What are the pitfalls of buying a property in Spain?
What are the pitfalls of buying a property in Spain?
- Not Allowing Enough Time. ...
- Not Doing Enough Property Research. ...
- Not Being Financially Prepared. ...
- Not Having the Legal Registrations You Need. ...
- Not Reading the Contract. ...
- Not Researching Property Locations. ...
- Not Budgeting for Future Fees.
Are house prices in Spain falling?
While house price growth peaked at 8.5% year-on-year in the first quarter of 2022, according to Eurostat, it fell to 3.5% in the first quarter of this year. Other price trackers such as TINSA also show a clear downward movement.
Is it risky buying property in Spain?
Spain is a bureaucratically complicated country. The real estate market there has fluctuated in the past, so some research before buying property is always a good idea. Another important factor to keep in mind is that Spain has a fairly high capital gains tax.
Are house prices going to fall in Spain?
Although the total number of real estate transactions (purchases and sales) is expected to fall by about 15 per cent in 2023, the decline in house prices will be only 0.9 per cent, according to Atlas Real Estate. 2022 will end with an average price of €1,706/m², 2.9 per cent higher than in 2021.