You want to buy a property in barcelona?

Real estate market / real estate news: Many Germans have the desire to be able to call a property abroad, especially in Spain their own. There are some differences to a land purchase or a real estate acquisition in Spain compared to Germany, but there are not so many differences in the acquisition to Germany. You can dare to buy a vacation property or a plot of land in Spain, for example a property in Barcelona. What is to be considered in particular?

For EU foreigners there are basically no restrictions compared to Spanish citizens regarding the acquisition of a plot of land or a finished property. Just like in Germany, the Spanish constitution guarantees the protection of property.

Similarly, as in Germany, there are also particularly popular and favored regions for real estate in Spain. In Spain, certainly one of the most popular locations is the archipelago of the Balearic Islands but also the metropolitan area of the Catalan capital Barcelona. Barcelona is divided into districts, with each district having several neighborhoods. There are some neighborhoods that are particularly popular with locals and tourists, including the trendy El Born neighborhood located in the southern city center. In this district you can find the best attractions, restaurants and a very special nightlife.

Professional property management in Barcelona

If you are considering buying real estate in Barcelona, you should hire an expert real estate agent, especially if you do not (yet) speak Spanish. To reduce stress for real estate investors in Barcelona, there are good multilingual, expert management services to ensure that capital investment is protected.

Taxes and fees on the purchase of land

In Spain, a value added tax on the purchase price of a property is only due if the seller is a legal entity. The VAT rates depend on the type of real estate and are therefore quite different. For houses and apartments 10 percent, for commercial properties and garages 21 percent tax is payable. If the seller is a natural person, on the other hand, the real estate transfer tax is due. This amounts to between seven and ten percent, depending on the region.

Similar to Germany, other fees are also incurred. Thus, the notarization tax, which is between 0.5% and 1.5%, is payable to the respective autonomous region.

If the real estate or also a property, which is to be developed, is in the final possession of the new owner, annual tax returns are due accordingly, as it is usual in Germany also. A distinction must be made here as to whether limited or unlimited tax liability applies. An unlimited tax liability exists if the owner lives in his property in Spain for more than 183 days a year. In this case, a tax return on all assets and all resulting income is mandatory to be declared in Spain as a whole.

The land development

Apart from some regional regulations and peculiarities, building on a plot of land is similarly uncomplicated as we all know it from Germany as well. If you would like to build with a German company, nowadays you can find German companies that are based in Spain or that build all over Europe.

Bottom line:

The purchase of houses, apartments and land is still not uniformly regulated in the EU. The national regulations still apply. A change in these regulations is also not expected in the near future.

As before, every citizen of a member state of the European Union can freely purchase real estate or land as described above in almost all EU countries. The purchase of houses or land in Spain is therefore possible for all EU citizens in compliance with Spanish law without any problems.

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