The Spanish Registrars Association, in collaboration with the Royal Institution of Chartered Surveyors in Spain (RICS), and the Association of International Property Professionals (AIPP), have published a new guide to buying property in Spain.
Written in English, the guide follows the journey of an imaginary British couple – Frank and Diane – who are close to retirement in their fifties, as they set about buying a home in Spain. All the key steps and costs are explained, along with buying tips and “crunch points” that illustrate pitfalls to avoid.
As the introduction to the guide explains, “although Frank and Diane are British, they could just as easily be Lars and Lotte from Belgium, Max and Mia from Germany, or Shirley and Sheila from Australia. The dangers are all the same when folks “leave their brains behind at the airport” and the rewards are the same when they do it right.”
The guide aims to “guarantee the security of the buyer throughout the process,” explains the press note from the Registrars. The fact that the Spanish Registrars Association is helping to publish a guide to buying in Spain aimed at foreign buyers shows how important this demand has become.
“Foreign citizens were involved in 12.5% of all homes purchased in the first half of 2015, even reaching between a third and a quarter of sales in some autonomous communities, like the Balearics, where they represented 33.5% of all purchases in this region in the second quarter, followed by the Canaries (27.5%), the and Valencian Community (25.7%),” they explain. “In Murcia, Andalusia, and Catalonia, they represent between 12% and 15% of the market, whilst in Madrid 4.7% of purchases were made by foreigners.”
in Spain, as in other countries, private property rights are most secure when inscribed in the property register, known in Spain as the Registro de la Propiedad (Registradores.org). For maximum peace of mind, buyers in Spain should check the registry information of a property before purchase, and then inscribe their title deeds in the Spanish Property Register after the purchase has been witnessed before a notary public.
This new Guide To Buying A Property In Spain can be viewed online at the website of the Spanish Registrars Association here or by clicking the image below.