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.
A draft law currently going through the Balearic regional legislative process aims to force “large holders of property” to make them available for rent.
One of the more contentious aspects of the bill is that it intends to force landlords who own ten or more empty properties to offer them for long-term rental, to help ease the housing shortage on the islands. The Insular Council of Ibiza is demanding it be reduced to five.
This draft law has run into a lot of opposition from different quarters, and I’ve been asked if it might affect second-home owners with holiday-homes in Mallorca, Menorca, Ibiza and Formentera. If they don’t use their properties, or do so only occasionally, might they be forced to offer them for long-term rent?
The answer is no. This is what Will Besga, head of legal firm Mallorca Law, has to say about the bill:
It is not yet in force, we don’t know the final text, and there will be appeals in courts.
The aim of the bill is to go against banks, who have large numbers of repossessed properties
Most expat or local holders are not large holders of property, and if there are any, in all likelihood they will have them as an investment and hence rented out
In two years we will have elections, and in all probability the opposition will win them, who will then proceed to repeal this, and many other laws.
This draft law, called the Llei d’Habitatge (del Govern Balear) in Catalan, is not to be confused with the Balearic draft Tourism law (Llei del Turisme), which is also going through the legislative process at the moment. The Tourism bill does have implications for foreign owners of property in the Balearics, but just like the Housing bill, the final text is not yet known, and if and when it does become law, it could be repealed in a few years time.
Everything you need to know about property in Spain
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