Guide to Buying Property in the Costa Blanca and Costa Cálida

Guide to Buying Property in the Costa Blanca and Costa Cálida

Guide to Buying a Property in the Costa Blanca and Costa Cálida: Everything You Need to Know!

Do you dream of your own slice of paradise on the sunny Spanish coast? The Costa Blanca and the Costa Cálida are regions that attract both tourists and investors from all over the world. If you’re considering buying a property in these areas, here’s a detailed guide to help you make the right decision.

1. Choose a City and Location

The first step when buying a property in the Costa Blanca or the Costa Cálida is to choose the right city and location. Both areas offer a wide variety of options, from charming holiday complexes to lively cities. Here are some popular destinations:

  • Alicante: Capital of the province of Alicante, this Costa Blanca city offers beautiful beaches, historic architecture, and excellent transport connections.

  • Benidorm: Famous Costa Blanca holiday hotspot, known for its vibrant nightlife, wide beaches, and a rich leisure offering.

  • Murcia: Located on the Costa Cálida, Murcia is a dynamic city that blends tradition and modernity. It offers cultural richness and conveniences for both residents and tourists.

  • Cartagena: Known for its rich history, Cartagena is a Costa Cálida port city that offers the charm of ancient ruins, beaches, and affordable property prices.

Your choice of city depends on your lifestyle preferences, accessibility to services, and budget.

2. Choose a Property

Once you’ve selected the destination, it’s worth considering the type of property you’re interested in. Options include apartments, detached houses, holiday homes, and buildable plots. Many properties in the Costa Blanca and Costa Cálida offer beautiful sea views, access to swimming pools, and other amenities.

3. First Steps in the Buying Process

  • Property search: Use real estate agencies or online listings to find properties that match your needs.

  • Viewing: Before making a decision, visit the selected properties in person to assess their condition and location.

  • Negotiation: Once you’ve found your dream property, proceed to negotiate the price and the terms of the transaction with the owner or the agency.

4. Documents and Procedures
If you don’t have Spanish nationality, you’ll need the following documents and complete a few formalities:

  • NIE (Foreigner Identification Number):

This is the identification number for foreign nationals in Spain. Without this number, you won’t be able to sign a purchase contract or open a bank account.

  • Passport:

Valid identification document in Spain.

Required for all procedures related to buying a property.

  • Deposit contract (arrhes/“contrato de arras”):

The document that sets out the terms of the transaction between the buyer and the seller.
It is usually signed along with a deposit reserved against the final purchase amount.

  • Notary:

In Spain, any property purchase transaction must be approved (signed) by a notary.
The notary will confirm the property’s registration in the property registry.

Mortgage loan:

If you plan to finance the purchase of a property through a mortgage, you’ll need to meet certain requirements:

  • Credit history: Banks will check your credit history, so it’s important to have a good one.

  • Employment and income: Banks usually require you to have a job or stable income.

  • Deductible: In Spain, you will normally be asked to pay a deductible of 30% or more of the property value.

  • Insurance: The bank may require life insurance and unemployment insurance, as well as property insurance, to obtain more favorable loan terms.

  • Documentation: The bank will require documentation proving your employment, income, and credit history from your country of residence.

Why choose our real estate agency ESTRELLAS PROPERTIES BENIDORM?

Finding the perfect property on the Costa Blanca or Costa Cálida in Spain can be challenging, but with our real estate agency by your side, the process becomes easier and more rewarding. We’re a professional real estate agency registered with the Real Estate Agencies Register that operate in the Valencian Community, which provides additional confirmation of our credibility (registration number RAICV1425). Here are a few reasons you should use our services:

1. Experience and Knowledge:
Our team is made up of experienced real estate agents who have a deep understanding of the local property market in the Costa Blanca and Costa Cálida.
With our experience and resources, we can give you access to a wide range of properties to meet your needs.

2. A Tailored Approach:
We focus on the client and place great emphasis on a personalized approach for each transaction.
Our agency takes the time to understand your preferences, needs, and budget, allowing us to suggest the properties that best fit your requirements.

3. Full Support at Every Stage:
Our agency supports you throughout the entire property purchase process, from the initial selection of the property to signing the contract and handling the subsequent paperwork.
We provide support with price negotiations, liaising with the notary, and other necessary matters.

4. No Buyer Commission:
We do not charge a commission to the buyer.
Our goal is to ensure your satisfaction and help you find the property of your dreams, not to generate additional costs for you.

In short, using the services of our real estate agency guarantees a professional approach, individual service, and support at every stage of the property buying process. We understand your needs and work hard to offer you the best buying experience with no added stress.

Summary

Buying a property in Spain involves certain formalities and documents. The documents required include an identification number for foreign nationals, a tax identification number, a passport, and a pre-contract. If you want to obtain a mortgage, you must meet certain conditions, such as a good credit history, stable income, and a share in the capital. All these steps are important to ensure that buying a property in Spain is legal and successful.

Contact us today.

Office: Avenida Bilbao 1, 03503 Benidorm

+34 677 878 548

info@estrellasproperties.com

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