Insight into the Spanish property market, guides to help you make informed decisions, and a directory of real estate professionals and home service providers from a source you can trust.
This is a website for buyers, owners, and sellers of property in Spain, offering reliable information and resources to help you get things done with confidence. It is run by Mark Stücklin, author of the Spanish Property Doctor Column in The Sunday Times (2005-2008), and the book ‘Need to Know: Buying Property in Spain’ published by Collins.
When you buy or sell property in Spain the sums of money are large, perhaps one of the biggest financial decisions of your life. The high transaction costs you will face like taxes and commissions only make the decision more important to get right. And when you own property in Spain you face a host of extra challenges to manage, and costs to control. Unfortunately, the Spanish property market is opaque and full of pitfalls, and notoriously unprofessional. Buying and selling property in Spain is not a decision to be taken lightly, and you may find it much easier to buy than sell if you don’t take care. In this market it is crucial to do your own research, and don’t rely exclusively on people who are trying to sell you something – let’s just say they might not have your best interests at heart. Spanish Property Insight is the only independent source of information and analysis of the Spanish property market. Don’t even think about buying or selling property in Spain without subscribing to Spanish Property Insight.
The proportion of owners in arrears on their condominium fees (community fees) in Spain is higher than ever, reveals a new study.
Non-payment of community fees have doubled in four years to 1.9 billion Euros, according to a new study by Arrenta. The proportion of owners not paying their community fees rose 19pc in 2013 alone.
When some owners in a condominium, known as a community of owners in Spain, don’t pay their share of the community fees, the financial burden rises on those who do.
In most cases it leads to failure to invest in the maintenance of residential buildings, and a faster depreciation of the common areas that add value to the community. The end result is a lower capital value for all owners, whilst those who do pay subsidise those who don’t.
The problem of condo fee arrears is largest in Andalusia (19.4pc), followed by Catalonia (16.5pc), Madrid (14.7pc), and the Valencian Community (10.6pc).
Arrenta forecast that the problem of arrears on community fees will rise in the coming years as the economic crisis drags on and property owners struggle to pay their bills.
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