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Good reasons for buying property in Catalonia and Barcelona

People have many reasons to stay in Barcelona and Catalonia. Here are some of them.

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Good reasons for buying property in Catalonia and Barcelona

12 years ago, me and my husband came to Barcelona and never left. We choose Barcelona as the place to start a family, and the boutique agency MySpot Barcelona. And for many foreigners it is the same. Catalonia and Barcelona are among the most requested real estate markets in Europe – many come and many stay to make it their first or second home. And for some there is no better place in Europe. All are attracted by various good reasons: 

 

1.     Location

Catalonia and Barcelona, in the northeast of Spain, and are known for their stunning Mediterranean coastline, pyrenes mountainous landscapes, and rich history and culture. This makes it an ideal location for those seeking a balance between the bustling city life and peaceful rural living.

2.     Climate

Catalonia and Barcelona enjoy a Mediterranean climate, with mild winters and hot summers, making it an attractive destination for those seeking a year-round warm climate.

3.     Strong economy

Barcelona is the economic and financial centre of Catalonia, which is one of the wealthiest regions in Spain. The region has a diverse economy with strong industries in tourism, technology, and manufacturing, providing a stable and growing market for property investments.

4.     High rental yields

Due to the strong demand for rental properties, the rental yields in Catalonia and Barcelona are some of the highest in Spain, making it an attractive option for buy-to-let investors.

5.     Exclusive real estate

architectural rich Barcelona and the hills surrounding the city and the coastline are home to some of the best real estate in Spain, some from world-famous architects. Whatever you are looking for MySpot Barcelona will find it. No matter if its modern and minimal hill estates, luxurious villas, new developments, restored old “Masais” (country houses), a penthouse with view in Sarria or artist studio in Poble Nou – this region has it all.

6.     Cultural and touristic appeal

Barcelona is one of the most popular tourist destinations in Europe. The city has a unique blend of modernity and tradition, making it an attractive location for those looking to buy a holiday home or a second property.

7.     Investment potential

The property market in Catalonia and Barcelona has seen steady growth over the last few years, making it a prime location for investment. To part thanks to the “golden visa program” allowing foreigners with certain investment strengths to obtain the Spanish residency permit. With a large student population and a growing number of expats, the demand for affordable or time-limited housing is expected to rise in the coming years.

 

8.     Quality of life

Catalonia is known for its high quality of life, offering a laid-back lifestyle, beautiful scenery, and excellent healthcare and education systems, rich culinary scene, a love of festivals and celebrations, and a passion for sport. The region is also home to several UNESCO World Heritage sites, including Gaudi's Park Güell, the Sagrada Familia, medieval monastery of Poblet and the Roman ruins of Tarragona as well as many international schools and universities, making it a popular choice for families and students.

9.     Infrastructure

Catalonia and Barcelona have excellent transport links, including international airports, high-speed train connections, and a well-developed road network, making it easy to explore the region and beyond.

 

Overall, buying property in Catalonia and Barcelona offers a unique combination of location, climate, culture, lifestyle, investment potential, and infrastructure, making it a compelling choice for buyers looking for a diverse and dynamic place to live or invest.

 

Give us a call at MySpot Barcelona and we chat more about that.

Articles

Our Valuation Methodology: Expert valoration for informed decisions.

Unfortunately, many agencies do not perform this study; They simply accept the price given by the owner or the one proposed by other agencies. The consequence of this may be that a property does not sell, or remains a long time in the market.

 

At MySpot Barcelona we distance ourselves from these practices and always carry out an exhaustive and realistic analysis to find the correct price and sales strategy. We keep this practice even if we are not the initial recruiter and even if other agencies are putting the property on the market before us. It is our business ethic to evaluate the realistic market value of any property we list.

 

Our aim is to provide a clear market view and understanding of current market prices to the owner to allow them to make the most informed and realistic sales price decision available and helps them to close a transactions satisfactory.

 

This is our commitment: Always carry out a market study and give our assessment of your property. This is how we differentiate ourselves from other agencies and add value to our service, offering recommendations based on concrete, relevant and truthful data.

