 23, 2018/0 Comments/in Buying /by Penny

 

Spain has always been one of the most popular holiday destinations for those looking to travel outside of the UK, and many people even have a dream of purchasing Spanish property eventually, too.

Hundreds of people choose to relocate to Spain permanently each year. Over 300,000 Brits currently live in Spain, with one-third of them retirees. Brexit certainly hasn’t put people off buying, and 2018 is actually a great time to buy your dream Spanish property.

The process of moving within Europe is still easy to complete, and there are many other benefits, so if you’re thinking of going for it, now is a good time to take the leap.

Why should you consider buying your dream Spanish property now? Read on to find out…

Making An Investment

As we mentioned, the property prices in Spain have been recovering since 2008. Property prices fell, on average 30% between 2008 and 2014, but are increasing once again. This means Spain is again a good investment for foreign property buyers. Many of the properties are still good value for money when compared to buying in the UK.

Of course, some areas will make a better investment than others. Areas like Barcelona and Ibiza recovered so quickly that it may be difficult to find a bargain there. However, areas around the Costa del Sol and Mijas, in particular, are now throwing up some deals that just cannot be missed.

The Banks Are Lending Again

It used to be difficult to get a mortgage in Spain back in 2008 when the recession was in full swing. A more relaxed approach is now in place and they are lending once more. Base rates continue to fall in the Eurozone, and they currently sit at an all-time low. Mortgage rates in Spain are now cheaper than ever.

Low Interest Rates

Over the last year, interest rates had been going up. However, recently the current market situation has allowed for lower interest rates. This makes it an ideal time to take advantage of lower monthly payments.

An Improved Standard

Along with market recovery, many have noticed an improved standard of professionalism, as well as quality new developments in Spain. There’s also a good opportunity for renting returns. With a stable Government, economic growth, and safe streets, Spain looks like a smart choice.

People who are already searching for their dream Spanish property can’t deny the superior quality on offer. Buyers are finally receiving a broad choice of top end properties with an incredible range of luxury features, prices, and locations. Just browse through our properties in Mijas page to see some of the bargains on offer!

Right now, Spain is very much a buyers market. It makes a lot of sense to invest in your dream home now, while the market is in the early stages of recovery, and stable. You will benefit longer term from the increase in value and are unlikely to find yourself priced out of the market in the later stages.

You’ll have the opportunity for long-term financial gains when you choose to buy your Spanish property in 2018. For more information on the market conditions, as well as to discuss some of the fantastic properties we have on offer, call us now on (+34) 95 247 78 54.

The Best Banks To Lend When Buying In Spain

April 29, 2018/0 Comments/in Buying /by Penny

 

Buying a property in Spain and living an expat life of relaxation in the Adalucían sunshine is a dream many of us are familiar with. But the realities of getting a Spanish mortgage can be complicated. To make things a little easier when you want to start the next chapter in your life, let’s look at the process and some of the best banks to lend when buying in Spain.

First Things First…

The property market in Spain is on the rise and is being driven, in part, by foreign demand. So while you should always take your time in choosing your ideal property, taking into account all the pros and cons of size, accessibility, location, and any other considerations you have, you’ll have plenty of choice, especially in the Andalucían region.

Once you’ve found the property that ticks all your boxes, it’s advisable to get some important things in place before you get the mortgage ball rolling. Doing these will safeguard you against the worst case scenario, and keep the process as trouble-free as possible:

  • Hire a surveyor to check the property, thereby ensuring you’re getting a good price
  • Contact the local property registry to make sure the property is free of mortgages and debts
  • Contact the Town Planning Dept to make sure the property won’t be affected by any future commercial or private building projects
  • Make sure the former owner is up to date with property and capital gains tax payments, as well as utilities payments and community expenses
  • Hire a lawyer to oversee any deposit payments and to give you legal advice

Your Mortgage

Spanish banks offer mortgages for non-resident buyers of up to 70% loan-to-value, with better deals for loans of 60% or less. All mortgage loans are repayment only with no option for interest only, and, depending on your bank, you’ll need to be between 60 and 75 years old when your loan is completed.

You’ll have a choice of either Variable or Fixed Rate mortgages that work in the same way as UK mortgages. And don’t forget any additional costs, fees and taxes which you’ll need to factor in, such as loan set-up fees, land registry fees, agents fees and VAT.

