Spanish real properties

About Spain

Useful infos
The current economic situation lowered the prices on the Spanish property market, the enormous price declines really should be capitalized! Market analysts concur that it is worth  buying Spanish properties.

Please note that the following real estate purchase advice are simplified and of general nature. Hereinafter we describe to you the process of acquisition of immovable property to provide you the most information.

In order to acquire an immovable property in Spain, a foreign citizen has to obtain the NIE number. This is a personal identification number for foreigners that may be requested at the local police station and is issued by the Ministry of Interior. This NIE number is required to open bank accounts and to get a loan from the bank, if necessary. In the current situation the Spanish banks grant a credit for 60-70% of the real estate value. In Spain, the properties are charged with  7% VAT (IVA), while for non-construction sites, commercial properties and  garages are charged with 16% VAT (IVA)

Other charges, notary 2-3%. Thus, we have to add to the net price of housing around 10% plus legal costs. The payment of these will be made together with the purchase price, when the sales agreement is concluded before a notary. It is not really mandatory, but in any case of purchasing a Spanish property you should resort legal aid. First, you must decide what financial terms you can accept in a purchase, or for what purpose you want to buy a real estate. Solely for expenditure, possibly using it as a second home. Then you can choose the best place and property for you. For the selected property you have to pay a deposit, which amounts to € 5000-10000 and is usually included in the purchase price. In every case the conclusion of the contract is made with a lawyer’s assistance before the notary public, and the payment must be made within 30 days after the signature, but in individual cases a different payment deadline may be given. The transaction entry may take up to 2-3 months. In Spain, you have to pay a property tax on an annual basis depending on the location of the property and its value. The monthly payment of common expenses, such as covering the garden and pool maintenance also have to be taken into consideration.

About 4 million foreigners set down in Spain in the last five years, and it is estimated that another 2 million will put the money in real estate in the next few years. And it should be noted that Spain is still one of the most popular destinations for tourists.


Travelling to Spain


Since Hungary joined the Schengen area in December 2007, Hungarian citizens can travel without border control and passport to Spain. However, everybody should have a photo ID (which may be either a passport or ID card) to prove identity in case of  possible checks. Children under the age of 14 do not possess identity cards, so they need to keep a passport on themselves.


Useful phone numbers


Emergency hotline number: 112
Police: 091
Ambulance: 092
dialing code for Spain: 0034th.
Hungary call: 0036.. . then the area code without 06


Spanish weather and climate

Spain is one of Europe’s hottest countries. Thanks to its vast extent and location, you can find all kinds of climate like: warm continental, oceanic, Mediterranean and sub-tropical climate. However, generally speaking, the places visited by tourists in summer are generally hot and often dry, the winters are mild, in autumn and spring with a  pleasant climate. However, in the Canary Islands here is a pleasant year-round warm weather. The best time therefore to visit Spain is in May, June or September, then you can avoid the extreme heat, and the crowd isn’t as large as in the peak season. The sea is still warm in September. For city tours the early autumn or late spring dates are the most appropriate.


Embassies

Hungarian Embassy in Madrid

Address: C / Angel de Diego Roldán, 21 28,016 MADRID
Phone: +34 91 413 98 50
Fax: +34 91 416 44 54
E-mail: consul@embajada-hungria.org
Business hours: Monday, Wednesday and Friday 10-12 hours.
Working hours on duty for urgent matters: +34 619 22 19 29
Consular District: The whole territory of Spain excepting Catalonia, Valencia and the Balearic Islands


Barcelona, Consulate General


Address: Av Diagonal 477, Planta 19. 08,036 Barcelona
Phone: +34 93 405 19 50, +34 93 405 33 62
After hours: mobile: +34 629-745-593
Fax: +34 93 419 46 08
E-mail: huconbcn@huconbcn.org
Consular district: Catalonia, Valencia, the Balearic Islands