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The process of purchasing a property in Spain
How can I find out the market price of a spanish property?
For a detailed analysis value of a property in spain you should hire an appraiser. They will charge you roughly 300 euros (depending on the value of the property). The appraiser uses two approaches to calculating the value of a property:
They will measure the property to draw up a floor plan and calculate the square meters, then multiply this by the value per square meters in the area. This value then gets adjusted by a number of factors, such as whether the house can be moved into right away or needs renovation.
They will also find similar properties that have been sold in the area recently.
Regarding price per square meter for apartments, make sure whether you're dealing with m2 construido (constructed) or with m2 util (usable). Construido includes common space: stairs, air shafts, walls, etc. The difference between the two numbers can vary widely, but on average m2 construido is 27% more than m2 util.
If you're getting a mortgage, the bank will require you to pay for an appraisal, though they choose the appraiser. This step comes after you pay the downpayment on the property, though, so if your offer is significantly higher than the appraiser's value, you'll lose this downpayment if you back out now. For that reason, you might want to pay for your own appraisal before paying the downpayment. Some of the largest appraisers:
Tinsa
Sociedad de Tasacion
TasaMadrid
TecniTasa
The following sites can give you a good idea of the value of a property:
Sociedad de Tasacion
An appraisal company. Their site has the current price-per-square-meter of
new properties sold in all the cities of Spain, as well as the change in
price from the prior year.
idealista.com
This large post-your-own-property site has begun to branch out beyond Madrid
and Barcelona. Their reports gives detailed stats on used properties in these
two cities.
Cambalache
Another large listing of used properties for sale. No reports, but a good place
to get an idea of prices.
Faqs
How can I find out the market price of a spanish property?
If I'm buying a spanish property can I save on taxes by creating a company?
What information should I get from my spanish property agent?
Are spanish property agencies regulated?
When I sell my house in spain, are there any required inspections?
What is the trend in property prices in Spain?
The content on this page was kindly provided by Strong Abogados. If you need legal advice or help with property, employment or company law in Spain please visit their web site at www.strongabogados.com
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