Frequently Asked Questions
If your Spanish property questions are not answered in the list below then please ask us! Click here to send us a question.
Q. What does a three bedroom detached villa in Denia cost?
A. At present we have on offer our Deseo villa which is a three bedroom, two bathroom detached villas on a plot of land measuring 800 – 1000m2, including swimming pool 8×4 meter covered terrace with fantastic views.
The current offer price is only €250,000.
Q. Are there any other costs on top of the purchase price?
A. Yes, as with any Spanish property purchase, you should allow approx. 10% on top of your purchase price. This will cover IVA taxes(VAT), Stamp Duty, Notary & Registration, Solicitors Fees, Mortgage & Arrangement Fees and Water & Electricity Connections.
Q. How long does the whole construction process take?
A. You should allow 10 months from the date of the building licence. This will take approximately 2 months from the day you complete on the land.
Q. How do I start the ball rolling?
A. Visit Denia and view the show houses and building plots we have available. When you find the plot suitable to your needs, then an initial deposit of €10,000 will remove the plot from the market.
Q. What happens next?
A. We will then arrange for you to obtain your NIE number, open a Bank account and introduce to a reputable bilingual Solicitor who can act on your behalf.
Q. What should I bring with me on my inspection trip?
A. Bring a copy of your passport and a passport sized photo with you – this will allow us to start the NIE application process. If the property is in joint names we will need copies and photos for each person. This will be the same for any new properties for sale in Spain
Q. What is an NIE number?
A. The NIE Number is a tax identification number known in Spanish as the “Número de Identificación de Extranjero”. Without the NIE Number you cannot legally buy a property in Spain.
Q. What will my Solicitor do for me?
A. Your solicitor will complete the relevant services and confirm that there are no mortgages or outstanding debts or claims against the land or property and then put the land into your name.
He or she will act on your behalf, looking after your best interests, ensuring that you have peace of mind throughout the process of buying your Spanish property.
Q. When do I make the stage payments?
A. Stage payments are made through your Solicitor only when each stage of construction is complete as per the schedule in the contract. An Architect will check each the progress and advise your solicitor who in turn will let you know that a payment is due.
Q. What Protection do I have?
A. Our developer is reputable and well established and there is also legislation in Spain to protect you. The developer is required by law to have Bank Guarantees or Insurance Policies in place that ensure reimbursement of money that you have paid, plus interest, in the event of bankruptcy prior to completion – your Solicitor will confirm this to you.
Q. What will it cost me to run my property each year?
A. Water and electric charges together with rates are reasonably low for your Spainish property, as a very rough guideline you should allow about €700 per annum for these.
If you are a non resident you will be charged a tax on your Spanish property which will amount to about another €700 p.a.
A swimming pool firm will charge you around €70 per month including chemicals, alternatively if you are cleaning it yourself it will cost around €250 per annum.
Q. Will it be easy to rent out my Spanish property?
A. Denia property and property in the surrounding areas in general are outstanding for Spanish property rentals as demand exceeds supply.
Q. Why is Denia a good place to buy an investment property?
A. Property in the Denia area has far better long-term capital appreciation potential as the region, unlike other parts of Spain, is more residential with fewer properties and greater space between them.
Q. Can I work in Spain?
A. Yes – Spain is a member of the EU.
Q. Is there a hospital in Denia?
A. Denia is the medical capital of the region and home to the main hospital.