Property Mortgage

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Then he gets himself some a simple studio in Spain to obtain a Schengen multivisa. – What are the costs of the residential real estate waiting for its new owners? – Property tax, which in each province and is considered by its very complicated scheme, but, in practice, it is 0.2-0.5% of property value per year. Plus, about 0.2% a year – a tax on individuals who own real estate. Cleaning fee houses adjoining areas, entrances, playgrounds, etc. set meeting residents and is usually from 50 to 500 euros per quarter depending on the class housing. Utility bills: for example, if a household of two people living in a two-bedroom apartment, they take about 60-70 euros per month. Again, it all depends on the size and class of property. – We know that many people buy real estate in the resort countries in order to lease it.

How complex is the procedure for foreign nationals – non-residents of Spain? And what about the rental market? – Yes, the apartments are often taking out a mortgage and come here to relax for a few weeks a year, and the rest of the time, so the apartment is not idle, and somehow compensate for the costs rent it out. If this little apartment, you can pay off the mortgage in full, but if it is a huge apartment, bungalow or villa, the mortgage will be partly to beat. I want to warn that receive income from the rental bought a mortgage real estate will not work. There are two forms of rental real estate: year-round and short-term tourists. Naturally, tourists rent housing at higher prices, but it is not guaranteed earnings, when thick, and when empty.

– What you can highlight the main advantages of buying a home in the primary and secondary markets? What price differences in these segments? – Let’s order. Benefits of Buying apartments in the primary market. Housing choice in this segment much more. Finishes, and sometimes planning options can be selected according to your taste, but not to the liking of the last owner. Everything else, the buyer of a new apartment construction is given 10-year warranty. The advantages of a home purchase in the secondary market. The possibility of finding an apartment in a particular place: in a particular city, region, district, home. And, importantly, the vast majority second hand apartments already furnished. As for prices, the secondary market a little bit cheaper than the primary. That’s it. – Yuri, thank you for this interesting and informative conversation. – Please! And before the meeting in Spain!