Buyers guide : property in Spain

Buying property is a complicated business at the best of times, let alone when there are cultural differences to contend with and a sturdy language standing between you and your fantasy home. But don’t be too disheartened if you don’t know your escrituras from your edificios, as Global Homes has some helpful tips to turn your siesta daydreams into a reality.

Whether you are buying a holiday home in Spain, buying to let or moving out there for good, the process of exchanging deeds on a property in Spain has certain peculiarities that it pays to be aware of from the offset.

In order to ensure things run smoothly, it is a good idea to employ a gestor. Don’t be put off by the name, the only thing this gestor will be juggling is your paperwork. Pronounced ‘hestor’, these are a kind of legal consultant found only in Spain who are employed to help with administration. The bureaucracy involved in property buying is always daunting and if your Spanish is not entirely fluent then it is definitely wise to seek assistance. But, gestores must not be confused with lawyers. They can help you with tax, insurance, vehicle and driving licences, planning permission as well as all the preliminary paperwork involved in buying a property, but you will still need a lawyer to oversee the finer details of exchanging contracts. You must also make sure that your gestor is fully qualified and belongs to a professionally recognised body.

While a gestor is an optional extra who could greatly ease proceedings, a notary (notario) is essential, as they are the only people able to carry out certain aspects of conveyancing. It is the notary who witnesses the signing over of the title deeds (escritura de compraventa) and makes sure that all the taxes are paid to the state. They are not responsible for verifying the statements though, so you will still need a lawyer to ensure you are not inadvertently making any fraudulent claims. Also, as the notary works on behalf of the government, you should not rely on them to highlight any flaws in the contract or look after your own interests.

The following essential checks must also be carried out by a lawyer on your behalf:

• That there are no outstanding debts against a property, otherwise you will be inherit these costs when the property becomes yours.
• That the property has been built in accordance with planning permission (plan parcial)
• That the vendor of the property has the legal right to sell it, in which case it should be listed in the property register, (registro de la propriedad).
• That any newly constructed building has a certificate of new work (declaración de obra nueva).
• That any property on the coast meets the relevant legal requirements about distance from the shoreline etc. (Jefatura de Costas).
• That the property has no long-term tenants, as Spanish law would grant them certain privileges.

Aside from lawyers’ fees, you will have to pay fees to the notary for witnessing the signing of the deeds and to the Land Registry for registering the property. It is also a good idea to familiarise yourself with the tax system so that there are no unexpected costs to catch you out. To begin with you will need to register for a social security number (Numéro de Identificación de Extranjero). Buyers of new properties must pay 7%, or IVA as it is called in Spain, plus 1% stamp duty; buyers of properties with previous owners pay 7% transfer tax; and buyers of commercial properties or plots of land pay 16% VAT (IVA) plus 1% stamp duty. A local plusvalia tax may also be payable on the property.

But it needn’t be too much of a headache, so long as you take the time to read up on the legal issues involved. Before long you will be sipping sangria on the terrace of your new property, with the mountains of paperwork just a distant memory.

 

Contacts:

Manuel Martin and Associates (notaries)

92, New Cavendish Street,

London W1W 6XJ

020 7631 5147

notario@notario.co.uk

Santa Ana – Jumilla Golf

The golf resort boast over 14,000 Spanish properties for sale surrounding the two 18 hole, par 72 golf courses designed by world renowned Pepe Grancedo. As well as the golf resort there is a large Multi-Sport Centre, an Equestrian centre and a executive spa. There is also a plenty of shops, bars and restaurants, and even a 5 star hotel which offers entertainment. The Santa Ana Golf Resort near Jumilla is nestled under the mountains and surrounded by lush Spanish countryside. Although the golf resort is situated in a secluded part of the Spanish countryside it’s under an hour away for the airports in Alicante and Murica and 30 minutes to Murica City, the capitol of the region. Jumilla isn’t a typical Spanish village, with the history of village spanning back 2000 years, with local attractions including the Church of Santiago, an impressive castle that’s dates back to the period of Arab Domination and the Monasterio del Santisimo Rosario.

