ANNOUNCEMENT 17 January 2023 After months of preparation, I launched The Spanish Property Expert on RUclips at the beginning of 2020, unaware of the impending global pandemic. Despite the challenges presented by lockdowns, I persevered with the channel. However, as the pandemic progressed, I had to redirect my energy towards more immediate sources of income and could no longer devote my time and energy to the channel. I left existing videos live on RUclips as they were still receiving positive feedback and seemed useful to viewers. As a result, over the past couple of years, the traffic to these videos has remained steady and the feedback consistently positive. Given the clear demand for such a channel, I am excited to announce the launch of "Spain Unfiltered" in 2023. This new channel will continue to provide quality, honest advice about Spanish property, while also expanding the scope to include a wider range of topics, such as locations in Spain, relocation, and visas, as well as insights into Spanish history and culture. My goal is to provide an unfiltered look at Spain, giving viewers an authentic and well-rounded understanding of the country, its culture, and its property market. I am committed to providing valuable and informative content that will help viewers make informed decisions about purchasing or relocating to Spain. Be sure to subscribe to my channel to stay updated on the relaunch and new content. You can also register on the new website to be notified when it goes live, so you'll be the first to know when new content is released. www.spainunfiltered.com Thank you for your support, and I can't wait to share my new and exciting content with you!
Thanks for the informative video. We are moving to Alicante in July of 2023. Goal is to rent for a short period, while we look for a place to buy. We are planning on buying in Calpe, Spain, while living in Alicante. Great video. Looking forward to discovering more. Thanks!
Good luck !! We are from Florida and thinking of moving to Spain in Spring of 2024. Not sure where but non of the major cities and mild winters a must. A friend from Barcelona, says that from Valencia Northwards it gets super humid in the summer.
Great video….I am closing tomorrow on an apartment I bought in Catalunya, 3 years process because it was new construction and COVID in between, I was lucky to put 20% down before they broke ground so I got a great deal (foreigners have to pay at least 30% of the asking price plus taxes), 3 months ago the Bank upraised the unit and it came-back €28.000 over the price I paid. The builders allowed me to make some changes but it was not an easy task, Loan process was slow and a lot of bureaucracy, with August in the middle I had to wait 5 weeks for someone to draw the final loan paperwork for me to accept it, you need to chase them around so things get done; get a lawyer who can help you get the NIE and represents you during the closing process, mine also does property/income taxes so I’ll be seeing his face for years to come, in the end I am super happy with my purchase but I aged a lot dealing with them. Be very patience………
Hi Cali - good to know that foreigners not resident in Spain has the right to get a loan. I’m living in UE country and I have a residency permit in there where I pay my taxes. I assume that I can also get a loan from a Spanish banks?
@@zibdalogique8650 Definitely, being a UE resident will make things easier but keep in mind that there is a lot of bureaucracy in the process so be very patience and keep everybody in the loop: your lawyer, the Real Estate people and the lender so everybody is on the same page and the closing process will be smoother. My process got delayed a few weeks because of the summer vacation and the lending process was at stopped for 3-4 weeks because there was nobody to approve the loan. Be aware of all the paperwork you will need to get the utilities turned on because that takes a few weeks as well, I am used to the US where you can do everything over the phone and get service within a day in not less. Good luck.
Hi There, Take a look at this free resource on my website. It tells you all about the associated costs and how to save money www.thespanishpropertyexpert.com/the-series/how-to-budget-for-your-perfect-spanish-home-without-making-very-expensive-mistakes/
Thanks Delaphine! I am going to be doing some new things this year, including a live zoom webinar every Wednesday. If you have questions you want answering, you can sign up on my website: www.thespanishpropertyexpert.com Hope to see you there!
Thank you for the valuable information. Do you have any idea how much will an agent or the agency charge to look after my property. Including renting, maintenance, cleaning etc? I am planning to invest on a property in la mata.
Hi Evangelia. The Canaries, like all the autonomous regions, have some differences in taxation rules, but the general process of purchasing is the same. The Guide to buying on my website includes all the tax rates for every region. www.thespanishpropertyexpert.com/ultimate-guide-to-spanish-property-costs/
If I buy a empty land of 50 acres with cave ruins for animal shelter what would be the expect annual tax to be paid or calculated ? The value of the property is 90k Euro for a Non-Resident Option a) I just keep it as it is and visit it once a year Option b) I do some agricultural activities like planting trees with a view to harvest after 15 years
Sorry VP. I missed the notification on this. You can take a look at the costs guide on my website (see link below), while it is aimed at residential property, you will find information about running costs as a resident and a non-resident. Commercial activity will be subject to personal income taxes and to assess them you will need to speak to an Asesor Fiscal (accountant). Please be aware that purchasing rustic land (which I assume is the case here) is not without risks. Make sure that you take proper legal advice from a local solicitor to find out exactly what you can and cannot do with the land. www.thespanishpropertyexpert.com/ultimate-guide-to-spanish-property-costs/
Thanks for the great video !! We are from the US. To move to Spain (with a Digital Nomad Visa ? ) do we also need to apply for Residency ? Citizenship ? (My ancestors were Spanish. Three of us (wife, mom and myself). Thanks !