 

Our comprehensive valuation method allows us to identify opportunities and determine the maximum real value of your property, to close operations in an agile and satisfactory manner.

 

Our Valuation Methodology:

 

● Market-oriented analysis:

 We conduct a thorough examination of current listing offers and prices, market trends and closing data obtained from the Spanish Property Registry. This information enables us to recommend an optimal sales price, aligned with current market conditions.

Once the analysis is complete, we provide the data to the owner so they can make an informed decision.

 

● Realistic expectations:

We understand the emotional attachment that owners often have towards their properties. However, at MySpot, we remain committed to objective valuations, based on current market conditions. We try to combine maximum objectivity with realistic expectations.

 

● Data-driven approach:

We base our recommendations on accurate and up-to-date market information. By fact-checking the owners' proposals with real and up-to-date market data we avoid possible distortions in prices and any type of surprises during negotiations.

Our Valuation Process:

 ● Real Estate Inspection in Person:

At each property we value we carry out a thorough in-person visit. In this we evaluate the location, orientation, size, services, general condition and maintenance, as well as the general atmosphere of the property. This direct evaluation serves to verify all features and current status.

 

● Market Analysis:

 

We consult the Spanish Property Registry to discover previous closing prices, we also analyze market trends and compare current competing assets in the area. This data refines our assessment and provides insight into the current landscape.

 

● Documentation Review:

 

We meticulously review all legal documentation, including deeds and certifications to ensure the fluidity of the sales process and avoid possible legal setbacks.

 

● Recommended Sale Price:

 

Once the real price of the property has been estimated, taking into account the negotiation margins, agency fees, your financial objectives and the desired sales terms, we determine a recommended sales price that maximizes the market potential of your property.

Our task is to sell your property at the highest possible price in the shortest possible time.

 

● Detailed Valuation Report:

 

Once our analysis is complete we will present you with the detailed Valuation Report. This report is the essential tool that will allow you to make the right decision with full confidence and ultimately set the correct sales price.

 

MySpot Barcelona.

Your Trusted Partner in Real Estate

 

At MySpot Barcelona, ​​we are committed to providing exceptional service that guarantees a quick and profitable sale of your property. Our experience allows you to navigate the complexities of the market and achieve optimal results in your real estate goals.

 

The rental price index in Catalonia 2024

The impending introduction of rent control in 140 municipalities in Catalonia brings changes to rental housing. This particularly affects new contracts and large property owners.

 

Affected Areas

The control extends to tense residential market areas, particularly in major cities such as Barcelona, Tarragona, Lleida and Girona, as well as important cities in the greater Barcelona area. Parts of coastal and mountainous regions such as Ripoll, Puigcerdà, Mollerussa, Solsona, Sitges, Castelldefels, Sant Pere de Ribes and Torelló are also included.

 

What are tense residential market areas?

Areas where the average burden on the personal budget of mortgage or rental costs plus basic costs and utilities exceeds 30% of the average income or average household income. The validity period for declaring an area as a special focus residential market area is three years.

 

Important changes for landlords and tenants

The main measures of the Law for the Right to Housing (LAU) include the introduction of rent control in areas declared tense, the creation of a new reference index to update rents, new tax incentives or the possibility of taxing vacant apartments. Evictions, assistance for access to social and affordable housing or the creation of a public affordable housing stock are also regulated.

 

Existing rental agreements

For existing contracts between private individuals, the rent is based on the applicable agreement.  The upper limit of 2% in force in 2023 for the increase in the extension of rental agreements (for large owners as well as for small owners) will rise to 3% in the course of 2024, and a new rent index will apply from 2025. Fixed-term rental contracts (11 months or less) are not yet part of the regulation.

 

Expanding the definition of large property owners

A landlord is considered a large landlord, the natural or legal person who owns more than 10 urban properties, excluding garages and storage rooms, or a built area of more than 1,500 m2, or 5 or more, in zones declared as a tense market. Those prohibited from setting rental prices above the established rent index.

 

New rental agreements and applicable cap depending on the landlord

The application of Spanish rental price caps in “tense areas” varies depending on whether you are a small or large landlord.

