Blog on Spanish law

Category: Property

  • Buying property in Spain from a bank- Initial tips

                      These days, as a result of the economic situation and the increase of people who do not pay their mortgagees, the banks have gathered a huge housing stock and, sometimes, these kinds of properties, which have been acquired by way of foreclosing procedures, are offered for…

  • WHAT IS THE ENERGY PERFORMANCE CERTIFICATE (CERTIFICADO DE EFICIENCIA ENERGETICA)?

                      From June 1st the Energy Performance Certificate will be required in all contracts of sale or rental in Spain. This regulation comes from a European Directive and it is already in force in other EU countries. This certificate analyzes the demand and energy consumption of a…

  • Buying under-value in Spain Part I

    It is no secret that the Spanish property market is very quiet. Nowadays, any person wanting to sell reasonably quick has to make a noticeably discount on the sale price. This could mean reducing the price in 20% or 30%. This could prove very atractive to the purchaser as it would allow him to buy…

  • Can I complete the purchase of a property in Spain without a NIE?

      In a clear homage to my youngest daughter’s favourite cartoon: yes you can! I am talking about NIEs and not laying bricks but contrariliy to what happens in the Bob the Builder’s cartoons, the lack of NIE will not necessarily lead to a happy ending. A NIE number (tax number for non-residents who either…

  • What is a “cedula hipotecaria”?

    You may have heard about the “cedulas hipotecarias” or covered bonds. A “Covered Bond” is a financial product guaranteed by the whole mortgage portfolio of the bank itself with an interest linked to it. This is a safe product in a normal economic climate and it could be quite profitable (in fact, during the property…

  • Changes to the Spanish Tenancy Law- Hit or miss?

                The current Spanish Government is betting for a surge in rentals as a way to compensate the stock of properties for sale that cannot be currently absorbed by the market. For this reason it has implemented a project of law that, in the Government’s opinion, will revive the rentals…

  • What can be bought these days for less than 150,000 Euro?

        This is a question that I have asked myself in several occasions. I am obviously talking about Spain, the main subject of this blog. Some experts state that the market is full of bargains. Lets see if it is true. 150,000 Euro is a relevant amount of money. This amount can buy you…

  • Dacion en pago for non-residents. Do we have a deal?

    If you have read the Spanish press this week you will probably have seen plenty of articles on the Government’s new proposal to solve the current problems with those who cannot pay the mortgage.  Luis de Guindos, Minister of Economy, will announce this week some new measures to enable consumers to surrender their properties back…

  • Ok, marriage is over. Now what do we do with the property?

                                                         Many Brits own property in Spain. In most of the cases, the property is owned by a married couple. So, what happens when the couple divorce or, more specifically, who gets the Spanish property? The most normal thing is for the Judge who deals with the divorce to make a provision in the…

  • Holiday rentals in the Canary Islands

      If you read internet forums or you are subscribed to internet news bulletins related to Spain, you would have probably come across many angry Britons who have been suddenly fined for renting their apartments in the Canary Islands without the necessary permissions.  In some cases, the fines are imposed because the property owner has…