With so much uncertainty in the Spanish property market, buyers are unsure whether property prices reflect what is really happening or whether it is a case of political propaganda putting on a good face, forum gossip from disgruntled boom buyers, or simply optimistic price-setting amongst hopeful sellers. The picture is further confused by demand factors and international interests that create differing influences in each of the local property markets across the country. What is happening in Barcelona, Ibiza or the Costa Brava, for example, may not be what is happening in Madrid or Marbella. Expat influences in property also differ from the demands and influences of local buyers. “The … [Read more...] about Expats seize the day amid Spain’s property market uncertainty
Spain Expat
Avoiding the risk of Spanish property embargoes
Let’s take one particularly disturbing example of what can happen. Mrs Jones is a non-resident who used to own a property in Spain. In July, unknown to her, it went to property auction and was sold to a third party for a price of less than half its value. The reason? She had failed to pay her I.B.I (council tax) bill and combined with fines and interest she owed €1,700. What was perhaps even more worrying was that Mrs. Jones hadn’t a clue what was happening as she had not been in Spain to receive her mail and there was no one available to check her post box. The other means of informing her of her debt also passed her by. The Boletín official del estado is a list of debts and other … [Read more...] about Avoiding the risk of Spanish property embargoes
New rules raise requirements for applying for residency in Spain
Although the intention was clear, the exact means by which this would be proven, was not. The central Spanish government makes national policy but this is often interpreted at a regional as well as a town hall level. So what we are beginning to see is this latest dictate being interpreted in different ways in different parts of the country. In order to give some indication of what might be asked for if you do want to apply for Spanish residency we selected three areas local to our offices to illustrate. Murcia: Is not currently issuing residency certificates at all. The regional authorities are waiting for further national guidance. Torrevieja: In addition to the usual documents you … [Read more...] about New rules raise requirements for applying for residency in Spain
Disentangling Spain’s new medical prescription co-payment process
The new co-payments system has been functioning since July 1 and it is now clear that: Pensioners with an income below €18,000 pay 10% toward the cost up to a maximum of €8 per month. Pensioners with an income above €18,000 but below €100,000 pay 10% toward the cost up to a maximum of €18 per month. Pensioners with an income above €100,000 pay 10% toward the cost up to a maximum of €60 per month. Non-pensioners with an income below €18,000 pay 40% toward the cost with no maximum. Non-pensioners with an income above €18,000 but below €100,000 pay 50% toward the cost with no maximum. Non-pensioners with an income above €100,000 pay 60% toward the cost with no maximum. Your … [Read more...] about Disentangling Spain’s new medical prescription co-payment process
New co-payment scheme for Spanish medical prescriptions
This is the information we are aware of at the time of writing. On July 1 a co-payment system for prescriptions in Spain was introduced. Everyone now has to make a contribution towards the cost of medical prescriptions in Spain according to their income. This new co-payment system is being implemented in two stages: Stage 1 From July 1 anyone given a prescription in Spain should notice that it will include the percentage of the cost of the medication that they have to pay. This percentage will be taken from information about your income obtained from the annual resident tax declaration (IRPF). Anyone with an income greater than €18,000 a year will have to pay half the cost of the … [Read more...] about New co-payment scheme for Spanish medical prescriptions
Despite slump, Scandinavians still show interest in Spanish real estate
Sweden is one country where people still seem to be buying property in Spain, primarily as holiday homes. After all, with continuous darkness in some parts of Sweden during the winter months you can understand why buying a €60,000 to €120,000 house in the sun is such a desirable prospect. "The Swedish and Norwegians are definitely buying," says Oscar, a Swedish conveyancing expert at Ábaco. So for those interested in selling a property, what are they looking for? "They usually want somewhere that’s not too isolated and a property that is in good order. They like things to be tidy and to work. They are quite particular about what they’re buying and you can expect some searching … [Read more...] about Despite slump, Scandinavians still show interest in Spanish real estate
Embassies and consulates in Spain
Here we take a look at the differences between embassies and consulates and their functions. What does an embassy do? The function of the embassy is to protect the interests of a country in the country the embassy is located. Its activities might include: • Negotiating with the host country’s government • Promoting a good relationship between the two countries • Formulating methods of encouraging economic, cultural and scientific growth • Preparing treaties (commercial and political) • Organising state visits There is only one embassy of a particular country to be found in a host country and it is usually located in the capital city. Spanish and foreign consulates There can be … [Read more...] about Embassies and consulates in Spain
From abroad or in Spain? Obtaining a foreigner’s identification number
You need an NIE if you live in Spain. Your foreigner’s identification number (Número de Identificación de Extranjeros) is the key to everything from buying your home to collecting your mail. It can also be essential for the non-resident too. If you want to make a house purchase or you have been left Spanish property in a relative’s will you need an NIE to make the transaction. If you need to get an NIE as quickly as possible then you may prefer not to have to travel to Spain at all. Until 2011 it was possible to obtain a power of attorney in your home country which enabled someone in Spain to act on your behalf and obtain the NIE for you. However, in April 2011 a new regulation stipulated … [Read more...] about From abroad or in Spain? Obtaining a foreigner’s identification number
What will I be when I grow up…in Spain?
I left New Zealand just over a year ago. Probably permanently. And as I suspect is the case for many expats, moving overseas became an opportunity for personal reinvention. Flying out of Auckland, I wasn’t coming to Spain to reinvent myself. I was moving here with my Spanish wife, Yoly. But the temptation to start afresh is compelling. And moving so far from home is the ultimate chance to break with the past. So, two months after arriving in Madrid I became the new me. I gave up directing TV commercials, a job I didn’t enjoy in New Zealand or Spain, and I became a full-time writer. A bad cliché (and an even worse financial decision), I know. But within a few months of my rebirth, the … [Read more...] about What will I be when I grow up…in Spain?
Buying a home in Spain: Dealing with new property defects
The builder or developer has to take full responsibility for any defects, hidden or visible. The finished product is down to them whether it’s an electrical, plumbing or structural fault, though the claim period does vary depending on the extent and severity of the problem. For example, simple defects related to the finishing, such as doors and floor tiles are covered for one year, while structural defects relating to the safety, integrity and inhabitability of the property are covered for up to 10. It is important that you make your claim as soon as you can after spotting the defect. For structural claims your builder is required to take out insurance and may also have taken out … [Read more...] about Buying a home in Spain: Dealing with new property defects