Where should I buy?
Best areas to buy property on the Costa Blanca: Altea, Calpe, Benissa, and surrounding areas
If you've decided to purchase a property on the Costa Blanca, our Costa Blanca real estate experts will be happy to show you suitable properties along the entire coast, the Marina Baja, the Marina Alta, and inland. This way, you're sure to find the perfect location to begin your real estate search.
Whether it's a townhouse in Calpe, a luxury villa in Altea Hills, or a house in the charming old town of Altea, we are the right real estate agency to competently advise you throughout the purchase process.
What type of property should I buy?
Property Types on the Costa Blanca: Villas, Apartments, Chalets, and Houses for Sale
It depends on your lifestyle, your goals, and the objectives you associate with your dream home. Whether it's a small apartment, a spacious villa for your retreat, a future-oriented investment property, or your new permanent residence in Spain, we discuss all your ideas and then, of course, find the right properties depending on your personal budget.
Reservation of a property
Property Reservation Process on the Costa Blanca: Steps and Purchase Security
After the buyers and sellers have agreed on the price and purchase period, both parties sign a private reservation contract, which typically involves a 10% down payment for the buyer.
The property is then withdrawn from the market until the notary signs it, and the sales contracts can be prepared in collaboration with your lawyer and the notary.
Purchase and Option Contract
Purchase Agreement and Earnest Money Deposit for the Purchase and Sale of Property on the Costa Blanca
After reviewing all the necessary documents, the buyers and sellers sign a binding private purchase agreement or option (including earnest money deposit). With the payment of a 10% deposit of the purchase price, this private purchase agreement becomes legally binding.
Completion of the sale in front of a notary
Signing the public deed before a notary for property purchases on the Costa Blanca
Once you have signed the public deed together with the seller before a notary, the final purchase price has been paid and the buyer takes possession of the property free of encumbrances.
What costs or taxes are incurred when buying a property?
Costs and Taxes When Buying a Property on the Costa Blanca
Costs depend on the agreed purchase price, applicable taxes, and any mortgages. In all cases, you should factor in the following costs:
· Real Estate Transfer Tax: 10% of the purchase price
· Notary and Property Registry Tax: This is determined by law and is tiered according to a rate generally ranging from 0.5% to a maximum of 1.5% of the purchase price.
· Lawyer's Fees: Depending on the work requested. Please note that these fees can vary considerably depending on the law firm you choose. Generally, they should not exceed 1% of the purchase price; with some lawyers, you can also agree on a fixed cost amount.
· Mortgage Rates: Since these vary constantly, you should check with your bank. We can also advise you there if you wish.
After Sale Service
Taxes after buying a property in Spain: IBI (Property Tax) and non-resident income tax
As a property owner in Spain, you must pay an annual property tax (IBI). The amount of this tax depends on the property's value and varies depending on the responsible municipality. Income tax for non-residents (i.e., those who do not have permanent residence in Spain).
If you rent your property professionally, you will generally have to pay income tax of 24.75% on the accumulated profits.