Other nations’ profiles: What are the ideal Spanish properties for Belgians Chinese Dutch English French Germans Italians Moroccans Romanians Russians Swedish?.

Italians property buyer’s guide in Spain

Find your free pdf report regrouping all our tips and all this information at the end of this article

The 10 things you should know before buying your Spanish property!

We make it easy for you to buy your dream property in Spain thanks to our knowledge and our network of local partners.

How active are the Italians on the Spanish property market? What properties do they like? What are the most loved Spanish regions by the Italians? How much do they pay? Do they prefer new build properties or resale? Do they need a mortgage for financing? How should they buy? What are the 9 steps to buy a property in Spain?

First, let’s analyse the Second Home purchases by the Italians in Spain

Both foreigners and Spaniards are very active on the property market in Spain.

In 2018, foreigners bought close to 100.000 properties in Spain.
Spaniards and Foreigners are buying the highest number of properties in 2018 vs any year since the crisis of 2008, have a look at our chart: more than 580,000 properties were bought, 15% of the purchases by foreigners.

Read our most recent article about that: Who are the foreigners buying real estate in Spain?

100,000 properties bought by foreigners in 2018. Why foreigners are so active in Spain?

We have listed at least 13 reasons why foreigners are buying properties in Spain. Of course, you’ll find sea, sun, beaches, nice quality of life… but investment return is important as we explain here: What return will you make on your Spanish Property in 2019?

How active are the Italians on the Spanish Real estate market? 6,700 properties bought in 2018

According to the “Consejo General del Notariado” in Spain, the Italians are buying 19 properties per day, or about 6.651 for the last 12 months up to December 2018, in Spain.

It is nearly 4 times more than in 2008.

How much do they pay for their properties? €1,828/m²

The price they pay on average is €1,828 per square meter. They pay just a little bit more than other foreigners buying properties in Spain. Check the evolution over the last 12 years.

Of course, depending on the region, price paid by foreigners per square meter is changing a lot. The Balearic Islands is the most expensive region if you want to buy a second home in Spain. Another factor factor to take into account for the price is if the property is a new build property or a resale.

Real estate prices in Spain are not any more in crisis

we have a stable and even growing market in many Spanish regions

What are the most loved Spanish regions by the Italians?

Italians love to buy on the Canary Islands. Second preferred region is Catalonia. Third is the Balearic Islands.

Where are foreigners buying in Spain? In which Regions, in Which Cities?

Foreigners are actively buying properties in many Spanish cities: for Alicante, Tenerife, Ibiza and Palma de Mallorca, Malaga and Girona, they represent more than one transaction out of 4.

Here are the most active regions

Here are the most active cities

If you want to read more on the subject: Which are the top 10 Spanish cities where foreigners are buying properties?

What properties do they like? Small or big? 70m²

Most of the Italians, 1 out of 3 buy properties between 40 and 60 square meters. One out of 4 are buying properties between 60 and 80 square meters. So, Italians clearly go for a small surface.

Do Italians prefer Spanish new build properties or resale?

15% of the Italians go for a new build property.

Looking for a new build property? Discover the best new build projects available in Spain on our portal.

sold directly by renowned developers at their best prices.

EXCLUSIVE LAUNCH OFFER: Purchase any property and receive €3,000!

Looking for a resale? We have many local property finders ready to help.

Let’s have a look at the 6 reasons why a personal real estate shopper in Spain will be very helpful for your property search.

Property finders in Spain

Do Italians take a mortgage for their Second Home? €136,000

18% of the property purchases done by Italians in Spain are done with a mortgage. For the transactions with a mortgage, the mortgage size is €136,077.

Buying in Spain is easy, once you found your property, here are the 9 steps to your Spanish Property

1. Get your NIE “Número de Identificación de Extranjeros”, read our article on this: “Your ultimate guide to your NIE number“.

2. Find a lawyer speaking your language and Spanish: Looking for an property lawyer in Spain? Check all our partners here!

Find your property lawyer in Spain

3. Open a Bank account

4. Do you need a mortgage? Your Spanish Mortgage: How to apply? How to get the best rates?

5. Sign the “contrato de Reserva”

6. Important checks of the property with experts

7. Get your mortgage confirmed

8. Sign the “contrato de Arras”

9. Go to the Notary for signing the contract for the purchase of the property

If you want to look at our detailed article: ” The 9 Steps before buying your Spanish property“.

How much does it cost to buy a property in Spain?

The short answer is 10% to 14% of the property value. Read our detailed article on that subject: What is the real cost of buying your Spanish Property?

How much does it cost to be an owner of a property in Spain?

The short answer is around 1% of the property value per year. Learn more in our detailed article: What is the real cost of owning your Spanish property?

Download our exclusive pdf report: Italians property buyer’s guide in Spain: what are the ideal Spanish properties for Italians? Where do they buy? How much do they pay?

Register to our YouTube channel in Italian and get all our useful animated videos – click on the picture

Looking for an expert in Spain: Lawyer, Architect, Property Hunter, Mortgage? Ask us directly!

Stéphane

Senior Analyst and Strategist at HTBIS

Check the full HTBIS team here

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Purchases of properties in Spain by foreigners for the first Quarter of 2017

The weight of the purchase of foreign housing remained fairly stable in the first quarter in relative terms, presenting a rate of 13.1% of total purchases and sales. This has resulted in figures around 15,000 quarterly sales.

