How to buy property in Barcelona
Do you want to buy property in Barcelona, but do not know how to go about it? Would you like some help in searching for the perfect apartment or investment property? Do you need to get a NIE or open a Spanish bank account and don’t know how?
If so, Casamona International can help ! As an international agency, we speak English and have employees who speak other languages from around the world. All contracts and agreements can be in English . Read more below.
To buy property in Barcelona, the first step to consider is the total purchase cost of and whether you will need financing in Barcelona or your home country.
- The purchase price
- Notary fees: €500 – €1000
- Transfer tax: 10 % of the purchase price, (paid within 20 days after he appointment with the notary)
- Registration taxes : €1500 – €2000
- If you need legal assistance with the buying process, this fee will be roughly 1% of the buying price
You want to buy property in Barcelona for €100.000 and you are above the age of 32. The apartment itself costs €100.000, however due to the transfer tax you will have to add another 10% to the value. The final price, including the costs of a notary and registration taxes, will be around €112.000 for acquiring the property.
2. Financing: Before looking for a property you need to know how you will finance it.
- Purchase in cash: It is possible to buy property in Barcelona by transfer or bank check.
- Getting a mortgage in Spain:
If you are NOT a Spanish citizen, there can be difficulties getting a mortgage for more than 50% of the purchase price. The bank will need to appraise the property (this takes around 2 weeks) and the appraisal value will often be lower than the market price. A formal appraisal is often not used to set the selling price in Spain. However, the bank’s appraisal is the amount used to calculate your mortgage (50% of this amount for foreigners). Casamona can advice and help you with this process.
- Getting a mortgage in your home country:
Casamona can help you get in contact with a mortgage specialist who can help you find the best solution.
Getting your NIE
1. What is a NIE?
The NIE (Numero de Identificacion de Extranjeros), is an identification number required to buy property in Barcelona. It is also needed for other services, such as: healthcare, banking, finance transactions, etc.
At Casamona we have services available to help our clients with practical things, such as getting a NIE, which will ease the process of integrating into the Spanish system.
2. How to get a NIE: In order to obtain a NIE you can choose one of the following options:
- If you are already in Spain, you can show up in person at the Foreigners Office at the police station and stand in line for a NIE.
Address: Rambla de Guipuscoa 74 in Barcelona.
There are four steps in the application process for the NIE:
You need an appointment (cita previa) for the Oficina de Extranjeros. You can get this here. Click on ‘Barcelona’ then ‘Certificados EU’.
Fill a NIE application form that can be found here:
For non-EU citizens, a proof of legal entry into Spain and two passport photos will be needed;
Assuming all your forms are correctly filled in and you have the correct documentation, you will be given pay slip, which must be taken to a bank to pay for the associated taxes (around €10).
Be aware, however, that many banks will only deal with this transaction between 8.30am and 10.30am, so be prepared to either get to the Foreigners’ Office early, or complete the process over two days. Once paid, you must take your stamped slip back to the office, where you will be able to process your NIE. You will be given the number, but will have to return in approximately one week to pick up the official paper.
- At the Spanish embassy in your country;
In the case that you have a buyer’s agent contract, our team can help you with this process (cf : section 4.c)
Contact us at firstname.lastname@example.org
Casamona team is always happy to help with any questions concerning these matters.
Opening a Spanish Bank Account
You will need a NIE and a valid passport.
Casamona can advise you on which bank to choose and how much is needed to pay their services.
Casamona can do this for you – if you have a buyer’s agent contract: more information in section 4(c) – Finding an apartment (Buyer’s agent contract).
Consulting services to buy property in Barcelona
Casamona offers the Consulting services for buyers
- If you are looking for an apartment in Barcelona – for more than 300.000 euros and need Casamona’s help through the whole buying process
- If you are looking for an apartment under €300.000 in Barcelona
- If you are looking for homes outside Barcelona
We would love to help you during the entire buying process – Learn more about the Buyers Package
Finding the Apartment
Searching for the apartment
At Casamona, we offer a wide range of properties in which we would live ourselves. Go to our website and discover all the apartment we have for sale.
If you have a precise idea of what you want, give us a call or write us. One of our agent will help you right away.
Phone: +34 933 041 532
Seeing the apartment
We take the buyer on visits to any available apartments they may wish to view, as well as being the intermediary between the buyer and the landlord. We also help to negotiate the price with the landlord to find a win-win situation for both party.
Reserving the Apartment
The Reservation Contract is the first agreement between the owner and the buyer.
The buyers shows his interest in the apartment by paying a deposit of 3,000€.
After signing and pay the Reservation, the owner has to remove the apartment from all portals.
What you need: Your NIE and a Spanish bank account.
The Aras is the agreement between the owner and the buyer when they set the final price and date in which the final transfert must be completed.Here the buyer pays a 10% deposit of the buying price. Once signed, the buyer and seller are legally bonded.
According to the Article 1,454 of the Spanish Civil Code:
- If the buyer backs out, he looses the deposit.
- If the seller backs out, he has to pay twice the amount of the deposit
Hiring a Notary
The notary need to be here to attest of the change of ownership. Casamona organises all the formalities with a notary (which involves making sure the notary receives all the required paperwork, organises a date to discuss the contract and its clauses, signs all the necessary papers and makes sure the notary pays the taxes on time, as well as any other important requirements). We offer two packages:
- Basic Package. We takes care of the Escritura.
It costs between 400-500€
- Full Package. We take care of the Escritura but also helping you to adapt to the Spanish system. We simplify the process for you and help you paying the taxes.
It costs between 800-1,000€
Signing the Escritura Contract
The Escritura is the title deeds. It clustered information about the owner, buyer and apartment.
This contract represents the change of ownership. Once signed the apartment is yours.
What is next
Want to rent?
If as the buyer, you wish to rent out the apartment, Casamona will organise viewings, check in and retrieve the rent from the tenant without any fee for the buyer.
Want to renovate?
If as the buyer you wish to undertake some reconstruction work in the apartment, you must obtain a working permit. Casamona can refer the buyer to a person or company which you can contact, as well as guiding you through the process.
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