For a private landlord, indexation is applied to the previously 5 year applicable rent can be applied. Maximum increase of 2 % in 2023, 3% in 2024 and the new index from 2025. It may be increased by up to 10% if renovation or improvement work has been proven that leads to energy savings or accessibility of the apartment or if the rental agreement is concluded for a term of 10 or more years.

 

For large tenants, on the other hand, a reference price index system comes into force through which limits the maximum price, taking into account the conditions and characteristics of the apartment. The parties may agree that the general maintenance costs of the property, its services, taxes, duties and obligations, which are not subject to individualization are to be borne by the tenant. However, if the property is in a tense market area and this point was not included in the previous contract, it cannot be taken into account in the new contract.

 

Extraordinary extensions of rental agreements for vulnerable people

The tenant can request an extraordinary extension of one year if he proves that he is in a situation of social and economic hardship and as long as the landlord is a large owner of apartments. For this request for an extraordinary extension, the tenant must have his or her social and economic vulnerability certified on the basis of a report issued last year by the municipal or regional social services.

 

Real estate agent costs are borne by the owners

The agreement also provides that real estate fees and costs incurred when renting a property will always be paid by the owner of the property and not by the tenant.

 

IBI surcharge for empty houses

The surcharge on real estate tax (IBI) also comes into force immediately for apartments that have been empty for at least two years, according to the third final provision of the regulation. A surcharge that could rise from the current 50% to up to 150%. In detail it says: “The surcharge for permanently unoccupied residential properties is regulated in the real estate tax (IBI), which can be levied on houses that have been vacant for more than two years, with at least four apartments per owner, except for legitimate reasons for temporary unemployment. “

 

Tax incentives in income tax return (IRPF) for tension areas

One of the changes is the general reduction in the net rental yield that landlords can claim on new rental agreements from the current 60% to 50%.

Tax incentives:

1. Tax reduction of 90% if the landlord concludes a new rental agreement in a tight housing market area and reduces the initial rent by more than 5% in relation to the last rent.

2. Tax reduction of up to 70% if renting to young people between 18 and 35 years old, to public administration or to third sector entities, public housing program or social economy.

3. Tax reduction of up to 60% if the apartment was subject to renovation work in the two years before the rental agreement was concluded.

 

Implementation schedule

The regulations apply to contracts that began on March 13, 2024, with specific provisions for specific situations.

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Disclaimer: The percentages and numerical information mentioned in the article are merely informative and orientate information and there is no guarantee that they are accurate or up-to-date, as the applicable legal and tax regulations are subject to constant changes and vary depending on the personal situation of each individual. For current and exact information, please contact your tax advisor. We are happy to put you in touch with a local advisor in Spain.

A Guide to Fees and Taxes for House Buyers in Catalonia

Purchasing a house is a significant milestone, but it comes with its fair share of financial responsibilities, particularly in terms of fees and taxes. Potential house buyers must be well-informed about the various charges they will incur during the home buying process. In MySpot Barcelona we work closely with external legal and financial experts who are specialized in the real estate sector as well as independent mortgage brokers who give you a in depth analysis of your financial situation and options. Each of those “gestors” collaborates with a wide range of banks from whom they tend to get better mortgage rates than an individual buyer and can give you a healthy overview of your financial options and costs.

 

Spanish property taxes vary depending on whether you are buying a new home or a resale property. New refers to a property that has never changed hands before – in this case; it is usually sold directly by the developer. Resale refers to homes that have been sold at least once before. This includes new properties that were bought by banks or taken on by them in case of default on mortgage payments, for example.

 

1. Property Transfer Tax (ITP):

 When buying a second-hand property in Barcelona, buyers are required to pay the Property Transfer Tax (Impuesto de Transmisiones Patrimoniales or ITP). This tax is calculated based on the property's purchase price and follows a sliding scale. The ITP rates can range in general from 5% to 11% of the property's value, with lower percentages applied to less expensive properties and higher percentages for pricier ones.