• the British continue to lead the ranking with 14.5% of purchases made,
• The French rise to second place with 9.6%,
• followed by Germans with 7.7%, Belgian with 6.9%, Swedes with 6.3% and Italians with 6.1%.

These top six nationalities account for more than half of total home purchases by foreigners.

Check our infographic with the data of Q3 2016 produced on the same subject:

Where are foreigners buying? Check our other infographic

Find the full press release in Spanish here.

Full quarterly report in Spanish, First Quarter 2017, Estadística Registral Inmobiliaria (ERI)

Looking for an expert in Spain? Ask us directly!

Stéphane

Senior Analyst and Strategist at HTBIS

Check the full HTBIS team here

The post Foreigners real estate activity in Spain in Q1 2017 appeared first on How to buy in Spain.

Have a look at the property market in Tenerife

Its tropical climate makes Tenerife a place where you can enjoy warm weather all year round without leaving Europe. The fact that it is cheaper than most touristic places in continental Spain makes this island an excellent opportunity for those looking to wear shorts and t-shirts the entire year.

The cheapest city to live in Spain

Tenerife, if you compare it to the main other cities in Spain, is one of the cheapest city to live in. Check our article on the cost of living in Spain to find out more on that subject.

Who are the investors?

According to Ian Meyer from Tate Properties Tenerife:

“British, Belgian and Italian are among the top buyers”.

“There was also a boom of Russian when the economic situation in their country was good”,

as points Konstantin Hinner from Proyectos Insulares S.A., “appearing a lot of real estate agencies specialised in the Russian market as well as a lot of shops and restaurants promoting their products and food in Russian language”.

Although British are the top buyers, as other parts of Spain “we still have to see which will be the impact of Brexit”, Konstantin Hinner adds.

What does it cost to buy a property in Tenerife?

As happen in almost every corner of Spain, the price of houses and apartments is also growing in Tenerife. In 2016, the price per square meter in the island was around 1.200€ (in the capital, Santa Cruz de Tenerife, the price per square meter was almost 1.400€).

Real estate prices are low compared to the national average in Spain

The expectations for 2017 are that the market will still grow but at a slower pace if we compare it with Barcelona or Madrid

Where do foreigners invest?

Konstantin Hinner says “after the crisis, we see that the south area of the island is receiving as before the most of the foreign investment. However, there is a tendency of not investing in this area, the most touristic area in Tenerife, and looking at the countryside area where locals live, not far from Santa Cruz de Tenerife and the university city of San Cristóbal de la Laguna”.

What are the most sought-after areas?

Although the size of the island is not as big as Cyprus or Sardinia, the geology of Tenerife offers a vast variety of landscapes and climate that will suit everyone.

For those looking to go to the beach all year round, the south area, for example, Los Cristianos and Las Américas, accomplish their desires with their warm weather and sunny days. As we appointed before, this is the main touristic area of the island.

If the warm weather doesn’t fit you but you still would like to live next to the sea, Puerto de la Cruz in the north of Tenerife has a temperate weather if we compare with the south. For those missing cloudy days, this is also the best place because most days are cloudy there due to its proximity to the Teide volcano: the tallest mountain in Spain with its more than 3.700 meters.

Those looking to live in a city where we can find all the basic facilities like hospitals and big shopping malls, the capital, Santa Cruz de Tenerife, it is the best option. Thanks to the size of the island, it is easy to reach the beach from there in less than one hour by car.

And at last but not least, there is San Cristóbal de la Laguna. Considered the university city of the island, its location in the mountain makes its climate very pleasant even when it is very hot in most of the places of Tenerife. It is also just a few kilometres away from Santa Cruz, in case you need something that you can only find in the capital.

Read our article on the Canary Islands: Everything you ever wanted to know about the Canary Islands

Know everything on the Canary Islands: its Airports, its AVE stations, its Cities and villages, its shopping places: Traditional & Flea markets, Outlets and shopping malls. What should you visit? The Unesco sites, the parks for kids, the green parks, the golf courses, the universities and last but not least the top beaches. Check out our infographic.

Find all our other detailed maps of all the Spanish Costas and the Canary Islands.

Strong connections with Europe and Spain

As being an island, it is only reachable by ferry and plane, the best option. Tenerife has two airports, one in the North and one in the South with connections to the main cities of Spain and Europe.

There is also a highway that connects the North with the South, and other main routes that make any place of the island reachable in less than three hours by car.

If you want to invest in the Spanish real estate market in Spain, don’t hesitate to read our special report with the 10+ reasons why you should have a look at the Spanish property market.

Check our infographic on the yearly weather statistics of Tenerife before buying, and you’ll find out that average temperatures are always higher than 18 degrees, even in the winter, not bad !!!

Further reading? Read our article written in Octobre 2018 by our property local finder in Tenerife, Manuel: Tenerife property investment: a Case study of property for sale in Tenerife

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Looking for an expert in Spain? Ask our network of local independent experts directly!

Raimon

Senior Journalist and Writer at HTBIS

Check the full HTBIS team here

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Caroline works as a paralegal for the biggest law office in Andalusia: more than 120 professionals work there, which allows it to provide a multidisciplinary service with a high level of specialisation. They have 8 offices in the region: Málaga, Córdoba, Granada, Almería, Marbella, Fuengirola, Manilva, Estepona and one Madrid and a few international offices (Turkey, Portugal, Bulgaria, Roumania,…).

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