As an ex professional footballer I must admit that the European Championship has not been too exciting but that will hopefully change now that it is the knock out stages. Great news for the Spanish national team or "La Seleccion" as they are known who have progressed into the quarter finals. This will be a big bonus as the Spanish economy has been affected by the loss of tourist income and a successful run in the Championships will be a welcome boost to the bars and cafes on the Costa’s.
With so many sporting events such as the Euro Football, Tour De France and Wimbledon this has not stopped foreign buyers purchasing property on the Costa Blanca and Costa Calida regions. With many developers reporting record sales and the continued release of new modern properties that are more energy efficient, this has also increased interest due to the lower running costs of a well insulated property.
In this months newsletter we will provide you with buying and selling tips along with the best buys on the market.
We love keeping you up to date with the latest Spanish property news, buying tips and the latest property offers and whether you are a potential buyer or looking to sell your Spanish property do not hesitate to contact us with your queries by clicking
TOP TIPS WHEN CONSIDERING LOCATIONS
As we all know location is the most important aspect when deciding where to purchase a property. Here are some tips to help you narrow down your property location search.
Do you want all year life with amenities open 365 days then consider Spanish towns that are not holiday areas which may close down in the winter months.
Look at locations that have good access to international airports as nothing less appealing than a 2 or 3 hour drive after getting off a flight.
If you are looking for a good winter climate and a cooler summer climate consider locations within 15 minutes of the coast.
A Finca up in the hills will provide you with tranquility but may also provide you with snow and ice in the cold winter months along with a badly insulated property if not modernised.
Finally if you have teenagers in the family pick a location that would appeal to them also as you would want them to use the property in the future. A Finca is not really appealing compared to a nice coastal property near a host of amenities.
Spanish Property Alterations Or Renovation Projects
If you are planning on making alterations or adding an extension to your Spanish property it is very important that you apply for the relevant licences from the local town hall. It is also important if your property is in a community that you should also ask the community administrators for permission before any work commences. If you are doing decoration internally then no licence is required however if you are making any alterations that will affect the property externally or if you are increasing the size of the property the licences and permissions must be granted before work starts. The local town halls are now visiting properties to see if any alterations have been done and they are issuing heavy fines if no licence was granted. I had a client who built a small storage room of 4 sqm and he received a 3000 euros fine and was asked to remove the room. If in the future you are selling your property the buyers lawyers will automatically ask for licences for any work done and if you do not have a legal licence this will definitely put off prospective buyers.
Joint Spanish Property Purchase And Payment Requirements
If you are buying a Spanish property jointly we recommend that the funds for the property purchase are transferred to Spain from a joint bank account. If you are using a currency broker to exchange euros from sterling as long as you can provide confirmation that the funds have been paid jointly to the currency broker this will be sufficient to prove to the Spanish tax authorities that the property purchase has been funded jointly.
If the funds for the property purchase were made from a sole account then the Spanish tax authorities could argue that the other party was gifted a 50% share of the property and there could be tax implications.
TOP TIPS FOR THE SUMMER SEASON IF YOU ARE RENTING OUT YOUR SPANISH PROPERTY
With the summer season starting here are some tips to ensure that your tenants enjoy your property.
Ensure air conditioning has been fully serviced and is in good working order.
Good quality bed linen and towels on arrival make people happy.
A clean property is necessary and ask your renters for feedback when they return home as you will be able to see if your property manager is providing you with a good service.
A crystal clear swimming pool is a must.
Finally renters love an information pack of places to visit, recommended restaurants and the local taxi service. Well worth the effort to provide a welcome information guide.