For a long time, Spain has been popular with overseas buyers looking for holiday homes. On occasion, the large numbers of inexperienced foreign buyers have provided an opportunity for unscrupulous developers and estate agents to sell properties that are not legitimate.
As houses are often harder to keep heated than flats, it is worth carrying out renovations, so buyers should consider if they need to budget for insulation or replacing oil-fired heating with a heat pump, advised Mr Allouche.
In certain areas of Italy, Brits should expect to rub shoulders with Americans during viewing trips. This is because buyers from across the Atlantic are taking advantage of the stronger dollar, remote working opportunities and low tax rates to relocate or own a second home in to enjoy la dolce vita, according to property agencies including Sotheby...
Expect Italy to continue promoting its government-backed discount schemes, aimed at tempting foreign buyers to its sleepy inland villages by practically gifting them unloved properties or cash. A typical example sees selected homes offered for just €1, on condition the new owner spends money renovating the property and keeps the property for their...
Did you know that the process of buying a property in Italy only takes six months? This means that you may be able to purchase your dream home sooner than you think — especially if you follow our timeline of how to buy below.
Capital gains tax (CGT) can be a big barrier to selling a property in Spain. CGT is paid on the profit of selling your home, and the level varies between 19% and 23%, as follows:
French banks also still mostly offer fixed rates, which are 'safer' than the variable rates common in the UK and US.
It's highly recommended that you take out home insurance when buying a home in Spain.
Homeownership levels in Spain are high, with around 80% of residents owning their own property, and many doing so without a mortgage.
Century 21 predicts an average potential lowering of 5-7% in 2023. However, agencies agree there are too many unpredictable factors to speak with confidence for the long term.
