When Is The Best Time to Sell Property In Spain?
Selling a property implies many aspects to take into consideration, like when is the best time to do it, what’s the status of the Real Estate market, are the prices going up or down, and most important – is your property ready for sale?
Here are some of the most important things you should know if you’re considering to advertise your property for sale.
Is 2015 a good year to sell?
Real Estate specialists predict that that market in Spain will remain similar to last year, but the investors are still maintaining interest for property deals in the Costa del Sol and Spain in general.
Specialists also believe that more foreign investors will be attracted to the area due to the good currency rate against the euro. Nonetheless, all buyers including expats already living in Spain will seek good deals, discounts for properties or re-sales in key locations.
Estates transactions have been going good in the past few years as well, as Spanish property is considered to be at best value in Europe, foreign investors taking advantage of the crisis market drop in order to get a good deal which will certainly pay off if sold when the prices will be back up.
The whole market actually is already starting to recover: prices for new build properties are going down much slower, while re-sales appear to be more attractive.
What all this actually means is that the number of potential buyers could grow this year; the prices are maintaining their level, so 2015 is a good year to sell your property in Spain.
Get a realistic evaluation for your property
This should be one of the first things to do when selling a home. After looking around the competition and checking out similar properties to your own, you should find out how much yours is really worth. The easiest way to do that is contacting one of the best Marbella estates agents, they would be happy to assist.
After you have found out the estimated value of your home, look further and see where you can make improvements, what can be fixed, added or refurbished to make its value grow a bit? You would be surprised how much a new outdoor paint job will look to the eyes of the potential buyer. Plus, you might have to compete against re-sales which could be cheaper than your property, so make sure that viewers see the value of your property, make every cent count when they come to view your home.
Make sure all the documents are up to date
The rules and regulations in Spain can unexpectedly change at any time, so make sure all your property documents are up to date, all the taxes paid and everything is prepared in order to start listing it for sale.
What fees apply to sell property in Spain?
The selling process in Spain is quite similar to the acquisition process. There are a lot of taxes, currency exchange commissions and costs to be paid when selling. Fortunately, the information is widely available online just to make an idea about the actual costs to be expected, or speak to us here at Magna Estates.
- You can find out general data regarding properties in Spain on the Land Registry website (Directorate General for Cadastre) available in English and you can read the short guide about cadastre procedures.
If you have a Spanish speaking friend and all the details regarding your premises, you can easily calculate the fiscal property value on the Virtual Office of the Junta de Andalucía.
Other helpful online resources for sellers can be found at the The Olive Press.
If you’re not quite sure what you are doing, we strongly advise you to contact a lawyer you can trust to help you with all the taxes and paperwork which needs to be done. It will make things a lot easier with you.
To sum up in a few words: 2015 is a good year to sell! We don’t know what could happen in the next few years though, but if you’re decided, then you should act now.
Just remember these few steps: start the preparations early: get your paperwork up-to-date, make sure all the taxes are paid, see what you can improve to your asset, keep an eye on the market and get ready to post your property for sale.