 

2. Value Added Tax (IVA):

 For newly constructed properties or those being sold for the first time after significant renovations, buyers will encounter the Value Added Tax (Impuesto sobre el Valor Añadido or IVA). Unlike the ITP, which is specific to second-hand properties, the VAT applies to new constructions and is set at a standard rate around 10% of the property's purchase price.

 

3. Notary and Registry Fees:

Formalizing the property transfer requires a notarial deed, and buyers are responsible for paying the associated notary fees. These fees are determined based on the property's value, the complexity of the transaction, and the notary's tariff. As orientation, factor in between 0.5% and 1% of the price but consult a tax advisor as that % might vary from year to year.

 

4. Land Registry fees

The Land Registry (Registro de la Propiedad) officially records the ownership of the property in your name once the purchase has been completed. For this, fees are charged depending on the purchase price and whether a mortgage is involved. As of 2024 the fees can range between 0.5% and 1% but those subject to yearly revision.

 

5. Legal Fees:

Its strongly advised to engage a lawyer's services during the property purchase process. Expect to pay around 1% of the price for legal services, more if the purchase involves complex negotiations or legalities. At MySpot we work with an excellent law firm and are happy to help you out.

 

6. Stamp Duty:

While not applicable throughout Spain, some regions, including Catalonia, may impose a Stamp Duty (Impuesto de Actos Jurídicos Documentados or AJD). This tax is typically levied on certain documents involved in the property transaction, such as the mortgage deed, and the rate can vary.

 

As a rough estimate a property buyer in Catalonia should have at least 32% of the selling price available in own resources, if they require mortgage for the purchase: approx. 20% as a self share for mortgages, approx 10% ITP or VAT and approx 2% notary and registry fees. The real estate agency fee is paid exclusively by the seller.

 

To navigate the house buying process successfully reach out for guidance from MySpot Barcelona, your trusted boutique real estate agency in the heart of the city. We will ensure our buyers make informed decisions and enjoy the journey of acquiring their dream home.

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Disclaimer: The percentages and numerical information mentioned in the article are merely informative and orientate information and there is no guarantee that they are accurate or up-to-date, as the applicable legal and tax regulations are subject to constant changes and vary depending on the personal situation of each individual. For current and exact information, please contact your tax advisor. We are happy to put you in touch with a local advisor in Spain.

Guide to Fees and Taxes for House Sellers in Catalonia

If you are planning to sell your property in Catalonia MySpot Barcelona is at your side at any step of the process. We make sure you understand the various fees and taxes and ensure a smooth transaction. 

 

1. Capital Gains Tax or Personal Income tax (IRPF; Plusvalía en Renta)

One of the primary taxes that house sellers in Barcelona need to account for is the Capital Gains Tax (Impuesto sobre la Renta de las Personas Físicas or IRPF). This tax is applicable on the profit made from the sale of the property meaning it applies on the difference between the value you acquired the property and the value you are selling it. The IRPF rate can vary depending on the length of ownership, with a lower rate for properties owned for more extended periods and can vary between 19-26% (Status 2023, objective to yearly changes).

 

It must be taken into account that from the sale value we must subtract the expenses and taxes of the sale that we have to assume as sellers (e.g. real estate commission), and from the purchase value we will have to subtract the amortizations (if any) and add the investments. Also keep in mind that there might be certain exemptions or reductions based on factors like reinvestment of the proceeds into another property within a specific time frame (e.g. if you invest in a new primary residency within 2 years of the sales of your primary residency). Consult a tax advisor to understand the tax implications in your specific case.

 

2. Municipal Capital Gains Tax (Plusvalía municipal):   

In addition to the CGT/IRPF, house sellers are also be subject to the Municipal Capital Gains Tax, commonly known as "Plusvalía" aka the Impuesto sobre el Incremento de Valor de los Terrenos de Naturaleza Urbana (IIVTNU). This tax is levied by the local municipality and is based on the increase in the land's value since the property was acquired. In 2023 the maximum applicable tax rate was 30% but each city council establishes its own tables and bonuses on yearly base to determine the amount to be paid by each taxpayer. Consult with your tax advisor for the current rates. The seller has one month from the date of the signing of the deed to cover this tax at the city hall (ayuntamiento). Its often possible to settle this tax directly via the notary that signs the deed. The information about the amount to be paid can be obtained by calling directly to the city hall with the details of the Impuesto sobre Bienes Inmuebles (I.B.I or Real Estate Tax) on hand and get the information via telephone.