But before you apply for your mortgage, here are some of the minimum requirement items you’ll need to have in place to start your application:

  • NIE number (the Spanish equivalent to a UK NI number for non-residents)
  • Proof of income
  • A pre-agreement with the vendor
  • Proof the property tax is paid
  • Details of your current debts and mortgages
  • Copies of any other mortgage property deeds you hold
  • Records of any other assets

The Best Banks To Lend When Buying In Spain

Living in a new country with a different language, however familiar you are with it, can be demanding. So the process of getting a mortgage, and all the financial and legal terminology that goes with it, can make things all the more challenging for you, even if you have a fairly good grasp of Spanish already.

The good news for the thousands of English buyers ready to make the move south, is that there are some Spanish banks who are not only competitive mortgage providers, but also set-up to provide their mortgage products and services in English. This can be a huge relief as it makes the paperwork, and the whole process, more understandable and a lot less stressful.

One of the largest banks in Spain, Sabadell, is one of several who are actively seeking, and offering competitive Spanish mortgages to non-residents. With a desire and commitment to increase their presence and appeal to non-Spanish customers, Sabadell are able to conduct your mortgage in English, including the paperwork.

CaixaBank are another of Spain’s largest banks, and another one pushing their competitive non-resident mortgage services. While they offer a 70% loan for UK nationals, they tend to prefer the higher end of the market. But CaixaBank do also have advisors who speak in English for ease, and can accept all paperwork in English as well.

There are plenty of other banks offering non-resident mortgages, but there may be restrictions in their products, or have certain criteria you need to fulfill, which could leave you exasperated. To avoid this, another option is to hire a mortgage broker who will be able to seek out the right mortgage on your behalf, however this service will come with its own additional fees.

But choosing a reputable Spanish lender who is geared to non-resident mortgages could be the easiest start of your new life in Spain.

Puebla Aida As The Ideal ‘Get Away For Winter’

March 21, 2018/0 Comments/in Buying /by Penny

The new BBC One series ‘Get Away For Winter’ recently came filming to Mijas Golf looking for properties to rent in the winter and Puebla Aida was labelled as one of the favourites.

Get Away For Winter From The BBC

For those of you that may not have seen this new series, ‘Get Away For Winter’ follows friends and families as they work out how to fund and find rental properties abroad to escape the poor winter weather in the UK. At the time of writing, the series is still in its first season and has already managed to find many Brits their dream rental property abroad.

The programme goes all over the world, looking at properties from the likes of Florida to Cyprus to India to Spain and in the recent episode, number 15, we were joyed to see that Mijas Golf was their primary focus.

Puebla Aida: The Location Of Choice

In this episode, Keith and Greer, a Scottish couple who wanted to find the perfect rental property in the Costa Del Sol for both them and their dogs, were shown various properties throughout the Mijas area.

Narrated by Gloria Hunniford, the couple were shown 4 different properties and after viewing them all, Puebla Aida came down as one of their favourites based on its charm, space and outstanding views.

How We Can Help

Here at Property In Mijas, we have a complete range of homes such as our selection of one, two and three bed apartments, which are all available to view right here on our website.

All these properties come with access to 4 swimming pools and are based in our charming and beautiful Andalusian village that we built, known as Puebla Aida.

Remember, you can also find out more about the areas by visiting about Puebla Aida and Mijas Village.

It is great to see that the BBC have captured many of the delights of living in Mijas Golf and the surrounding towns through this new series and we look forward to them visiting again soon.

If you would like to find your perfect Spanish property, whether for buying or renting, then make sure you speak with one of our advisors by calling our sales office on (+34) 95 247 78 54.

Images courtesy and copyright of bbc.co.uk

How Will Brexit Affect British Property Owners In Spain?

February 28, 2018/0 Comments/in Buying, Selling /by Penny

With the countdown to Brexit underway, the UK is still a long way off getting the deal it wants with the EU. But among people’s many unanswered questions, one of the biggest, which held particular importance for a large section of Brits living abroad, was how will Brexit affect British property owners in Spain?

 

With the Government and the media focusing on trade deals, divorce bills, and ‘the road ahead’, there are hundreds of questions that no one can yet answer. More detailed, and arguably more complex, issues involving the rights of both UK and EU citizens who live abroad, continue to have a lack of detailed clarity surrounding them.

However, recent first-round negotiations in late 2017, meant outline agreements were reached between the UK and the EU for the nearly 1m UK nationals living permanently in the EU. So what does that mean exactly?

Permanent Residence

With the UK being a member state of the EU, Brits currently have the right to live in Spain and use its healthcare system if they choose to do so. But since the referendum in June ‘16 and for the 18 months thereafter, there followed a gross lack of clarity from the Government on UK citizens’ rights after Brexit.

