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When exploring the most popular regions in Spain for buying apartments, you cannot overlook the unique charm and appeal of Castellón and Oropesa del Mar. These regions are not just geographic locations; They represent a lifestyle, a combination of modern living with historical richness and an opportunity for intelligent investment.
 
Castellón stands as a hidden gem on the eastern coast of Spain. Known for its stunning beaches, picturesque landscapes and peaceful lifestyle, it offers a perfect escape from the hustle and bustle of big city life. Buying an apartment in Castellón means investing in peace and serenity, where you can enjoy the Mediterranean climate, enjoy local cuisine and immerse yourself in a community rich in tradition and culture.
 
Oropesa del Mar is a coastal town known for its beautiful beaches and the Marina d'Or holiday complex. It is a perfect destination for those who love the beach but are also looking for a calmer and more familiar atmosphere. Apartments in Oropesa del Mar offer stunning sea views, access to pristine beaches and the opportunity to be part of a growing community that values quality of life and leisure.
 
Each of these regions offer unique attributes, making them ideal for different preferences and lifestyles. Whether you're looking for a tranquil retreat, a culturally rich urban setting, or a family-friendly coastal city, these regions satisfy every desire. With its combination of beautiful landscapes, cultural heritage and vibrant communities, purchasing an apartment in any of these areas is more than an investment; It is a step towards a satisfying lifestyle in one of the most charming regions of Spain.

The property purchasing process in Spain for foreign buyers has some unique aspects compared to local buyers. Understanding these differences is crucial to a successful and smooth property acquisition. Here is a summary:

  1. NIE Number (Foreign Identity Number): As a foreign buyer, the first step is to obtain an NIE number. It is an identification number for foreigners in Spain, essential for almost all transactions, including the purchase of property, opening bank accounts and connecting services.

  2. Legal representation: It is highly recommended that foreign buyers hire a local lawyer specialized in Spanish real estate law. They can navigate the complexities of the legal and tax implications and ensure that the transaction complies with Spanish law.

  3. Bank Account in Spain: It is generally necessary to open a local bank account for property transactions. Facilitates payments such as deposits, taxes and utility bills. Banks may have specific requirements for foreigners, which may include proof of income and identity verification.

  4. Property Search: The process of finding the right property may involve more research for foreign buyers. It is important to consider factors such as location, accessibility and potential for value appreciation. Real estate agents with experience in dealing with foreign buyers can be invaluable in this process.

  5. Understanding the Market: The real estate market in Spain can vary significantly from one region to another. Foreign buyers should familiarize themselves with local market conditions, including average prices, demand trends and future development plans in the area of interest.

  6. Mortgages and Financing: Obtaining a mortgage as a foreigner could have different requirements. Some Spanish banks offer mortgages to non-residents, but these could come with higher interest rates and require a larger down payment compared to resident buyers.

  7. Purchase Agreement: Once a property is chosen, a purchase agreement (earnest money contract) is typically signed and a deposit (usually 10% of the purchase price) is paid. This contract ensures that both the buyer and the seller are committed to the transaction.

  8. Due diligence: Conducting thorough due diligence is crucial. This includes checking the legal status of the property, making sure there are no outstanding debts or liens on the property, and verifying that all property taxes have been paid to date.

  9. Completion and Notary: The final step involves signing the deed of sale (escritura de compraventa) before a notary, a public official in Spain. At this time the remaining balance of the purchase price is paid and the buyer becomes the official owner of the property.

  10. Taxes and Fees: Foreign buyers should be aware of the various taxes and fees associated with purchasing property in Spain. These may include property transfer tax, VAT, notary fees and property registration fees.

  11. Post-Purchase: After purchasing the property, there are additional steps such as registering the property in your name, setting up utilities, and paying annual taxes such as real estate tax (IBI).

Average apartment prices in major Spanish cities vary considerably, reflecting the diversity and unique character of each city. Here's a general summary of what you can expect:

  1. Madrid: As the capital of Spain and one of the most important cities, Madrid offers a wide range of properties, from modern apartments in the city center to more affordable options on the outskirts. Prices can vary from approximately 3,500 to 6,000 euros per square meter, depending on location and amenities.

  2. Barcelona: Known for its rich culture and impressive architecture, Barcelona is another important city in the real estate market. Prices in desirable areas such as Eixample, Gràcia or near the beach can be quite high, ranging between 4,000 and 7,000 euros per square meter.

  3. Valencia: Offering an excellent quality of life with a lower cost of living compared to Madrid or Barcelona, Valencia is a popular choice. Here, apartment prices vary between 2,000 and 4,000 euros per square meter, with areas such as El Carmen and Russafa being particularly popular.

  4. Seville: This city in southern Spain is known for its history and culture. Prices in Seville are generally more affordable than in larger cities, averaging 1,800 to 3,000 euros per square meter.

  5. Malaga and Costa del Sol: Malaga and its surroundings on the Costa del Sol are known for their beaches and pleasant climate. Depending on proximity to the coast and amenities, prices can vary significantly, but in general, they range between 2,200 and 4,000 euros per square meter.