 

3. Objective Increase in Taxable Base of Land Value (Incremento objetivo de la base imponible del valor del terreno).

Its calculated by multiplying the cadastral land value by a coefficient based on the number of years the seller has owned the property. The Spanish Treasury guidelines set the coefficient based on the time period the property has been owned (in 2023 the rates were at  0.14% for properties owned for less than a year, and 0.45% for properties owned for 20 years or more.) Data subject to yearly changes.

 

The Plusvalía tax rate depends on factors such as the property's location and the time of ownership.

 

4. Real Estate Agent's Commission:

 

Due to the competitive and complex nature of the real estate market in Catalonia, its common practice to engage a real estate agency like MySpot Barcelona to help with the property sale. The agent's commission is either a fixed price or percentage of the property's final selling price and is negotiated between the seller and the agent before listing the property. In Barcelona, the normal rate is anything between 3-6% but can vary on individual base.

 

5. Lawyer or Legal Advisor Fees:

 

Although not mandatory, it is advisable to hire a local lawyer or legal advisor to guide you through the selling process and ensure that all legal requirements are met. Their fees will depend on the complexity of the transaction and the services they provide. At MySpot we work with specialized real estate lawyers and are happy to make an introduction.

 

6. Mortgage Cancellation Costs:

 

If the property being sold has an existing mortgage, the seller may need to pay mortgage cancellation fees to release the property from the mortgage agreement. These fees can vary depending on the terms of the mortgage and the lending institution - but they typically range from a few hundred to a few thousand euros. As these costs can significantly impact your finances, it's essential to contact your lender directly and request a breakdown of the specific cancellation costs applicable to your mortgage (“provision de fondos”). The mortgage is canceled directly in the notary at the moment of signing the deed.

 

6. Energy Performance Certificate (Certificado de Eficiencia Energética or CEE):

Before selling your property, you are legally obliged to obtain an Energy Performance Certificate, which shows the property's energy efficiency. This certificate may come with a cost that can vary from €150 – €250.

 

Summary:

Selling a house in Barcelona involves several fees and taxes that house sellers must consider to ensure a successful and financially viable transaction. The Capital Gains Tax (CGT) on the profit made from the sale is a significant factor, along with the Municipal Capital Gains Tax (Plusvalía) based on the land's value increase. Real estate agent's commissions, notary and registry fees, and potential mortgage cancellation costs further add to the seller's financial responsibilities.

 

To navigate the property sale process effectively, seek advice from real estate professionals like MySpot Barcelona who are also happy to introduce you to financial advisors. By leaving house sellers well informed about the fees and taxes we empower them to make informed decisions and successfully complete the sale of their property.

                                                                            ****
Disclaimer: The percentages and numerical information mentioned in the article are merely informative and orientate information and there is no guarantee that they are accurate or up-to-date, as the applicable legal and tax regulations are subject to constant changes and vary depending on the personal situation of each individual. For current and exact information, please contact your tax advisor. We are happy to put you in touch with a local advisor in Spain.

Golden Visa: How to obtain spanish residency with real estate purchase.

What is the "Golden Visa" and how is it obtained?

Acquiring residency in Spain through a real estate purchase is possible, and it is known as the “Golden Visa” program. The process involves purchasing a property in Spain that is worth at least 500.000 Euros.

Here are the steps to obtain Spanish residency through a real estate purchase:

 1. Find a Property:

The first step is to find a property that meets the minimum investment amount of 500.000 Euros. Ask us for our MySpot Barcelona portfolio.

2. Apply for the Golden Visa:

Once you have found a suitable property, you can apply for the Golden Visa. This involves submitting an application to the Spanish authorities and providing proof of the property purchase and investment amount.