One of the biggest questions raised continually was whether UK nationals would be able to continue living permanently in the EU at all after Brexit. For those who had already made Spain their home, worry and uncertainty left many feeling that Brexit spelled the end of the road, and they would be left with no choice but to return to the UK.

Thankfully, with those agreements in December ‘17, all the uncertainty was finally put to rest. It now means that those UK nationals with permanent residence in Spain (or any other EU country), will continue to reserve the right to residence and healthcare as before.

So if you plan to move to Spain and become a permanent resident, it would be wise to start the process now. With plenty of others applying to the authorities and only a little over a year until the UK is set to leave the EU, the Brexit clock is ticking.

Second Properties and Holiday Homes

Many Brits are also lucky enough to own or want to own, holiday property in Spain. Whether you’re retired or not, where do you stand? The good news is that owning or buying a holiday property in Spain shouldn’t have much, if any, effect on whether we see Brexit or not.

If you currently own, or are looking to own at any point in the future, it’s unlikely any property rights, taxes, VAT, or duties will change due to the Brexit process. Even if a visa-style entry to Spain should ever be introduced post-Brexit, this certainly wouldn’t apply to holidaymakers looking at a stay of under 3 months. And it’s likely in that scenario that a visa-waiver scheme would be introduced anyway (much like when visiting Turkey or Egypt).

Unknown Certainties

So while the agreements will be of reassurance to all UK nationals living in the EU, there is still progress to be made on the finer details. One of the key issues continues to be whether UK nationals will have the ability to keep certain rights if they move to another EU member state.

While these should be discussed and concluded with the upcoming second round of negotiations, we’ll have to wait further for the final outcome.

The 2017 & 2018 Property Market On Costa Del Sol

December 19, 2017/0 Comments/in Buying, Selling /by Penny

 

2017 Has Been An Extraordinary Year In Puebla Aida

At Property in Mijas, we have been building and selling on the Spanish coast for over 30 years, and in that time have seen the market go up and down very steeply.

The start of 2017 was one of the worst on record for sales. The British represent the largest group in the property market and following the Brexit vote, with the 15% drop of the UK pound against the Euro and the realisation of the full implications of owning a property in a potentially non-aligned country, the Brits simply stopped enquiring. We saw a lot of British owners wanting to sell, bringing some good stock onto the market.

But as the European economy lifted, May and June saw an influx of enquiries from Northern Europeans, followed by Eastern Europeans who also started to enquire.

Suddenly, July and August became very busy with sales increasing, and this continued to boom through September, October and then on to November. By the end of the year we found ourselves with more new homeowners at Puebla Aida than at any time in the last 15 years.

Property Market Costa Del Sol

What Does Spanish Property Sales Look Like In 2018?

Well, prices at Puebla Aida are fair for sellers and buyers alike. New builds have truly started in the region but prices are high. The British, with increased certainty, are back enquiring, and with some now buying again.

Spain has experienced an uplift in holiday visitors and the country has invested heavily in infrastructure and services to make Spain once again a go-to destination for holidays. This is showing, as those holidaymakers are buying at Puebla Aida and Mijas Golf. Some for family holidays and some to rent, as there is a thriving rental market.

The European economies are growing, which has brought even more buyers to the region and the weather comprising some 300 plus blue sky sunshine days per year, remains the same.

So 2018 looks very positive for Mijas properties with good stock, good sellers, good buyers and a vastly improved environment.

Contact Us Today For More Information

To find out more, call our office on (+34) 95 247 78 54, email sales@propertyinmijas.com or come and see us at Puebla Aida.

Brexit Healthcare Deal Offers Good News

October 27, 2017/0 Comments/in Buying, Travel /by Penny

 

As current Brexit negotiations stall to a deadlock, the process is looking far from the “easiest thing in human history” that was promised by prominent Leave campaigners. But, there have been certain agreements reached that haven’t made the headlines. One of which is that mutual healthcare coverage for British and EU retirees is set to continue.

With the media looking at the bigger, overall Brexit picture, it’s easy to see why some negotiations that have reached agreement are being overlooked. As trade deals and divorce bills for the UK continue to dominate airtime and column inches, perhaps more could have been reported on certain agreements that will see no change and be beneficial to hundreds of thousands of British and EU retirees.

Good News For British Pensioners

Attempted negotiations have tried to find amicable solutions for the legal rights of EU citizens in the UK. And while that continues, it’s significant that we’re seeing actual progress being made in other certain areas. And one, among several key points for the thousands of British pensioners enjoying retirement abroad, is the issue of ongoing healthcare.