  6. Bilbao: In the north of Spain, Bilbao is famous for its culture and gastronomy. Prices here can vary from 2,500 to 4,500 euros per square meter, especially in central and well-connected areas.

  7. Canary and Balearic Islands: Spanish islands such as Mallorca, Ibiza and Tenerife offer a unique lifestyle, with prices that reflect their popularity and exclusivity. Prices can start from around 2,500 euros per square meter and go up significantly in more in-demand areas.

It is important to remember that these prices are approximate and may vary depending on factors such as exact location, condition of the property, views, amenities and size of the apartment. Additionally, the real estate market can fluctuate, so it is always advisable to conduct detailed and up-to-date research before making a purchasing decision.

Yes, it is possible to obtain a mortgage in Spain as a non-resident. In fact, many Spanish banks are prepared to offer mortgages to foreign buyers. However, there are certain aspects and conditions that you should take into account:

  1. Funding Percentage: Non-residents can generally obtain financing up to 60% to 70% of the property value or purchase price, meaning you will need a larger deposit compared to residents, who can often finance up to 80% or more.

  2. Type of interest: Interest rates for non-residents may be slightly higher than for residents. It is important to compare offers from different banks to find the best conditions.

  3. Required documentation: You will need to provide several documents to apply for a mortgage, including proof of income (such as payslips or tax returns), a credit history, details of assets and liabilities, and your NIE (Foreign Identity Number).

  4. Proof of Income: Banks will want to see that you have a stable and sufficient source of income to cover your mortgage payments. This may include income from employment, rent, investments or other sources.

  5. Solvency Analysis: As part of the process, the bank will carry out an assessment of your creditworthiness to ensure that you can afford the mortgage payments. This will include an analysis of your financial situation and your existing debt commitments.

  6. Life and Property Insurance: Some banks may require you to take out life insurance and property insurance as part of the terms of your mortgage.

  7. Additional costs: In addition to mortgage payments, you will need to take into account other expenses related to purchasing property in Spain, such as taxes, notary fees, registration fees and legal fees.

  8. Application Process: The process of obtaining a mortgage in Spain as a non-resident can take longer and require more paperwork compared to residents. Preparing and organizing the necessary documents ahead of time can help streamline the process.

  9. Professional advice: Given the complexity of the process and the differences in mortgage terms for non-residents, it is advisable to seek advice from professionals with experience in real estate and financing in Spain.

In summary, obtaining a mortgage in Spain as a non-resident is definitely possible, but requires careful preparation and consideration of the specific terms and conditions applicable to foreign buyers.

Buying an apartment in Spain, especially in an area as attractive as Oropesa del Mar in Castellón, offers a number of advantages compared to renting. Here are some reasons why you might consider purchasing as a more beneficial option:

  1. Long-term investment: When buying an apartment in Oropesa del Mar, you are investing in an asset that can appreciate over time. Unlike renting, where you pay for a space that will never be yours, buying allows you to build equity and benefit from potential property value appreciation in this coveted area.

  2. Stability and Security: Owning your apartment gives you a feeling of stability and security. You won't be subject to a landlord's decisions, such as unexpected rent increases or the possibility of having to move out at the end of your lease.

  3. Freedom to Customize: By owning your apartment in Oropesa del Mar, you have the freedom to personalize and modify your space to your liking. You can decorate, renovate, or make structural changes without having to ask a landlord for permission, which is a big plus.

  4. Predictable Expenses: Although purchasing an apartment involves an initial outlay and maintenance costs, in the long term, these costs are usually more predictable compared to renting, especially in a market where rental prices can fluctuate considerably.

  5. Prime location: Oropesa del Mar, in the province of Castellón, is a privileged location. With its beautiful coastline, stunning beaches, and pleasant climate all year round, buying an apartment here means enjoying a Mediterranean lifestyle in one of the most beautiful areas of Spain.

  6. Rental Potential: If you decide to buy an apartment in Oropesa del Mar, you also have the option of renting it when you are not using it. This area is very popular with tourists and visitors, which means you can generate additional income by renting out your property.

  7. Quality of life: Living in Oropesa del Mar offers an exceptional quality of life. With access to beaches, outdoor activities, a rich food culture and a welcoming community, it is an ideal place to live permanently or have a second home.

  8. Fiscal benefits: In some cases, buying a property in Spain can offer tax advantages, such as income tax deductions for investing in a primary residence.

  9. Sense of Community: By becoming a homeowner in Oropesa del Mar, you join a vibrant and diverse community. This sense of belonging and community is something that renting often cannot offer.

  10. Legacy for Future Generations: An apartment in Oropesa del Mar can be a valuable legacy for your children or family, ensuring not only a valuable asset but also a place full of family memories and happiness.

In conclusion, buying an apartment in Oropesa del Mar, Castellón, is not only a smart investment in financial terms, but also an investment in an enriching and satisfying lifestyle that far outweighs the advantages of renting.

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