Spain is a different nation sharing the Iberian Peninsula with Portugal at the western end of the Mediterranean Sea. It is the nation with the third-biggest number of UNESCO World Heritage Sites. Spain is viewed as a fascinating nation in Europe because of its wonderful atmosphere, friendly inhabitants, relaxed lifestyle, its cuisine, vibrant nightlife, and great beaches.
Spain is a surprise to those who have the image of having to fight for towel space at one of its crowded beaches or sipping sangria while watching a bull fight or flamenco. From the ancient monuments left by the Romans and Moors, the medieval castles of the interior, the white villages in inland Andalucía or the vibrant cities of Barcelona and Madrid, there is a great mixture of cultural attractions in Spain. The landscape varies just as widely. The evergreen estuaries of Galicia could hardly be more different from the deserts of Almería or the rugged mountains of the Sierra Nevada. And then there are the countless glittering beaches that dot the Spanish coast. Although busy in summer even along the coast of the big tourist Costas some enjoyable beaches can easily be found.
Living in Spain offers life in a modern country, which offers a well-developed infrastructure and a modern living environment. The pace of life is balanced and relaxed compared to other European countries and the climate is such that the outdoor resources can be enjoyed on a regular basis.
- Decide which possessions you will take to Spain, which you will leave behind and which items you can sell before you leave.
- Obtain estimates for the move from at least three removal companies.
- Purchase boxes, labels and bubble wrap. When you pack boxes, list the contents on a label.
- Make sure you have nothing on loan such as videos, library books and if so, return them.
- Have you anything at the dry cleaners or cobblers?
- Arrange moving date and confirm at least twice.
- Check all the details of your Spanish purchase. Confirm mortgage and lawyers.
- Make sure you have some cash for your journey and arrival in Spain
- Notify authorities, banks, building societies etc of your new contact details.
- Check any schooling arrangements for the children. See more about schools.
- Make arrangements for your pets travel and arrival. See more about pets.
- Check passports, travel tickets and car documents.
- Have you got travel insurance ? Have you a green card for your car insurance ? See about driving in Spain.
Presently is an awesome time to purchase property in Spain in case you're searching for a vacation home or planning a permanent move. For the first time in many years, Spanish property has turned out to be reasonable again with at some properties now offering really extraordinary value for money. Through the end of 2014, the normal cost of a home remained 30% below rates at the start of 2008, with costs in the trendier traveler ranges as much as 70% below their peak. That said, the market is showing signs of life, which means this might also be a good time to invest in Spanish property. You will be looking for different things depending on whether you are buying property as an investment that you will rent out, to use as a vacation home, or to live in permanently.
Purchasing as an investment implies you will search for properties that expansion in esteem and which can give rental income. Generally, this means you will be better off buying in vacation hot spots like the coasts and islands, or in big cities like Barcelona, Valencia, and Madrid. Apartments and villas in developments are generally the best option for this, as the grounds will be cared for and the presence of neighbours will help to keep your property safe. Purchasing in well known visitor zones will likewise make your property easier to rent if you want to earn income when you are not using it.
IBI is a property proprietorship tax set locally that extends from 0.4% to 1.1% of the valor catastral – the administrative value of the property, often lower than the market esteem. Owners might pay as little as 100 euro per year for a small country property, however an extravagant home in an expensive development on the waterfront in Marbella might cost as much as 3,000 euro per year.
Personal Income Tax – non-residents pay this tax based on the property they own in Spain. The individuals who don't lose their property and have no other Spanish income pay 25% of 2% of the valor catastral of the property. A property worth 500,000 euro, for example, would pay 25% of 10,000 euro, or 2,500 euro. Non-inhabitants who lease their property must pay taxes on the income generated, generally 25% of the gross income earned in Spain.
The new legislation waives the previous requirement of six months of residency. Candidates to the visa only need to have visited Spain once before applying. The permit gives financial specialists the privilege to live in Spain and travel freely inside of Spain as well as within the 26-countries in the schengen area.
Forecasts for both the economy and the real estate sector in 2016 provide an optimistic outlook.
In a world currently reporting weak growth, the Euro zone countries are better positioned than emerging countries, which are more affected by the downturn in China and the drop in the price of commodities. With this in mind, Spain's economic growth forecasts in 2016 continue to be among the highest in the Euro zone, between 2.7% and 2.8%, according to sources. The extremely high activity in the investment market over the past two years will be more toned down in 2016, but it will still be a busy year (8.5- 9.5bn). Forecasts have been adjusted to take into consideration the rise in uncertainty in the global economy and within Spain itself, due to the country's current political instability. After quick and strong yield corrections, investors are looking to achieve their expected returns via rental growth.
According to CBRE forecasts, housing prices will grow by circa 6% in 2016, with the Autonomous Communities of Madrid, Barcelona, Valencia and the Balearic Islands ahead of the rest. The supply of new build housing is drying up in the most sought after areas, due to the increase in demand for new-build housing. The marked increase in the number of building permit approvals would suggest there will be large amounts of investment and construction of residential housing. As an alternative to buying, the rental market continues to grow its market share, slowly but surely moving towards the Euro zone average. Spain is the 3rd most visited country in the world and its hotel sector is going through a golden age, with visitor numbers breaking records year after year. The rise in overseas tourists, but also the revival of national tourism, is behind the increase in hotel profitability. During recent years, stock remained flat, but the number of projects in the pipeline is on the up, especially in Madrid and the Balearic and Canary Islands. In Barcelona, however, the moratorium on new licenses for tourist accommodation is hindering the exploration of new projects. After a 2015 that registered record high investment volumes, it is expected that investor appetite will continue to remain very strong in 2016.
Cost of Living in Spain
The cost of living in Spain will very much depend upon on your lifestyle and where you live. If you seek luxury goods and fine dining you will find Spain very expensive but if you are prepared to eat and live like the locals you will find your money goes a lot further here than it does at home.
Housing costs can be very reasonable but are high in the cities and popular tourist areas. Utilities costs are high and can cost up to 20% more than the United Kingdom and the USA, especially if bottled gas is required. Food in Spain, on the other hand, is relatively cheap and provided you don’t dine out in tourist hotspots you will find the prices in restaurants reasonable.
Living in Spain: Expat Job and Career Prospects
Spain has a relatively high unemployment rate, which translates to high competition for jobs. Restrictive regulations regarding the employment of a foreign worker makes the situation worse and the employment opportunities for non-EU citizens are very limited. Even for those from the EU, a working knowledge of Spanish (Castilian) is usually required as too is a strong network, as a large percentage of jobs are found through personal connections. Job opportunities do exist however, for those who are looking for work in retail, restaurants/bars or teaching foreign languages.
Welcome to luxury living in the heart of Spain.The outskirts of Spain offer a rich variety of bespoke properties for your new life abroad.Search for rental property in Spain can be right decision.Home to sun, sea, beaches and tapas - and a long standing favourite with Brits - Spain holds strong as the most popular overseas destinations for holidaymakers and investors alike! The lure of the dream villa in Spain is still as strong as ever with more Brits having bought property in Spain in order to regularly holiday there or relocate permanently. With villas, fincas, apartments and larger houses for sale, there is a great range of property in Spain.According to report Renting a property in Spain is a good way to get to know the country and to decide which area you would like to live in. Just 17 percent of Spanish residents rent their home, and the market may seem more geared towards sales than rentals.