We have recently come across this site and think it is really great.
We are looking to get a foot-hold in the Spanish property market. We are looking at purchasing a small studio some where along the coast.
My long winded question is; We have seen a couple of small studios in the region of 50,000 euros and we were wondering if this is the typical cost or with a studio for 50,000 is there a catch somewhere?
We were looking to put a payment of circa 35,000 euros and get a mortgage for the balance, I assume this is possible.
It’s impossible to say what the typical cost of a studio should be. It largely depends upon where it is and other characteristics. Having said that it is still possible to find small studios in some areas for around this price.
Regards the catch, there can be a catch with all types of property, no matter how cheap. Just make sure you use a good lawyer, and not one recommended by the agent you buy from. A good lawyer would find the catch, if there were one.
If you pay 35,000 then you won’t need a mortgage for more than 40% of the value. There shouldn’t be a problem with that, assuming everything else is in order.
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