3. Obtain a NIE:

In order to purchase a property in Spain, you will need to obtain a NIE (Número de Identificación de Extranjero), which is a tax identification number for foreigners. You can obtain a NIE from the Spanish Consulate or Embassy in your home country or in Spain. At MySpot we are happy to help you with all the paperwork and to take the weight off your shoulders.

4. Finalize the Property Purchase:

Once your application is approved, you can finalize the purchase of the property. You will need to pay the purchase price and any associated fees and taxes.

5 Obtain Residency:

After completing the property purchase, you can obtain residency in Spain. This will allow you to live and work in Spain, and to travel within the Schengen area without a visa.

It is important to note that there may be additional requirements, such as health insurance or proof of financial means to support yourself, depending on your specific situation. It is recommended to consult with a legal professional familiar with Spanish immigration laws to ensure a successful application.

Contact us at My Spot Barcelona with your request and we'll guide you through it.

What does a Real Estate Personal Shopper do?

As real estate personal shopper, or buyer's agent, MySpot Barcelona helps exclusively the property buyers in the process of purchasing a property. Our main goal is to represent and protect the interests of the buyer during the entire real estate transaction, from the property search, visits, negotiations, due diligence to the final closing.

If you're looking to buy a property in Barcelona, the agents you meet receive their commission from the seller of the house, not from the buyer which leads to a conflict of interest as the agent put the focus on where the money comes from. In the rental sector its different as commission can be obtained from both sides.

 

If you want to be sure that the agent only represents your interests contracting a real estate personal shopper is the way to go. We have in-depth knowledge of the local real estate market and can provide you with valuable insights into the different neighborhoods, property types, price ranges as well as legal and urban specifics of properties to avoid surprises later.

How exactly can MySpot Barcelona assist you?

 

1. Negotiations: We can negotiate with the seller or their agent on your behalf to ensure that you get the best possible price and terms for the property you want.

 

2. Due diligence: We provide guidance on bureaucratic procedures, make legal, urbanistic, administrative and community background checks on interesting properties  and help to ensure that all the necessary paperwork are completed correctly and on time.

 

3. Legal and financial advice: As buyer's agent we can provide you with legal and financial advice to ensure that the transaction is conducted smoothly and that you're protected from any legal or financial risks.

 

4. Property management: Once you have purchased your property,  we can help you recruit property management services. This can be particularly useful if you are buying as an investor or if you do not live in Barcelona. We can rent it out for you and also help you find local interior decor and property management providers.

Overall, as a real estate personal shopper we can make the process of buying a property in Barcelona smooth, easy, and stress-free. We can also save you time and money in the long run by helping you avoid common pitfalls and making sure you get the best possible deal.

 

 

Step by step process of buying property in Spain

Buying a property in Spain can be a straightforward process if you follow the necessary

steps. In MySpot Barcelona we help you navigate through the process and are with you at

any step of it:

1. Find a property: Start by searching for properties that fit your budget and

preferences – or let MySpot do the work for you. We can find the right property for

you or you can search online for properties listed on popular portals such as

Idealista, Habitaclia or Fotocasa.

2. Hire a lawyer or our legal service at MySpot Barcelona: Once you have found a

property, it is advisable to hire a lawyer or a trusted agency like My Spot Barcelona

who can guide you through the legal process. We can help you understand the

contract, negotiate the terms of the purchase, and ensure that the property has all

the necessary permits.

3. Obtain an NIE number: An NIE (Número de Identificación de Extranjero) is a tax

identification number that is required for all foreigners who wish to purchase

property in Spain. You can obtain an NIE number at a police station, a Spanish

consulate in your home country or with us for a minimum fee – headache and

hassle-free.

4. Make an offer: Once you have found a property you like, you can make an offer to

the seller. The offer should include the price you are willing to pay, any

contingencies, and the timeframe for closing the deal.

5. Sign a deposit contract: If the seller accepts your offer, you will need to sign a

deposit contract (Las Arras) and pay a deposit. The deposit is typically 10% of the

purchase price and is held in escrow until the sale is completed.

