Housing Guide: Is it Better to Buy or Rent Property in Spain?

1. Housing Guide: Is it Better to Buy or Rent Housing Guide: Is it Better to Buy or Rent Property in Spain Property in Spain? ? Homeownership on a Mediterranean coastline is everyone’s dream. But before Homeownership on a Mediterranean coastline is everyone’s dream. But before making an investment, it is necessary to find a perfect balance of short and long making an investment, it is necessary to find a perfect balance of short and long- - term housing needs to increase your term housing needs to increase your quality of living. You might be thinking about quality of living. You might be thinking about whether to buy or rent a property in Spain, read on to figure it out. whether to buy or rent a property in Spain, read on to figure it out. Spain is welcoming foreign buyers and rules for ex Spain is welcoming foreign buyers and rules for ex- -pats are quite straightforward. pats are quite straightforward. Also, the impact of the COVID Also, the impact of the COVID- -19 pandemic on Spanish pro 19 pandemic on Spanish property prices is yet to be perty prices is yet to be understood so it is important to know what’s actually happening in the market understood so it is important to know what’s actually happening in the market before making an investment. Narrow down your short and long before making an investment. Narrow down your short and long- -term goals to term goals to choose a suitable option. choose a suitable option. It is common to see ex It is common to see ex- -pats trying to rent in Spai pats trying to rent in Spain at least for a year before buying a n at least for a year before buying a home. It can be a smart way to find a good balance of new ways of living, get to home. It can be a smart way to find a good balance of new ways of living, get to know the location, and learn how to manage utility bills. You can know the location, and learn how to manage utility bills. You can find find real estate in real estate in Altea Altea ( (Inmobiliaria Altea Inmobiliaria Altea) ) and and properties for rent in Calpe properties for rent in Calpe ( (propiedades en alquiler propiedades en alquiler en Calpe en Calpe), but you need to make a good, long ), but you need to make a good, long- -term investment term investment plan to garner plan to garner significant returns. significant returns. Confused about whether to buy or rent property in Spain? Continue reading to Confused about whether to buy or rent property in Spain? Continue reading to gain in gain in- -depth knowledge and take the best step forward. depth knowledge and take the best step forward. Homeownership in Spain’s Mediterranean Coast Homeownership in Spain’s Mediterranean Coast

2. The level of homeownership is slightly The level of homeownership is slightly higher, with most residents owning a higher, with most residents owning a property and that too without any mortgage payments. Spain has suffered from a property and that too without any mortgage payments. Spain has suffered from a global financial crisis, which resulted in a drop in house prices but in recent years, global financial crisis, which resulted in a drop in house prices but in recent years, the market has become very stable. the market has become very stable. Although COVID Although COVID- -19 19 has adversely affected the market in 2020, the value of Spanish has adversely affected the market in 2020, the value of Spanish properties is expected to rise with newly properties is expected to rise with newly- -constructed buildings and second constructed buildings and second- -hand hand homes. You can find numerous housing options in the Spain region, from homes. You can find numerous housing options in the Spain region, from affordable apartments to small country h affordable apartments to small country houses, spacious villas, and luxurious ouses, spacious villas, and luxurious apartments with apartments with breath breath- -taking taking views. views. Rental Market in Spain Rental Market in Spain A number of ex A number of ex- -pats who visit Spain for a shorter period of time can opt for rental pats who visit Spain for a shorter period of time can opt for rental homes to live in the heart of the city without spending the entire fortune homes to live in the heart of the city without spending the entire fortune. You can . You can rent a one rent a one- -bedroom apartment or share a flat, the choice depends on which place bedroom apartment or share a flat, the choice depends on which place

3. you’re planning to live. If you’re looking to explore places in Calpe, Valencia, and you’re planning to live. If you’re looking to explore places in Calpe, Valencia, and Altea, it is going to be economical and rewarding. Altea, it is going to be economical and rewarding. Note that the minimum time per Note that the minimum time period of renting an apartment is from 6 months to a iod of renting an apartment is from 6 months to a year, depending on the landlord's and special privileges you get. Another crucial year, depending on the landlord's and special privileges you get. Another crucial thing is you need to pay one or two months’ rent as deposit and rent of the first thing is you need to pay one or two months’ rent as deposit and rent of the first month in advance, again depends on the lan month in advance, again depends on the landlord. dlord. If you’re considering a shorter stay in Spain, renting an apartment could be an If you’re considering a shorter stay in Spain, renting an apartment could be an appropriate option once you narrow down a high level of capital gains that can appropriate option once you narrow down a high level of capital gains that can offset the advantages of short offset the advantages of short- -term buying. term buying. Should You Buy or Rent a Property in Spain? Should You Buy or Rent a Property in Spain? Fa Factors you should be aware of before investing in real estate include property ctors you should be aware of before investing in real estate include property scams, risks involved, high capital gains tax, and fluctuations in the market. The scams, risks involved, high capital gains tax, and fluctuations in the market. The uncertainty caused by the COVID uncertainty caused by the COVID- -19 outbreak is giving a hard time to investors 19 outbreak is giving a hard time to investors and many are con and many are confused about whether to rent or buy a home on the Mediterranean fused about whether to rent or buy a home on the Mediterranean coastline. coastline. You might feel renting is an easier process and carries less paperwork but it all You might feel renting is an easier process and carries less paperwork but it all depends on what you’re seeking. You might be tired of renting and now want to depends on what you’re seeking. You might be tired of renting and now want to have your own place to have your own place to live. The choice is up to you, so decide wisely. live. The choice is up to you, so decide wisely. Conclusion: Conclusion: Spain’s diverse culture, rich traditions, locals, pleasant climate, and quality lifestyle Spain’s diverse culture, rich traditions, locals, pleasant climate, and quality lifestyle will make you fall in love right away. will make you fall in love right away.

4. If you wish you explore the beaches and city vibes for a shorter period of time, If you wish you explore the beaches and city vibes for a shorter period of time, renting is a suitable option for you. But if you wish you live permanently in this renting is a suitable option for you. But if you wish you live permanently in this region, having a bliss of homeownership is what you should focus on. region, having a bliss of homeownership is what you should focus on. CONTACT US CONTACT US Call: Call: 0034 0034 689 366 912 689 366 912 Address: Address: Calle Pintor Sorolla 18 Calle Pintor Sorolla 18 Calpe CP 03710 Alicante (Spain) Calpe CP 03710 Alicante (Spain) Email: Email: admin@calpe admin@calpe- -hamiltons.net hamiltons.net Website: Website: www.calpe www.calpe- -hamiltons.net hamiltons.net