We hope you are well and wish you a prosperous and healthy 2021. With the vaccination programmes starting throughout Europe, we are remaining positive that this will inject confidence into the Spanish property market. The past year has really emphasised that life is there to be enjoyed and that every second is special. If you have thoughts of buying a place in the sun, we would love to help make your dream a reality.
As always we like to keep you updated with the latest property news and offers and in this months newsletter we cover the things that matter, unbiased advice and tips.
As alway we would love to answer any questions that you may have about buying or selling Spanish property, therefore do not hesitate to contact us with your queries by clicking
Spanish Property Prices Generally Remain Stable
With the Covid19 we all suspected that there would be a fall in Spanish property prices. However, the price of Spanish property has not shown major reductions especially in the popular coastal locations on the Costa Blanca and Costa Calida. The inland properties have had higher price falls of around 10%-15% but this is due to the demand being less.
It is no doubt a buyers market and most sellers will listen to offers therefore the price will really depend upon how desperate a seller is to get a quick sale. As for new properties buying direct from developers there has been very little movement on price as the developers do not wish to upset previous buyers by reducing the prices of their product.
As we all know both parties must be happy to conclude a property transaction and our advice is to make a sensible offer, negotiate and hopefully start living your dream.
Community Fees All You Need To Know
If you are considering purchasing a Spanish property you should always find out what the community fees are if the property is in a complex or resort.
Community fees are payable to cover the cost of maintaining communal areas such as a swimming pool, gardens, and cleaning of communal areas.
The fees are set each year at the AGM for the community. The residents committee and administrators will put out to tender the contracts for the maintenance to get the best deal, A budget is then agreed which will then determine the fees that each property will pay to pay.
If there is 24-hour security on the resort the fees will be more expensive.
Example fees for a 2-bed apartment with pool are approximately 50 euros per month however if a golf resort property with 24 hour security the fees may be approximately 150 euros per month.
As community fees can vary it is important to find out what they are before agreeing to a purchase as it is important that they are within your monthly budget as there is no point having a property that you cannot afford to visit.
Higher Spanish Taxes For Rental Properties
British owners of Spanish properties will have higher Spanish taxes to pay if they rent out their Spanish property.
Following Brexit, British owners will pay 24% Spanish tax on the gross income they receive from rentals. Previously they would have paid 19% Spanish income tax on the rentable income less expenses. If you are an EU resident, you will continue to pay 19% Spanish income tax.
What Is A Padron And Why You Should Apply
The El Padron is Spain’s population register and after purchasing a property in Spain you should apply for the Padron at your local town hall. The Padron is a census and the Spanish government uses this census to determine what public services each area requires in relation to the number of people registered. It is therefore important that you register for your Padron so that your local area receives the public services that it requires. The more people on the local Padron means better amenities and services.
Las Colinas Golf And Country Club Madrono Apartments Win European Property Award
Madroño Skyvillas have been awarded the ‘WINNER’ by the European Property Awards in the category of ‘Residential Development Spain 2020-2021′
These apartments are located in the Madroño community and offer fantastic golf and sea views.
This is another award for the best resort in Spain and if you are looking to purchase a modern property on an exclusive private resort then this is the place to be. For more information about the great selection of properties on Las Colinas click www.lascolinasgolfresales.com
Santa Rosalia Lake And Life Resort – Register Your Interest Now
Madroño Skyvillas have been awarded the ‘WINNER’ by the European Property Awards in the category of ‘Residential Development Spain 2020-2021′
Santa Rosalia Lake & Life Resort, this attractive new resort located on the Costa Calida is the next top location for buyers. Villa options have been released already and apartments still to come in the very near future. The resort focus point is the large lake surrounded by beaches along with parkland areas to relax. For more information about the resort and property currently available click Santa Rosalia Lake And Life Resort
