Holiday Homes Spain
Owning and retiring to a holiday home in Spain is a dream for many British and Europeans. But in recent years the bad side of home ownership in Spain has been exposed. Including; dishonesty from developers and sales agents, the ‘land grabs’ in Valencia and illegally built properties being bulldozed.
THE travel agent Thomson estimates that Britons have already bought about half a million foreign properties, half of them in Spain. Marbella, Malaga, Catalunya, Huelva, Salou, Cadiz, Sevilla, Cordoba, Granada, Jaen, Almeria, Murcia, Alicante, Barcelona and Girona are popualar places to purchase Spanish property.
Spanish home ownership is common with the Dutch, British and Germans. Expats normally form close communities. The lower cost of living, coupled with the great weather and laid back lifestyle offered makes Spain the number 1 choice for those seeking to live the dream of foreign home ownership.
Due to television programmes about living abroad, like ' A Place In The Sun', the growth of budget flights, and people looking to invest in property for retirement, rather than pensions, owning a home in Spain is now a realistic option for many people.
Getting a mortgage on Spainish property is easy these days. Spanish Banks will lend non residents 70% of the purchase price. Interest payments are typically lower than what is on offer in the UK. For those with equity in a UK property, getting a remortgage against it may be an easier option. Remember that legal fees/taxes will be around 10% of the purchase price.