Innovative property investments
Investment property in Spain
Buying Guide
Market Knowledge
Marketplace insights
In Spain, the buying process depends on whether you buy a new property off-plan or a resale, however, everything up to paying the deposit is the same.
You can search with an agency, various agencies or go it alone - it just depends on how much hand holding you want.
The more agencies used, the more inspection trips taken advantage of, the more properties viewed, exhibitions attended, developments visited and magazines read will mean an increased knowledge of the marketplace and it is much harder to be taken for a ride.
Lawyers and property checks
Once you have picked the property of your dreams, the next step is to find a reputable, independent lawyer, go no further without one or expect a fraught buying process.
It may be a worthwhile exercise checking, through your new reputable lawyer, that the development has planning permission.
Just look at recent headlines regarding the Costa del Sol citing corrupt officials and non-existent permissions.
Checking the land registry to ensure the land belongs to the developer, no debts on the property exist and that the development complies with the regional urban plan are also a must.
Keep an eye on Ley Reguladora de Actividad Urbanistica - LRAU - or Valencian 'Land Grab' (defined as the right of local developers to compulsorily purchase rural land from the existing owners in order to convert it into urban land on the basis of installing mains water, sewerage and new roads).
Properties already within urban areas are not affected by these regional laws.
Key facts
- For all types of property, you can search with an agency, various agencies or go it alone
- Using agencies, taking inspection trips, viewing properties and developments, attending exhibitions and reading magazines will all increase your understanding of the marketplace
- Make sure you have a reputable, independent lawyer to help you
- Always check (through your lawyer) that a new development has planning permission, the land belongs to the developer, no debts exist on the property and that it complies with the regional urban plan
- When buying in rural areas (or close to urban areas) in Valencia region, be mindful of the Ley Reguladora de Actividad Urbanistica - LRAU - or Valencian 'Land Grab' which permits local developers to compulsorily purchase rural land to convert it into urban land on the basis of installing mains water, sewerage and new roads
Downloadable Reports and Documents
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