It’s been confirmed that, after Brexit, all British pensioners that have settled in other EU countries will continue to receive healthcare paid for by the NHS. Though the deal has only been agreed “in principle”, there’s no reason to believe this crucial advance won’t get rubber-stamped before too long.

Brexit Secretary, David Davis, commented “this is good news for British pensioners in the EU” and the news is bound to bring a collective sigh of relief for British expats abroad. But it will also be welcomed by the 85,000 European retirees settled in the UK. The healthcare deal is reciprocal and will also work in reverse, so EU pensioners will continue to receive healthcare from the NHS in the same way.

Related Post: 8 Reasons To Buy & Sell Property In Spain Post Brexit

Insurance Card Cover Stays

As part of the deal, it’s understood that the agreement will also allow British pensioners in the EU continued use of their existing European Health Insurance Card (EHIC). For British retirees in any EU country, it means that they can still go on holiday to other EU countries, and still receive healthcare with the card should they need it.

Apparently, Davis had been pushing for the continued use of the card to cover all British tourists as well. However, talks of wider issues like this have been put on hold until the main issues affecting EU citizens are resolved.

Reassurance For Expats

Astonishing figures released by a parliamentary select committee earlier this year, shows that Britain reimburses other EU countries to the sum of £650m for treating British patients in the EU. Approximately £500m of that overall amount goes on treating 190,000 registered pensioners with the highest of those pensioner figures, as expected, attributed to popular retirement destinations of Spain, Ireland, France and Cyprus.

Related Post: The Impact Of Brexit On Property In Spain

So as the Brexit juggernaut rumbles on, it’s heartening to finally see some progress being made to protect both British and European pensioners healthcare as they enjoy retirement in reciprocal countries. There’s still much work to be done, but for now, the healthcare deal is a reassurance for all expats, and one less thing to worry about when so many issues on the Brexit agenda are still up in the air.

Retirement Homes In Spain

September 23, 2017/0 Comments/in Buying /by Penny

Whether it’s a choice between the bustling city life, with their parks, museums and cafés or the sun-drenched beaches along the Costa Del Sol of Andalucia, Spain holds a fascination for the British like no other European country. But when you’re looking at retirement homes in Spain, there’s more to consider than just the weather.

 

Of course, good weather and the laid-back lifestyle of Spain will always appeal to anyone looking to retire there. But when it comes to packing up your life and moving to a new country, there’s a lot of pros and cons to weigh up. But let’s look at some of the bigger practicalities you’ll need to consider.

Finding The Right Retirement Homes In Spain

This may sound obvious, but permanently moving to Spain is wildly different to being on holiday for a couple of weeks. You should always carry out lots of research on your preferred area, deciding on whether you favour a home within a short walking distance to the beach, or if you want to take advantage of somewhere further inland like some of the more secluded Mijas villas.

There’s lots of other things to take into account for retirement homes in Spain as well, such as proximity to shops, restaurants or doctors and dentists. Also try considering what life might be like in 10 or 20 years time. You may well be fit and active when you retire and move, but think about whether your new home might be in a particularly hilly region or have lots of steps to tackle and how it might affect you.

Health And Healthcare

Planning ahead and getting your healthcare arranged before you retire is essential. Though Spain has a good national health system for locals and visitors alike, there may be some restrictions as to what treatments and services you might be entitled to as an ex-pat.

Many retirees arrange for private healthcare if they can afford it, making sure they have access to all services with a considerably shorter waiting time. If this is an option, your health insurance should be valid and kept updated.

Secure Your Finances

It’s important to get professional advice from an independent financial advisor before you retire to Spain for clarity on any issues. When it comes to your UK State and private pensions, speaking to the HMRC beforehand should guarantee your State pension remains, but they’ll also be able to give you important advice on any tax issues.

State pensions can either be paid into a UK bank account as normal or a Spanish bank account in Euros. If you choose the latter, it’s worth noting that the amount could change due to fluctuating exchange rates.

Embrace The Culture

While there’s a lot to think about beforehand, living in Spain opens up a whole new chapter in your life with much to look forward to. But searching for retirement homes in Spain, whether you’re choosing between luxurious Mijas villas, comfortable townhouses or beachside apartments, should be just the start of your adventure.

While the day to day Spanish way of life might come as a bit of a culture shock at first, embracing their lifestyle and traditions will soon help you to settle in and feel part of the community – especially the food, wine, and siestas!

