2024-01-06 07:00:02
Sell the house to foreigners It is an increasingly frequent operation in Spain, especially in a scenario in which the purchase and sale by Spanish citizens is conditioned by the economic situation and the rise in interest rates.
That is why many people find the foreign public a very attractive market to approach to sell their properties, especially in the case of those located in capitals and coastal areas, potentially more attractive to them.
If you are thinking about sell your home to a foreignertake note of how to do it, what differences exist with respect to a sale between Spanish citizens and what taxes are paid in these cases.
Sell a property to a foreigner It can bring certain advantages. The main one is that you will be opening the range of your market exponentially, being able to access potential buyers who will be more willing and motivated when it comes to paying a higher price for your property.
Keep in mind that per capita income varies from one country to another and that what may be prohibitive for a national may be completely affordable under the eyes of a foreigner.
Furthermore, and in association with the above, it is possible that a certain foreign public has greater liquidity and, therefore, can provide a larger deposit or even pay the price without the need for mortgage financing. This way you will gain security and reduce time in the buying and selling process.
As for the Disadvantages of selling housing to foreigners, there may be legal issues that need to be addressed depending on the nationality of the buyer. There may also be a certain cultural barrier that makes negotiations difficult.
British and Germans are traditionally the foreigners who buy the most homes in Spain, followed by the French. However, there are other nationalities that are increasingly willing to purchase property in Spain.
These are the most recent data in this regard regarding the number of home purchases and sales by foreigners in our country during the fiscal year 2022, collected by the National Institute of Statistics (INE):
During the past year, 18.7% of the homes that came on the market were purchased by people of non-Spanish nationality. That is, almost one in five. This is the second highest figure in the historical series, only surpassed by the data from 2015, when the purchase and sale of housing by foreigners reached 19.3% of the market share. However, in absolute terms, during 2015 only 77,530 homes were sold to foreigners, compared to 133,221 units in 2022. The rebound in 2022 compared to 2021 was 30% for the foreign public and only 2.2% for the national public. Citizens of the United Kingdom (10.9%), Germany (9.2%) and France (6.4%) are those who buy the most in Spain. The next nationalities are Romania (5.1%), Belgium (4.9%), Italy (4.9%) and Morocco (4.8%).
On the other hand, the favorite properties of foreigners They are those located in coastal areas, especially those with more pleasant climatic conditions, as is the case of the Mediterranean coast.
The Balearic Islands and Canary Islands are always attractive destinations and, each time, those properties that offer exclusivity conditions in terms of its isolation with respect to traditionally tourist areas, especially in highly crowded areas.
Luxury also sells, especially among foreigners from countries with higher incomes for whom this type of purchase is more affordable.
Sell your property to a foreigner It will be much easier if you rely on an agency with an international presence and experience in this field, as well as if you decide to advertise on portals with an international presence.
Also keep in mind that your ad must take into account the audience it is aimed at: the information must appear in the appropriate languages and the images must be of the highest quality as well as very graphic. It will also help a lot to provide extra data such as plans of the property or virtual tours.
Furthermore, taking into account the aesthetic differences that may exist, choosing neutral tones and less strident decorations will be more important than ever.
However, there are elements that work universally: using natural light, vegetation, order or visual cleanliness are factors that will always be well received by the potential buyer, regardless of their country of origin.
If your property is located in a coastal area, in a particularly sunny place, in a location with a lot of life, etc., do not forget to provide images that illustrate this reality and that help the buyer to visualize themselves in this space and its surroundings. What foreigners tend to value most when living in Spain is precisely its good climate and luminosity: enhance these attributes to the maximum in your advertisement.
Having all the necessary documentation on hand to sell your home will speed up the process and provide security to the buyer:
Simple noteCertificate of energy efficiencyCertificate of habitabilityEarnest money contractCommunity statutesCertificate of ITECCertificate of being up to date with community feesReceipt of IBI paymentHousing plansDeed of saleZero debt certificateLatest supply invoices
Can documents be signed remotely?
The possibility of remotely sign documents related to the sale of a homeincluding the purchase and sale of the property itself, as long as there is a power of attorney that allows the representative to carry out this type of procedure.
Thus, for example, it is possible to sign the deposit contract remotely (in this case the digital form of the document will suffice), as well as the sale itself before a notary (which requires the physical presence of the parties involved or their representatives). .
It is important that the entire process of purchase and sale of housing to a foreigner is carried out with full guarantee of safety, for which it may be necessary to take extra measures. This is especially important if the buyer is located abroad and much (or all) of the transaction is carried out remotely.
If you like avoid fraud when buying and selling a home to a foreignerit is recommended that you require the help of a professional or a real estate agency: they will be familiar with the most frequent cases of fraud and will know how to avoid them.
In any case, it is essential to verify the identity of the buyer through legal documents and do a little research about their profile, possible history of fraud, etc. In the event of any strange request or suspicious movement, excessively attractive offer… ask for help to clear up your doubts.
Sell house in Spain to foreigners It is no different from selling it to a national citizen as far as taxes are concerned. Basically you will have to face the payment of three taxes when selling a property to a foreigner:
IRPF: You must declare the capital gain obtained from the sale of your home and also a possible loss. In the latter case, you will be able to offset the negative result of your operation with the capital gains of that year, even during the four subsequent years. The capital gain It is managed at the municipal level and you will only have to pay it if there has actually been an increase in the value of the urban land. Regarding the THE PLACEalthough the regulations tell us that it must be paid to the owner of the property on the date the tax accrues (January 1 of each fiscal year), it is common for the amount to be divided between the seller and the buyer, taking into account the date of sale.
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