Real estate: Buying a property in the sun?
Advice from the Swixim international network
Whether you want to enjoy a peaceful retreat in the sun, to benefit from a more advantageous tax system or simply to acquire a second home of standing but at prices more accessible than on the national territory, many Switzerland decided to acquire a property abroad. However, before taking the plunge, it is essential to prepare well to avoid unpleasant surprises... In order to avoid disappointment for future owners, the international Swixim network, recognized since 2005 as a quality brand in real estate services, provides below some tips for buying well abroad.
Buy in Portugal
The climate, the access to the main cities, the attractive real estate prices and the cost of living in a global way seduce many of our compatriots, who choose to acquire their second home there. Thus, it is mainly the sectors of Algarve, Lisbon and Porto that attract foreign buyers, whether for a villa, an apartment in a second home, or for rental investment.
In Portugal, a sale can last between three and four weeks, depending on how the property is financed. In this context, it is particularly recommended to enlist the services of a specialized lawyer, who will check beforehand the conformity of the property and allow the buyer to avoid unpleasant surprises... The signing of the promise to purchase or CPCV is done in collaboration with the latter.
Lusitanian territory can indeed reserve some traps for foreign buyers. In Portugal, the claims of the seller are transferred to the buyer. That is, if the seller has debts and they are included in the value of the property (mortgage for example) then they pass to the buyer after the signing of the deed of sale. Therefore, before drawing up the contract of sale, a specialized lawyer will draw up a complete inventory of the debts transmitted to the purchaser. He will check the status of the subrogation with a specialized establishment, and determine the amount of the deposit for the purchase of the property. Once all the elements are in place, he will set a signature date for the notary.
In addition, by using a specialized lawyer, a foreign buyer will avoid another trap, unfortunately very common in Portugal: the purchase of an illegal property (a house that has never obtained a building permit for example). When buying, it is also important to take into account the various related taxes... Thus, progressive transfer duties vary between 1% and 8% of the total price of the property.
Buy in Spain
On the other side of the Pyrenees, the Spanish territory also has enough to seduce foreign buyers, attracted in particular by the possibility of acquiring exceptional properties half cheaper than on the Côte d'Azur... As an indication, for an apartment on the Costa Blanca, it is possible to find very interesting offers from 130,000 euros, but it will take a budget of 250,000 euros minimum to have a view of the sea. The average budget for a house is between 350,000 and 450,000 euros. First of all, to be able to buy a property in Spain, two steps must be taken:
• Obtaining your N.I.E. (Foreign Identification Number). This can be done at the local police or consulate. To obtain this registration, it takes about four to six weeks.
• The opening of a bank account in a Spanish institution, in order to facilitate transfers and the settlement of various charges (water, electricity...).
About Swixim International:
Founded in Geneva in 2005, the Swixim International network is anchored and has drawn its values from the shores of Lake Geneva. With 250 agents in Switzerland and Europe, Swixim International offers services and guarantees with high added value to buy, sell, rent, manage residential properties
As entrepreneurs committed to success and passionate about real estate, the Agents of the network stand out by offering a unique customer experience, proven by 97% of satisfied customers.
For more information, visit our website: www.swixim.com
Contacts Press:
Swixim International- Nathalie Caminati – Tel: 022 347 44 42
DELVAL RP - Laurence DELVAL - laurence.delvalrp@gmail.com
