Spanish Property: Buying an apartment in Barcelona

Foreign real estate is an excellent investment for Russians. Many citizens are interested in Spanish, Greek, Italian apartments for subsequent leasing. But beautiful Barcelona and other cities conquer tourists with their picturesque places and sights. Therefore, many people stay abroad, buy houses and apartments for permanent residence.

The state of the Spanish property market inspires optimism for potential buyers. The lowest price growth rates were observed in local cities about eight years ago. But even now there is no former rise in the value of houses and apartments. Russians are trying to find the most advantageous option in the shortest time, but analysts are sure that in the next five years you can take your time. Cardinal changes in the Spanish property prices are not expected. Housing will become more attractive from the investment point of view. According to the law, after five years of living in Spain, a Russian citizen can get permanent residence and another ten years to claim the citizenship of that country.

Spanish property can be conditionally divided into urban and resort. The latter enjoys special popularity among wealthy foreigners. Not everyone can afford a country house or villa in Marbella or the Balearic Islands. The property in Barcelona successfully combines the developed infrastructure with picturesque places and cultural sights. The Spanish government is not against foreign investors. On the contrary, Russians are always greeted with cordiality and offer optimal conditions for the purchase of real estate.

When choosing an apartment or a house in Barcelona, you need to think carefully about the financial side of the issue, take into account the additional costs. The final cost always includes the price of real estate, tax, notary and registration fees. For example, when buying a house or apartment for a hundred thousand euros will have to pay an additional 12-15 thousand euros. Another one percent of the cost of housing will be legal services. If foreigners plan to purchase real estate in the territory of Barcelona, you will need to open a bank account. The buying process can be divided into several stages. This is the choice of housing, the opening of an account, the signing of a preliminary and final agreement, registration of real estate.