Spanish Property

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Kitty Kat

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For those who are considering purchasing property in Spain beware. It appears that for the majority of estate agents over there they have three pricing structures

1) Those available to Spanish Resident
2) Those for UK purchasers
3) Those for Irish purchasers

And guess who gets the highest price, yes the Irish.
 
This is a phenomenon not unique to Spain. It seems to be similar in many other European countries (just look at the property pages in the IT for example).
Indeed, we have a similar situation here in Ireland. It's called Section 23 property.
 
Kitty Kat said:
And guess who gets the highest price, yes the Irish.
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And plenty of them are preprared the inflated prices by all accounts. Caveat emptor.
 
As I have bought in Spain a few years back, definitely agree.
Buy privately (will save up to 20%) if at all possible, and one has to do the due dilligence and hit the pavements rather than be screwed by an agent either in Spain or worse still in a Hotel here. Market is strengthening in Costa Del Sol as the German economy starts to recover (albeit slowly).
 
Conan said:
Indeed, we have a similar situation here in Ireland. It's called Section 23 property.
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I don't see how thats similar. True S23 properties are more expensive but that is for all purchasers regardless of nationality and reflects the tax saving to be made by buying one. In fact I imagine buying a S23 property only makes sense for someone who is tax resident in Ireland as with the inflated cost you would be payingover the odds if you did not receive the tax benefit.
 
Dam099,
My point was that Irish people are not just paying over the odds for property in Spain, but also here in Ireland. Look at the article in yesterdays Indo (I think) to see how S23 property is being sold by developers at inflated prices. Effectively the developer is taking most of the tax break. We saw the same with the seaside developments in places such as Courtown, Lahinch etc.
 
Another thing to ask about when you buy in spain.
A neighbour passed away and her husband went to spain to sort out transfering her half of the house to his name. They said it will cost him €5,000 to do this but it could be more depending on the valuation of the house.
Any if you are buying make sure you have a will done straight away if there is no will the govnerment can take over the property if someone dies.
 
and structure the will to leave it to as many beneficiaries as possible to reduce the tax burden to the minimum.
 
and he was also told that anyone on the will should get NIE number which is a spanish identity number for people that do not live in spain it makes things easier if anythine ever happened
 
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