Buying Property in Spain
Foreign property buyers are emerging as a powerful new force in the Spanish economy, boosting demand for new housing, which in turn is sustaining the country's long construction boom, according to analyst reports.
"There is no risk of a property crash in Spain in the short or medium term thanks to new demand generated by immigrants," says Angel Berges, a partner at Analistas Financieros Internacionales, a Madrid consultancy. Mr Berges estimates foreign property buyers will buy some 170,000 homes in Spain this year – almost one quarter of total demand for new houses.
Guide to Buying Property in Costa del Sol & Spain
You may find that buying property in Spain is a little different to what you are used to in your own country. It is always a good move to ensure that you are fully aware of the terms and conditions of the contract before you sign, once signed, the contract is legal, any deposit paid will be lost if you change your mind at a later stage.
Always deal with a reputable agency and always use the services of a Spanish lawyer. Please remember, that when buying a property in Spain you must always use a local Spanish lawyer.
Click here to read the full version of the online guide buying property in Spain on the Duchy Estates web site.
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