Hi Paolo. Thanks, I'm glad you enjoyed the video! There's lots in the pipeline now, including a video about immigration, visas (including the golden visa and digital nomad visa) and residency. If you are planning to live full time then you will need a visa and residency, it's not necessary to become a citizen however it is a option later down the line if you choose. There are a lot of factors that will effect what is best for you, including income, wealth, whether or not you will be working so it's impossible to give you advice here, however if you drop your details into my website using the link below I will be able to respond and help you better. spainunfiltered.com/about-spain-unfiltered/ Thanks James
Yes, there are some differences. Some taxes are set at a regional level and so the costs can vary depending on the region. There are also some variations in local practices. For example, in most places it is normal for the vendor to pay agents fees, sometimes fees are payable by both parties). You can find everything you need to know about taxes in my free budgeting course. To find out how things are done locally I would suggest talking to a few different agents in the area and ask how they work. www.thespanishpropertyexpert.com/the-series/how-to-budget-for-your-perfect-spanish-home-without-making-very-expensive-mistakes/
My wife's Spanish. Was thinking about putting property in her name. Any idea how that would impact initial taxes? She already owns one flat in Spain. Many thanks
Hi Harry, sorry for the slow response, I have been away over Christmas. In short, nationality doesn't affect purchase taxes, although it does effect some other smaller purchase costs such as needing a translator, NIE numbers etc.) The key difference is residency, both in terms of the country you are fiscally resident in, whether that country is an EU member or a third country like the UK, and whether the property is your primary or secondary residence. Again these factors won't affect purchase taxes however it can affect rates on rental income and capital gains tax on selling as well as the expenses that you can set against those taxes. This all needs to be considered before purchasing. You will also need to consider inheritance tax (which is set at a regional level. You may find that if your wife passed away before you, you would be liable for inheritance tax on the whole property (less any tax free limit). I will be making detailed videos about purchase costs in the coming months however with so many variables I would recommend that you speak to a qualified advisor in the area that you wish to purchase so that they can look at your specific circumstances and advise you based upon the rates in that autonomous community. Have a happy new year!
@@Spainunfiltered many thanks for your detailed informative reply, super helpful. I was planning on renting it so will affect the margins considerably. Yes it feels like they gear their system to prevent multiple landlords living off others rent like the case here in the UK- not a bad idea in all honesty. Will keep my eyes peeled for your upcoming videos. Thanks again
@@harryleedham8387 No Problem! Yes, the rental market is far more geared towards the tenant than the landlord when compared to the UK. If you are UK resident (ie non EU) you will pay a higher rate of tax on the rental income and, perhaps more significantly, you will not be able to put expenses against that income. You will also need to employ a fiscal representative to submit your yearly taxes and, as it is not a primary residence, you will pay capital gains when you sell. I would do my maths very carefully. Also bear in mind that tenant's rights are a lot stronger than the UK. Once someone is settled it can be very hard to take back possession of the property if you want to. If you are looking at short term holiday lets, the taxes apply in the same way, however you will need to look into what you need to do to get a tourism licence in your area.
I just can’t understand that anyone would pay so much for a used holiday home, it’s not better than a used car. 20-30 years old and more. When there are brand new homes for almost the same price and with warranty ! Old things always need DIY and that is so expensive these days both material and labor.
There are thousands who would agree with you, but there are millions of Spanish homeowners who would disagree. Buying a property is Spain is not madness, but doing so for the wrong reasons, or without making sure that you are fully informed of the law surrounding buying and owning the property, or without properly researching the location and property you are buying is at the very least foolish.
ANNOUNCEMENT 17 January 2023
After months of preparation, I launched The Spanish Property Expert on RUclips at the beginning of 2020, unaware of the impending global pandemic. Despite the challenges presented by lockdowns, I persevered with the channel. However, as the pandemic progressed, I had to redirect my energy towards more immediate sources of income and could no longer devote my time and energy to the channel. I left existing videos live on RUclips as they were still receiving positive feedback and seemed useful to viewers. As a result, over the past couple of years, the traffic to these videos has remained steady and the feedback consistently positive.