6. Conduct due diligence: Before the sale is finalized, you should conduct due diligence

on the property. This includes verifying that the property has all the necessary

permits and that there are no outstanding debts or liens on the property. At My Spot

Barcelona we do all the checks for you so you don’t need to worry about anything.

7. Sign the deed: Once you are satisfied with the property, you can sign the deed

(escritura) at a notary's office. The deed is a legally binding document that transfers

ownership of the property from the seller to the buyer. At My Spot Barcelona we will

check all documents for you, prepare any paperwork that you will need to hand in

and accompany you to the notary visit. We will guide you through the whole process

so you wont miss any detail and feel in save hands throughout the process.

8. Pay the remaining balance: Once the deed is signed, you will need to pay the

remaining balance of the purchase price. This can be done at the notary's office or

through a bank transfer. We accompany you to secure save payments or can do this

for you in case you are not in the country.

9. Register the property: Finally, you will need to register the property with the Spanish

Land Registry (Registro de la Propiedad) to complete the purchase. Let us do the

necessary paperwork for you so you don’t have to work through mountains of

paperwork in Spanish.

At MySpot we take the headache out of the selling and buying process and guide you

through it at every step of the way. Let us know what we can do for you.

To new beginnings. Here we are. Here we start.

To new beginnings

“Another real estate agency?” you might think.

And you are right to wonder.

Barcelona is one of the most sort after real estate market in Europe. Its also one of the most saturated sectors in which a plentitude of global players, medium and small agencies as well as independent agents compete fiercely for properties and clients.

But quantity doesn’t equal quality.

My own experience with agents and agencies when moving to Barcelona was sobering and disappointing, lacking the most fundamental values – trust, responsibility, and responsiveness. Frustrated house-hunting stories of friends as recent as 2023 confirmed my assumption that quantity not necessarily mean quality and that we can do better.

We want to do better simply by making a difference for our clients: being available, responsive, kind, empathetic as well as international and culturally aware.

We aim to become the trustful partner for our local and international clients, to listen and make ourselves responsible for their needs.

We won’t invent the wheel new, but we aim to make house hunting and selling a more pleasant and a more joyful experience.

And to give a helping and trustful hand, especially overseas and international clients, when navigating the local real estate market in Catalonia and Barcelona.

Let us know how we are doing. Your feedback and ideas are important to us – to help us to grow and to get better.

Good reasons for buying property in Catalonia and Barcelona

Good reasons for buying property in Catalonia and Barcelona

12 years ago, me and my husband came to Barcelona and never left. We choose Barcelona as the place to start a family, and the boutique agency MySpot Barcelona. And for many foreigners it is the same. Catalonia and Barcelona are among the most requested real estate markets in Europe – many come and many stay to make it their first or second home. And for some there is no better place in Europe. All are attracted by various good reasons: 

 

1.     Location

Catalonia and Barcelona, in the northeast of Spain, and are known for their stunning Mediterranean coastline, pyrenes mountainous landscapes, and rich history and culture. This makes it an ideal location for those seeking a balance between the bustling city life and peaceful rural living.

2.     Climate

Catalonia and Barcelona enjoy a Mediterranean climate, with mild winters and hot summers, making it an attractive destination for those seeking a year-round warm climate.

3.     Strong economy

Barcelona is the economic and financial centre of Catalonia, which is one of the wealthiest regions in Spain. The region has a diverse economy with strong industries in tourism, technology, and manufacturing, providing a stable and growing market for property investments.

4.     High rental yields

Due to the strong demand for rental properties, the rental yields in Catalonia and Barcelona are some of the highest in Spain, making it an attractive option for buy-to-let investors.

5.     Exclusive real estate

architectural rich Barcelona and the hills surrounding the city and the coastline are home to some of the best real estate in Spain, some from world-famous architects. Whatever you are looking for MySpot Barcelona will find it. No matter if its modern and minimal hill estates, luxurious villas, new developments, restored old “Masais” (country houses), a penthouse with view in Sarria or artist studio in Poble Nou – this region has it all.

6.     Cultural and touristic appeal

Barcelona is one of the most popular tourist destinations in Europe. The city has a unique blend of modernity and tradition, making it an attractive location for those looking to buy a holiday home or a second property.

