Spain, the most profitable country in Europe to invest!

Alban Fridenbergs, why is it worth buying in Spain?

First of all because it is fiscally attractive: the VAT for the purchase of a new property is 10% there compared to 21% here. In addition, the profitability of such a property is excellent: the seasonal rental leads to a one-year investment in Belgium. Spain also offers 300 days of sunshine a year, proximity to Belgium, relatively low property prices, new real estate assets and a negligible cost of living. In Alicante, for example, there is still a three-course menu for 15 euros in a restaurant with a sea view …

Alban Fridenbergs, manager of the Belgian agency
Alban Fridenbergs, manager of the Belgian agency “Ola Costa Blanca” © olacostablanca.com

What are the advantages of Spain compared to other southern countries such as Italy and Portugal?

Spain remains very interesting from a price point of view compared to Italy. People who buy a second residence are often Italians living abroad and are relatively well off. There, too, the prices are higher and the housing stock is dilapidated, while almost everything is new in Spain. Furthermore, the sun is not guaranteed in winter.

Portugal has experienced some excitement due to the proposed tax exemption for ten years for any property of at least € 200,000. Thanks to this measure, foreigners have poured into goods and prices have soared. The Portuguese today no longer know how to find accommodation in popular cities, because Germans, French, Belgians, etc., who have much more means than the natives, have caused prices to explode, which in a few years have doubled.

How do you supervise potential Belgian buyers wishing to invest in Spain?

We accompany the customer from start to finish, both from an informative and a practical point of view. When the client pushes the door of one of our agencies or contacts us via videoconference, we start by explaining where exactly the Costa Blanca is, how to settle there, how to get a loan, how to buy well … We then accompany them to Spain where they we present to various local actors such as lawyers, insurers, etc. We don’t let them go. That said, the market in Spain is changing very rapidly: whoever decides the fastest will get the best price. Therefore, if a customer tells us they want to buy in six months, we recommend that they come back in five months …

Ola Costa Blanca
Ola Costa Blanca © olacostablanca.com

What is the advantage of being accompanied by a Belgian real estate agent when buying in Spain?

This is essential because Spanish real estate agents (just like the French for that matter) are not approved and anyone can therefore improvise as a real estate agent. We also work directly with the promoters to get the best prices and some specific discounts (for example a swimming pool at -50%). You will not enjoy such benefits in Spanish agencies. In addition, many Belgians who wish to invest in Spain resell their home in Belgium at the same time. We also deal with the resale of their properties as we are, in addition to our Spanish hat, also present on the Belgian market throughout Wallonia and Brussels, thanks to our local agencies located in Mons (Fridenbergs) and La Hulpe (Beluxury). As prices in Belgium have soared while prices in Spain have remained more or less stable, owners can often find a small nest egg at the end of their transactions.

Is the Spanish real estate market growing?

It has never looked so good! The energy crisis has something to do with this: in Spain people live outside and the costs are lower. The rising cost of living also plays a role: in Belgium everything is expensive, for a quality of life unmatched to that which can be enjoyed in Spain. We can now say that the Spanish investment is the most profitable on the European market.

What can you expect in Spain at what price?

We cover 4 to 500 km of coastline on the Costa Blanca and we turn to Malaga and Marbella, but also to Mallorca. For a budget of up to € 200,000, we recommend the southern Costa Blanca. We still have, on Pulpi, properties worth 128,000 euros (for a two-room apartment in an ecovillage with a sea view).

For a slightly larger budget, the north of the Costa Blanca is ideal, especially the Cumbra del Sol region. Mallorca is a bit more expensive with apartments starting at € 360,000 and villas around € 900,000. But on average, for a 2-bedroom, 2-bathroom apartment in Spain, you have to count around 250,000 euros.

What are the most popular properties?

Retirees generally prefer small beachfront residences with common areas such as swimming pool, spa, garden … This allows them to maintain social contacts with other residents, but also to benefit from popular services. There are obviously also requests for villas with swimming pools, it all depends on the priorities of each one.

Info: www.olacostablanca.com

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