Given the clear demand for such a channel, I am excited to announce the launch of "Spain Unfiltered" in 2023. This new channel will continue to provide quality, honest advice about Spanish property, while also expanding the scope to include a wider range of topics, such as locations in Spain, relocation, and visas, as well as insights into Spanish history and culture. My goal is to provide an unfiltered look at Spain, giving viewers an authentic and well-rounded understanding of the country, its culture, and its property market.
I am committed to providing valuable and informative content that will help viewers make informed decisions about purchasing or relocating to Spain. Be sure to subscribe to my channel to stay updated on the relaunch and new content.
You can also register on the new website to be notified when it goes live, so you'll be the first to know when new content is released.
www.spainunfiltered.com
Thank you for your support, and I can't wait to share my new and exciting content with you!
I would highly recommend renting for 6 months before commiting to purchasing... Spend those months searching and familiarising.
Great video. Teaches how to be intentional about approaching a purchase. 🙏🏼 Thank you.
Thank You!
Thanks for the informative video. We are moving to Alicante in July of 2023. Goal is to rent for a short period, while we look for a place to buy. We are planning on buying in Calpe, Spain, while living in Alicante. Great video. Looking forward to discovering more. Thanks!
Good luck !! We are from Florida and thinking of moving to Spain in Spring of 2024. Not sure where but non of the major cities and mild winters a must. A friend from Barcelona, says that from Valencia Northwards it gets super humid in the summer.
Great video….I am closing tomorrow on an apartment I bought in Catalunya, 3 years process because it was new construction and COVID in between, I was lucky to put 20% down before they broke ground so I got a great deal (foreigners have to pay at least 30% of the asking price plus taxes), 3 months ago the Bank upraised the unit and it came-back €28.000 over the price I paid. The builders allowed me to make some changes but it was not an easy task, Loan process was slow and a lot of bureaucracy, with August in the middle I had to wait 5 weeks for someone to draw the final loan paperwork for me to accept it, you need to chase them around so things get done; get a lawyer who can help you get the NIE and represents you during the closing process, mine also does property/income taxes so I’ll be seeing his face for years to come, in the end I am super happy with my purchase but I aged a lot dealing with them. Be very patience………
Hi Cali - good to know that foreigners not resident in Spain has the right to get a loan. I’m living in UE country and I have a residency permit in there where I pay my taxes. I assume that I can also get a loan from a Spanish banks?
@@zibdalogique8650 Definitely, being a UE resident will make things easier but keep in mind that there is a lot of bureaucracy in the process so be very patience and keep everybody in the loop: your lawyer, the Real Estate people and the lender so everybody is on the same page and the closing process will be smoother. My process got delayed a few weeks because of the summer vacation and the lending process was at stopped for 3-4 weeks because there was nobody to approve the loan. Be aware of all the paperwork you will need to get the utilities turned on because that takes a few weeks as well, I am used to the US where you can do everything over the phone and get service within a day in not less. Good luck.
Very good advice!
Thank you!
Really useful information. Thanks for posting this 👍🏻✅
never realised there were extra costs like maintenance etc. i will have to re think , but thanks for the valuable information
Hi There, Take a look at this free resource on my website. It tells you all about the associated costs and how to save money www.thespanishpropertyexpert.com/the-series/how-to-budget-for-your-perfect-spanish-home-without-making-very-expensive-mistakes/
Thanks for this!
Very useful, thanks you.
What a wonderful video! Thank you!
Thank you Theodore. I'm glad you enjoyed it. I am working hard on a lot more content so please do watch this space!
It really is the most complete video I have seen. Compliments
Super interesting about the options on Trovit! So great to know! Thanks! Subscribed, liked and notifications on! 👍
thank you for the video,
No problem, I hope it was useful!
Very informative. I look forward to the next video.
Thanks Delaphine! I am going to be doing some new things this year, including a live zoom webinar every Wednesday. If you have questions you want answering, you can sign up on my website:
www.thespanishpropertyexpert.com
Hope to see you there!
Great advice James , thank you very much 👍
Hello, was looking to buy in Spain before Brexit and have since given up! Is there any chance you could update your guidelines?
Thank you for the valuable information. Do you have any idea how much will an agent or the agency charge to look after my property. Including renting, maintenance, cleaning etc? I am planning to invest on a property in la mata.
Do you have videos specifically for the Canary islands?
Hi Evangelia. The Canaries, like all the autonomous regions, have some differences in taxation rules, but the general process of purchasing is the same. The Guide to buying on my website includes all the tax rates for every region.
www.thespanishpropertyexpert.com/ultimate-guide-to-spanish-property-costs/
If I buy a empty land of 50 acres with cave ruins for animal shelter what would be the expect annual tax to be paid or calculated ? The value of the property is 90k Euro for a Non-Resident
Option a) I just keep it as it is and visit it once a year
Option b) I do some agricultural activities like planting trees with a view to harvest after 15 years
Sorry VP. I missed the notification on this.
