You can expect above average returns from investing in the off-plan properties being identified by Costacalidad. Why that?

• Almost all of our properties are priced below its actual market value and you literally buy your property at a discounted price. With Costacalidad you can profit from aggressive pre-construction pricing of the developers and a (often scheduled) increase in value during the construction period.
• Usually you only need to find funds for 40% of the sales price until completion. The resting 60% can be easily financed with a mortgage from a local bank. Now also interest only mortgages are available in Spain.
• With most of the companies you can sell your property on to a lifestyle buyer during construction and benefit from pre-scheduled price increases from the developer
• If you decide to complete on your purchase you will see that even bigger profits on your investment can be achieved after a couple of years due to the mature status of the resort and its grown desirablility. Don´t forget that a luxury hotel from a major hotel chain like Intercontinental, De Vere or Hyatt together with a top golf course by one of the world's most famous designers like Jack Nicklaus, Dave Thomas, Greg Norman etc. mean a continuous attraction to potential buyers of your well kept residencial home throughout the years.

 

Costacalidad makes buying a property in Spain easy

	off-plan	option (buying someones contract)	resale
deposit	€3000 - €6000 (depending on the established rules of the developer)	€3000	€3000
private contract	with builder	with contract seller	with private owner
open Spanish bank account	yes	yes	yes
meet solicitor	recommendable	recommendable	recommendable
stage payments	usually 25% after 1 month, another 15% approx. 6 months later	agreed price minus outstanding payments to builder is placed on the solicitors client account and will be released when contract is changed in new buyers name	usually a 10% transfer (minus deposit) within 10 days after private contract
balance on completion	60% on day signing the title deeds		90% on day signing title deeds
public title deeds	yes, usually 1 or 2 years after puchase	usually some months after private contract	yes, usually within 60 days after private contract
registration of your property	yes	yes	yes

A sale is formally completed and possession given to the buyer when both parties, the buyer and the seller or their authorized representatives sign the public title deeds in front of a public notary. Prior to this act you will inspect the property and the final payment has to be done. Of course Costacalidad and your lawyer will assist you.

Find more information on the buying procedure and on legal assistance here.

 

Costs involved in purchasing a property

There are, in principal, three fees and two taxes to pay when purchasing a property in Spain. Allow around 10% of the purchase price to cover these costs involved in buying a property in Spain.

• Notary & Land Registry Fees:  approximately 1-2% of the purchase price, payable on completion.
• VAT (IVA) or transfer tax (ITP): ITP applies to resale properties only. IVA applies to off-plan properties. Both are currently at 7%. Stamp duty (AJD) of 1% is payable when purchasing off-plan and is due on completion. Resale buyers should bear in mind the Plus Valia, an added value tax based upon the increase of the town hall index value of the land only, from the prior (vendor's) purchase to the present sale. The tax corresponds in principle to the seller, but, in common practice, is often paid by the purchaser. As there are several variable factors used in calculating this tax (area of land, location, building volume permitted, period of ownership of the vendor), the amount payable can vary substantially and should be verified before proceeding with the purchase.
• Legal fees: up to 1% of the purchase price

We assist you in setting up bank a account. We assist you to obtain the N.I.E. (Spanish tax idenity number), imperative when purchasing property.