Where it is always summer: How to buy an apartment or villa in Spain
Despite the fact that prices here, as well as the standard of living, are much higher than in Turkey or Bulgaria, the Mediterranean coast is always in high demand. In sunny EU countries, it makes sense not only to relax, but also to study and work.
The expression “nature has no bad weather” was invented as if specifically about Spain. In this country, on the Mediterranean coast, there are 320 sunny days a year, and the average annual temperature does not drop below 20 degrees. It would seem that only this is enough to want to settle in the homeland of Picasso and Dali, but a favorable climate is not the only merit of the southernmost state of Europe. The areas of Costa Brava, Costa Blanca and Costa del Sol are considered to be the most popular among foreign buyers, large cities such as Madrid and Barcelona are no less popular. Well-sold real estate of any class – and luxury villas on the first coastline, and more modest apartments in multi-storey residential complexes at a sufficient distance from the sea.
Spain is a steadily developing country, open to foreign investment and the development of private business. The choice of real estate here is great and very diverse. In addition, foreigners can get a mortgage loan relatively easily. And on favorable terms. Spain has a record low interest rate for Europe – only 6% per annum, and money can be received for up to 30 years. In this case, the acquired housing immediately becomes the property of the buyer, and does not remain with the bank until the loan is repaid, as is often the case in other countries.
“When buying an apartment in Russia, you become the owner of only the inner surface of the walls that mark the boundaries of the acquired housing,” said Stanislav Komov, a specialist in the real estate agency. – In Spain, in addition to the living space itself, you acquire a share of the public premises of the building and the land related to it, for example, flights of stairs, corridors, basement, attic, roof, internal and external courtyards and public parking. Therefore, when in Spain they talk about an apartment, for example, with an area of 100 square meters, they also mean the footage of all public areas, so the real area of the apartment will not exceed 80 square meters.“
Housing prices in the sunniest European country are constantly growing, but even this does not deter many buyers. First of all, because, despite the rapid rise, they still remain lower than in many European countries. The average cost per square meter of housing in the country at the moment is 2.4 thousand euros. Apartments in a quiet seaside town on the third coastline can be purchased for 1.5 thousand euros per square. And in Madrid or Barcelona, prices are quite Moscow – 6-7 thousand euros per 1 sq. Km. meter.
Bolt Property Group, a luxury villa construction company in Spain, has announced that the number of requests from Russian customers has increased dramatically.
“Just last week, I had negotiations with a client from Moscow, who had an unlimited budget. There are many places in Spain that can offer decent infrastructure, a high level of security and a favorable climate 365 days a year” said Hadley Bolt, president of the company.