Over a year into the global COVID pandemic, and the property market in Spain is starting to recover. Now is the perfect time to invest in properties in sunnier climates while prices are low and demand is set to increase. So here are the top 5 reasons to buy property in Spain in 2021.
Why Buy Property In Spain?
With the extra time we’ve had indoors during lockdown, you might have seen one of the many daytime TV shows that showcase the properties available in the sunnier climes of Spain. So while you’ve been stuck indoors, you might have had the urge to chase the Spanish sun yourself. But apart from the beautiful weather, there are many reasons why you might have wanted to buy property in Spain.
- Tourism: Spain has come a long way since it gained a less-than-desirable destination for cheap package holidays and hen parties. While bargain lovers can still benefit from budget hotels and a lively atmosphere, Spain has now become a prime destination for avid travellers and party animals alike. With cities such as Madrid and Barcelona at the epicentre of fine dining and artistic culture, it’s no wonder why an average of 83 million tourists pay a visit to Spain each year, most of whom are looking for temporary accommodation, which is great if you plan on renting out your property when you’re not in the country.
- Climate: With its hot, dry summers and mild winters, Spain is the ideal place to relax and unwind at any time of the year, safe in the knowledge that it will probably always be warmer than the UK! Cities such as Alicante experiencing on average only 37 days of rain per year. This almost constant supply of sunshine is one of our most important reasons to buy property in Spain.
- Safety: Low crime rates and a large community of British expats makes Spain a generally very safe country to purchase a property in. With a sense of community within both the Spanish and expat communities, you’re never far from a friendly face and a natural “neighborhood watch” sense of spirit.
- Culture: With an exciting mix of various cultures, such as pre-Roman and Celtic influences, Spain offers a welcoming and inclusive vibe to all. Whether you have a passion for learning how to Flamenco dance, or you’re more accustomed to leisurely strolling around art galleries to experience the works of Picasso and Dali, there’s always something to keep you entertained.
- Food: From olives to tapas, paella to garlic roasted lamb, the delicious smells drifting throughout Spain during mealtimes are something to treasure. Having colorful and engaging dishes are something that Spanish residents hold dear to their hearts, so there would be ample opportunities to find new and exciting evening meals if you were to buy property in Spain.
With many towns and cities within Spain holding daily and/or weekly markets, there’s always the perfect opportunity to sample the freshest ingredients and take some home for yourself to recreate the Spanish classics.
What Do You Need To Buy Property In Spain?
There are many reasons to buy a property in Spain, including as an investment. But you should make sure that you know what you will need to buy property in Spain before you make a purchase.
The process of buying a house in Spain is different from the UK. Especially for foreign buyers. You will need:
- NIE Number
- A Spanish Bank Account
- Property Checks
- House Buying Expenses
- Contracts
Can I Live In Spain After Brexit?
After the UK left the EU in January 2020, there was uncertainty about how Brits can buy property in an EU country. However, you can still buy a property in Spain if you are British and no longer in the EU.
The cost of purchasing your Spanish property should not be any different as a non-EU citizen, however, the visa process is different if you intend to live in your new Spanish property. You will need to apply for residency, which is a long process unless you are using your new property as a second home and stay in Spain for less than three months in any six-month period. In this case, you will not need to apply for residency.
Start Your Property Search
It’s difficult to choose just 5 reasons to buy property in Spain. Spain offers Brits a place in the sun with stunning culture, history, and a different way of life. And with the Spanish property marketing starting to regenerate after COVID, there’s never been a better time to buy.
Start your Spanish property search today to turn your dream into a reality. Start by reading area guides to narrow down the location of your search.
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