Spanish Property Market After The Summer
Latest Spanish Property News
Now that the summer holiday season has come to an end, the property market here in Spain starts to become busier as British, Irish and the rest of northern European clients start to consider purchasing their Spanish property in the sun.
Early in September as writing this update, we are already getting regular enquiries from clients looking to purchase their dream Spanish property. Even with the mild start to the Autumn and the fabulous sunshine in parts of Northern Europe, particularly the UK, recent visitors to Spain have returned home and started to enquire about the prospects of buying a new holiday home in Spain. The inevitable busy period we are about to experience will reduce availability and so house prices will no doubt continue to rise, albeit at a slow pace.
Spanish House Prices Continue To Rise
We constantly advise our clients looking to purchase property in Spain that now is the time, sometimes it can feel like we overstate this point, but house prices are rising, so why pay more for your new Spanish property in 6 or 12 months’ time, so “take the plunge” and book your inspection visit now. According to the latest House Price Index data published by the National Statistics Institute, the price of housing in Spain increased by 3.9% year-on-year in the second quarter of the year, which is almost two and a half points less than the 6.3% year-on-year increase registered in the first quarter. This most recent increase represents the ninth consecutive quarter in which housing prices have registered positive year-on-year rates.
Looking to sell your house in Murcia?
We have been so busy over the last 12 months, we are now looking for more properties for our waiting clients – if you have a property to sell in the Costa Calida, particularly in Los Alcazares, San Javier, Roda Golf Resort, Mar Menor Golf, Santiago de la Ribera and anywhere along the Mar Menor coast, then please contact us now
We will provide a free valuation of your property, we will arrange for professional photographs to be taken and we will market your property through our many web sites and through professional affiliates both in Spain and overseas.
Looking to purchase property in Spain?
We are constantly asked by our clients, “what are the closing costs for in Spain and how much are they”
You should always consider adding between 12% and 15% to any agreed purchase price, these would typically be for VAT, or Transfer Tax, Stamp Duty, Land Registry, You will also need to pay for Legal Fees and Public Notary Costs.
Some of the fees are not clearly defined, so your lawyer will always ask for a “provision of funds” more often slightly higher than required, best not be short of funds at the Public Notary office on the day of completion, but be assured, any overpayment will be refunded to your bank account after the purchase has been completed.
For more information on the Spanish property purchase process, please contact us right away, we are always available and always more than happy to assist.