One of the best ways to buy a cheap house in Spain is to buy an off-plan property. An off-plan property is simply a property that hasn’t been built yet, something that is on the rise in Spain. During the recent coronavirus crisis, the construction sector of new houses in Spain has taken a hit, never
With the current state of the property market, including certain instability after the coronavirus pandemic in Spain, people are looking for cheaper ways to purchase a house or flat in Spain, especially new constructions with larger surface areas and outdoor space.
You may have heard the term ‘snagging’ before and may be wondering what it means. Snagging is an informal expression used within the construction industry which is used to describe the process of defect identification and resolution on buying off-plan properties.
In 2019, Spain granted 681 "golden visas" to foreigners who paid more than 500,000 euros for the purchase of one or more real estate assets, according to data collected by one of Spain's main newspapers, El País. This figure is a record for the country.
The purchase and sale of housing in Spain by foreigners grew by a slight 0.5%, in comparision to the previous year, in the second half of 2019 to over 50,500 transactions, according to notaries in Spain, for an average price of 1,801 euros/m2.
The coronavirus crisis has seemingly not stopped the demand for home ownership in Spain. According to data from the Centre for Sociological Research (CIS) for the month of April, 9% of Spaniards are thinking of moving home, in line with the figure recorded at the beginning of the year.
The impact of the health and economic crisis caused by the COVID-19 pandemic is hitting the residential market hard: the way in which we buy, rent and sell property is changing and in general, the price of housing is currently frozen and most property sales are on hold.
You may have heard the term ‘Licence of First Occupation’ (LFO, for short) before and wonder what the fuss is all about. In Spain, an LFO is a big deal when you buy property, especially if it is off-plan.