7.     Investment potential

The property market in Catalonia and Barcelona has seen steady growth over the last few years, making it a prime location for investment. To part thanks to the “golden visa program” allowing foreigners with certain investment strengths to obtain the Spanish residency permit. With a large student population and a growing number of expats, the demand for affordable or time-limited housing is expected to rise in the coming years.

 

8.     Quality of life

Catalonia is known for its high quality of life, offering a laid-back lifestyle, beautiful scenery, and excellent healthcare and education systems, rich culinary scene, a love of festivals and celebrations, and a passion for sport. The region is also home to several UNESCO World Heritage sites, including Gaudi's Park Güell, the Sagrada Familia, medieval monastery of Poblet and the Roman ruins of Tarragona as well as many international schools and universities, making it a popular choice for families and students.

9.     Infrastructure

Catalonia and Barcelona have excellent transport links, including international airports, high-speed train connections, and a well-developed road network, making it easy to explore the region and beyond.

 

Overall, buying property in Catalonia and Barcelona offers a unique combination of location, climate, culture, lifestyle, investment potential, and infrastructure, making it a compelling choice for buyers looking for a diverse and dynamic place to live or invest.

 

Give us a call at MySpot Barcelona and we chat more about that.

Step by step process of buying property in Spain

Buying a property in Spain can be a straightforward process if you follow the necessary steps. In MySpot Barcelona we help you navigate through the process and bare with you at any step of it:

 

1.     Find a property: Start by searching for properties that fit your budget and preferences – or let MySpot do the work for you. You can search online for properties listed on popular portals such as Idealista, Habitaclia or Fotocasa and contact MySpot for our extensive archive including properties that are not listed online.

 

2.     Hire a lawyer: Once you have found a property, it is advisable to hire a lawyer or a trusted agency like MySpot Barcelona. We can bring you in touch with our network of trusted legal advisors that will guide you through the legal process. We can help you understand the contracts, negotiate the terms of the purchase, and ensure that the property has all the necessary permits.

3.     Obtain an NIE number: An NIE (Número de Identificación de Extranjero) is a tax identification number that is required for all foreigners who wish to purchase property in Spain. You can obtain an NIE number at a police station, a Spanish consulate in your home country or with us for a minimum fee – headache and hassle-free.

4.     Make an offer: Once you have found a property you like, you can make an offer to the seller. The offer should best be in writing which the seller has to countersign once accepted, include the price you are willing to pay, any contingencies, and the timeframe for deposit contract (Las Arras) and the deed (Escritura).

 

5.     Sign a deposit contract: If the seller accepts your offer, you will need to sign a deposit contract (Las Arras) and pay a deposit. The deposit is typically 10% of the purchase price and is held in escrow until the sale is completed.

 

6.     Conduct due diligence: Before signing the final deed, you should conduct due diligence on the property. At My Spot Barcelona we verify for you that the property has all the necessary permits, that there are no outstanding debts or liens and do all the documentary checks so you don’t need to worry about anything. If needed, we send an architect for you to do a structural check to avoid unwanted surprises.

7.     Sign the deed: Once you are satisfied with the property, it is time to  sign the deed (escritura) at a notary's office. The deed is a legally binding document that transfers ownership of the property from the seller to the buyer. At My Spot Barcelona we will prepare any paperwork that you will need to hand in and accompany you to the notary visit.

 

8.     Pay the remaining balance: Once the deed is signed, you will need to pay the remaining balance of the purchase price. Buyers and Sellers banks must be consulted about the preferred form of payment (with cheque, notary's office or via bank transfer via Bank of Spain) and their requirements of closing eventual loans on the property. We accompany you to secure save payments or can do this for you in case you are not in the country.

 

 

9.     Register the property: Finally, you will need to register the property with the Spanish Land Registry (Registro de la Propiedad) to complete the purchase. Let us do the necessary paperwork for you so you don’t have to work through mountains of paperwork in Spanish.

 

At MySpot Barcelona we take the headache out of the selling and buying process and guide you through it at every step of the way. Let us know what we can do for you.

 

 

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