Spanish Mortgages For Non Residents

August 31, 2017/0 Comments/in Buying /by Penny

There are a number of reasons why you might want to buy a property in Spain. Perhaps you are going to use it as a family holiday base for those long summer holidays, a fresh new start in your life, or maybe even a retirement property for you to spend your free time in. No matter the reasons, this guide on Spanish mortgages for non-residents will help.

Spanish Mortgages For Non Residents

If you want to buy a property in Spain then you are going to need to know the basics of what will be required. One of the important factors to consider is Spanish mortgages for non-residents. These are not the same as mortgages in the UK and any kind of forward planning is going to be a huge help in the long run.

Lending Conditions In Spain

The house prices in Spain have been on the rise, as well as the economic conditions in the country too. This has meant that there are more and more lenders that are offering Spanish mortgages to non-residents. As the competition increases, the interest rates improve, which means that borrowing is becoming all the more attractive. This means, despite the changes to the EU and some of the issues within the surrounding counties, Spain is still a great option to buy property in.

Deposit

The minimum deposit that you can expect to need to purchase a Spanish property is 30%. This means that in order to buy a property in Spain, you are going to need to have some savings or equity behind you, otherwise, you may not be able to secure a mortgage.

Repayments

Interest only mortgages are no longer available in Spain, which means that you only have the option of a repayment mortgage to consider. It used to also be the case that the variable mortgage interest rates were the better option in Spain, however over the past year or so, there has been a dramatic surge in fixed-rate mortgages, often as long as 25 years. This is a good thing if you want to make sure that your payments are at a fixed rate.

Insurances

One last important thing to remember is that home and life insurances are usually compulsory with Spanish mortgages, which means that these are also things that you will need to arrange and work into your budget.

More Information On Spanish Mortgages For Non Residents

Despite being plenty to think about, buying Spanish property is still a great idea, especially in a beautiful area such as Mijas. Whilst it may take some hard work, careful planning and lots of decisions, once you own your property and can relax by the pool, all that effort will seem like a distant memory!

So get in touch with us today to check out property for sale in Mijas and own your dream home.

8 Reasons To Buy & Sell Property In Spain Post Brexit

August 16, 2017/0 Comments/in Buying, Selling /by Penny

 

There appears to be a lot of talk about the risks associated with buying and selling property in Spain throughout the media, especially since Brexit. However, most of the things being said are not true and are being based on decisions made out of panic.

Therefore, we thought it would only be right to give our professional opinion on the situation with our 8 reasons to buy and sell property in Spain.

Our 8 Reasons To Buy & Sell Property In Spain

  1. The flux in the Pound to Euro has brought exciting opportunities for sellers and buyers alike.
  2. If you are a Brit selling, you will have seen the value of your property increase by 20% since Brexit.
  3. If you are a Brit buying, you will find some Brits have reduced their prices by 20%. So, for Brit buyers, there is no increase in price.
  4. In the UK market, there is a 3% uplift on stamp duty if you are buying to rent, whereas in Spain there is no uplift.
  5. Spanish banks like Santander and Sabadell (part of TSB), offer mortgages that are not as stringent as the UK.
  6. You don’t need a buy-to-let mortgage when purchasing property to rent in Spain.
  7. All buying and selling costs in Spain are considerably lower than the U.K.
  8. The Spanish Government has said they do not want to loose the 500,000 British people that currently live in Spain, despite Brexit and will put steps in place to protect Brits.

Related Post: Brexit Healthcare Deal Offers Good News

Brexit Has Had No Impact On Brits Buying In Europe

Despite the panic in the media, stats are showing that Brits are showing no sign of giving up their dream of owning property in Spain, or anywhere else in Europe for that matter. No doubt, most of the reasoning behind this is linked to our top 8 reasons above.

Currently, 55% of Brits who were previously considering to buy property abroad have said that Brexit will have no impact on their decision, with 10% saying they are more likely to buy because of it.

To read more about the stats, provided by The Express, take a read of their article: http://www.express.co.uk/life-style/property/818267/brexit-buying-property-in-spain.

Also, do remember to take a read of our related post: The Impact Of Brexit On Property In Spain.

Considering Buying Property In Spain?

If you are considering to buy property in Spain, you will need to make sure you follow the correct processes and procedures. To help you do everything right, we have put together a handy guide to buying property in Spain, so do make sure you take a read: Our Guide To Buying A Property In Spain. Remember to also see our Brexit Opportunities page for special offers and deals on Spanish properties.

If you have any questions, or want more information, give our friendly team a call today on (+34) 95 247 78 54 or drop us an email at sales@propertyinmijas.com.

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