You can take a look at the costs guide on my website (see link below), while it is aimed at residential property, you will find information about running costs as a resident and a non-resident. Commercial activity will be subject to personal income taxes and to assess them you will need to speak to an Asesor Fiscal (accountant).
Please be aware that purchasing rustic land (which I assume is the case here) is not without risks. Make sure that you take proper legal advice from a local solicitor to find out exactly what you can and cannot do with the land.
www.thespanishpropertyexpert.com/ultimate-guide-to-spanish-property-costs/
Thanks for the great video !! We are from the US. To move to Spain (with a Digital Nomad Visa ? ) do we also need to apply for Residency ? Citizenship ? (My ancestors were Spanish. Three of us (wife, mom and myself). Thanks !
Hi Paolo. Thanks, I'm glad you enjoyed the video!
There's lots in the pipeline now, including a video about immigration, visas (including the golden visa and digital nomad visa) and residency.
If you are planning to live full time then you will need a visa and residency, it's not necessary to become a citizen however it is a option later down the line if you choose.
There are a lot of factors that will effect what is best for you, including income, wealth, whether or not you will be working so it's impossible to give you advice here, however if you drop your details into my website using the link below I will be able to respond and help you better.
spainunfiltered.com/about-spain-unfiltered/
Thanks
James
Very interesting
Is there a difference buying in different regions ie basque area ?
Yes, there are some differences.
Some taxes are set at a regional level and so the costs can vary depending on the region.
There are also some variations in local practices. For example, in most places it is normal for the vendor to pay agents fees, sometimes fees are payable by both parties).
You can find everything you need to know about taxes in my free budgeting course.
To find out how things are done locally I would suggest talking to a few different agents in the area and ask how they work.
www.thespanishpropertyexpert.com/the-series/how-to-budget-for-your-perfect-spanish-home-without-making-very-expensive-mistakes/
My wife's Spanish. Was thinking about putting property in her name. Any idea how that would impact initial taxes? She already owns one flat in Spain. Many thanks
Hi Harry, sorry for the slow response, I have been away over Christmas. In short, nationality doesn't affect purchase taxes, although it does effect some other smaller purchase costs such as needing a translator, NIE numbers etc.) The key difference is residency, both in terms of the country you are fiscally resident in, whether that country is an EU member or a third country like the UK, and whether the property is your primary or secondary residence. Again these factors won't affect purchase taxes however it can affect rates on rental income and capital gains tax on selling as well as the expenses that you can set against those taxes. This all needs to be considered before purchasing. You will also need to consider inheritance tax (which is set at a regional level. You may find that if your wife passed away before you, you would be liable for inheritance tax on the whole property (less any tax free limit).
I will be making detailed videos about purchase costs in the coming months however with so many variables I would recommend that you speak to a qualified advisor in the area that you wish to purchase so that they can look at your specific circumstances and advise you based upon the rates in that autonomous community.
Have a happy new year!
@@Spainunfiltered many thanks for your detailed informative reply, super helpful. I was planning on renting it so will affect the margins considerably. Yes it feels like they gear their system to prevent multiple landlords living off others rent like the case here in the UK- not a bad idea in all honesty. Will keep my eyes peeled for your upcoming videos. Thanks again
@@harryleedham8387 No Problem! Yes, the rental market is far more geared towards the tenant than the landlord when compared to the UK. If you are UK resident (ie non EU) you will pay a higher rate of tax on the rental income and, perhaps more significantly, you will not be able to put expenses against that income. You will also need to employ a fiscal representative to submit your yearly taxes and, as it is not a primary residence, you will pay capital gains when you sell. I would do my maths very carefully. Also bear in mind that tenant's rights are a lot stronger than the UK. Once someone is settled it can be very hard to take back possession of the property if you want to.
If you are looking at short term holiday lets, the taxes apply in the same way, however you will need to look into what you need to do to get a tourism licence in your area.
I just can’t understand that anyone would pay so much for a used holiday home, it’s not better than a used car. 20-30 years old and more. When there are brand new homes for almost the same price and with warranty ! Old things always need DIY and that is so expensive these days both material and labor.
New houses cost loads more in Spain
you have to be mad to buy property in spain!!!!! do not do it!!!!!!!!!!!!!!!!!
There are thousands who would agree with you, but there are millions of Spanish homeowners who would disagree. Buying a property is Spain is not madness, but doing so for the wrong reasons, or without making sure that you are fully informed of the law surrounding buying and owning the property, or without properly researching the location and property you are buying is at the very least foolish.
What a stupid comment