Peraleja Golf – Sucina, Murcia

Peraleja Golf has a selection of property for sale, from large detached villas to spacious townhouses all with a similar level of luxury finishes. The property for sale here is quite different, being very modern in design, low rise and designed to integrate into the natural surroundings. Located in beautiful unspoilt countryside the Peraleja Golf project has beautiful villas and apartments for sale directly on the golf course. Designed with an attention to space, the residential areas including the gardens only occupy 17% of the total area. There will be an 18 hole par 72 golf course at Peraleja Golf which is designed by Seve Ballesteros and will incorporate 4 interlinked lakes with views to the mountains and the sea.   Villas and townhouses are all on substantial plots minimum of 300sqm and maximum of over 1,000sqm. Peraleja golf properties have large glass patio windows which slide into the walls and high ceilings with beams giving an exceptional sense of space. The villas and townhouses at Peraleja Golf all have a private swimming pool as standard, a landscaped and planted garden with pond, the highest quality fittings, kitchen white goods and air conditioning as standard, all in all a superbly designed package. The Peraleja Golf development will be surrounded by a security wall and will have a 24h security gate, it will also have a shopping centre, restaurants, 5 star luxury

CYPRUS

Don’t miss out on investing in one of the last unspoiled beaches in Europe. Prices for our luxury residences start at just £41,000 and selling very fast. Take an evening stroll to the marina or the beach- it is only 100 meters away. Enjoy your new Northern Cyprus Property Gated property with security measures Gymnasium Well maintained landscaped gardens Large swimming pools Children’s Playground and pool Mini market Large gardens and open terraces Spacious Layout by World Famous Architect Amenities in the Kyrenia Area An 18-hole golf course is being developed 10 minutes away from the property New highway for easy access Beautiful fishing boat marina Lovely beach only 100m away Choice of restaurants Free inspection trip – Come and see for yourself We can reserve a hotel room and rent a car for you in North Cyprus. Let us pay for your trip. If you purchase an apartment, your flight and hotel room is on us. Pricelist of Northern Cyprus properties 100m from the Sea Map of Northern Cyprus and Marina Location More information? Want to arrange a trip? Contact us or call: 0800-849-4168 or +90-533-8613588

 

Dubai

Offshore developments in Dubai

By Lee Jones

Dubai is leading the world in exclusive leisure facilities, quickly becoming the world’s most prestigious destination for both property investment and exclusive travel.

Skyscrapers, seven star hotels and city-sized shopping malls are common-place in an emirate that has forged its reputation as the ultimate playground for the rich and famous. In little over two decades the modern cityscape has risen from the sand, funded by the United Arab Emirates’ bountiful oil supplies and the world’s largest free port, just outside Dubai.

But Dubai’s biggest asset is its beautiful Persian coastline and tropical climate; which the leisure industry is keen to exploit. Using Dutch and Belgian trawlers moving millions of tons of sand, property developer Al Nakheel Properties are literally making their own coastlines to house the world’s most luxurious leisure facilities.

These massive projects could not be undertaken by many nations, but the affluence of the UAE makes these ventures, dubbed ‘the eighth wonders of the world’, a reality. Built as the ultimate in privacy and security, locations on the Palms and the World will be sold to only the most exclusive customers, further promoting Dubai as the world leader in high-class development.

The Palm, Jumeira

Moving 70,000,000m² sand, Nakheel will create the first of three Palm tree-shaped resorts on the coast of Dubai. Under the shadow of both the seven-star Burj Al Arab and the impending 2,000ft high Burj Dubai, the fronds of the Palm Jumeira will accommodate 7000 apartments and 1800 villas. With 220 boutiques along the crescent, the impressive 2km trunk will house up to 30 luxury hotels, including the Palm International Trump Hotel.

The Palm, Jebel Ali

With a breakwater 200m wide and 17km long, the Palm Jebel Ali will be the second largest of the palms. Built from 135,000,000m² of sand, the 4km long peninsular is to be made of 16 branches housing over a thousand luxury homes upon stilts, ranging from 13,000ft² garden homes to four bedroom town houses. A 2km long trunk will have eight hotels and three marinas, with a 12km long crescent spelling out Arabic poetry penned by the late prince of the UAE and ruler of Dubai, Shaikh Maktoum Bin Rashid Al Maktoum; it reads: Take wisdom from the wise, It takes a man of vision to write on water, Not everyone who rides a horse is a jockey, Great men rise to greater challenges.

The World

The most ambitious of all of Al Nakheel’s offshore projects, the World, is a huge representation of the atlas that will be visible from space. Measuring 9km long and 7km wide, the project will eventually use 320,000,000m² of sand and 30,000,000m² of rock to make up an archipelago of 246 private islands. The islands will be between two and four hectares in size, and range from private islands for a single owner to larger islands for groups of homeowners. Each island will cost in the region of $25,000,000.

The Palm, Deira

The most recently planned venture, the Palm Deira has yet to begin full construction and will be the largest of the three palms. Measuring over fourteen kilometres long it will have 7,820 luxury villas upon 41 branches and a huge range of five star leisure facilities which are yet to be finalised.

Inset Dubai properties (speak to Louise)