Costa Blanca

GENERAL INFORMATION ABOUT COSTA BLANCA

Costa Blanca means “white coast”. It is located near the Mediterranean coast in the Alicante province, running up to the borders of Murcia. There are two general scenic areas. When you go to the North you will find a row of mountains that stand guard next to the sea. The jagged cliffs look formidable and seem to protect this paradise, adding to the sense of being in a sanctuary. When you go to the South you’ll find a wide plain of sand patches, dotted by palm trees and salt deposits. These two areas surround the famous beaches of Costa Blanca.

Costa Blanca is also blessed with abundant fields of almond trees, fruit orchards, vineyards, and magnificent palm trees.

THE CLIMATE OF COSTA BLANCA

One of the reasons why people love living in Costa Blanca is the perfect climate. You will experience a very sunny yet mild climate where you get over 300 days of sunshine per year with a comfortable average temperature of about 18ºC.

In this climate people thrive. No wonder the World Health Organization declared Costa Blanca to be one of the healthiest areas of the world. There is little humidity, which is ideal for those who are afflicted by arthritis and other climatically influenced health problems. Others praise the miraculous healing powers of the salt flats at Torrevieja. One of the more popular tourist attractions, the mud near the waters has a high concentration of minerals.

THE LOCATION OF COSTA BLANCA

Alicante is found at the heart the coast that divies the Costa Blanca into two regions. Visitors can revel in the green foothills of the Sierra De Montgo, or explore the steep cliffs and pebbled coves found in south Denia. But on the long sandy beaches one can look at out the beautiful sea, relaxing in the shallow lagoon of Mar Menor or partake of the partymaking in the holiday town of. Dehesa de Campoamor. At the South stands La Manga which is a premium resort area with wide variety of sporting facilities. It is particularly famous for its golf and sailing. The region is also proud of its strong history and culture as seen in the many fiestas, or festivals, which number over 400 and are held throughout the year.

It’s important to get professional advice when buying property, whether it’s a brand new house or one that’s been previously owned. It’s not really “frugal” to scrimp on the services of a good solicitor or fiscal representative if you will have to pay for your mistakes down the road. Think of it as an investment in your peace of mind that at the end of the day everything will be in order.

Speculative building is very rare in Spain. This is where the owner builds the house and then looks for someone who is interested in buying it. It is more common for people to purchase a plot of land and then find a builder to construct the home. In fact many people will go through the process of finding a plot of land, buying it, hiring an architect and then finding a construction company to put it all together. Throughout this process either you or your legal counsel will work with all the authorities. The documents and legalities involved are not for the faint hearted and you will appreciate having a lawyer on your side.

However there are many instances when people will purchase a home “off the plan”. In this situation you will be shown a development by a builder (this is more likely an urbanization), invest in the plot of land and then be given a brochure of standard designs. From here you will choose the design of your home. In most of the cases you will be given staged payments. Usually the payments are divided as 20% downpayment, 20% once the roof is finished, 20% when the doors and window frames are finished, 20% when the building is finished, 10% when the exterior works (such as pool and patio) are finished, and the final 10% only after 6 or 12 months once you are convinced there are no (major) structural problems.

It is crucial that if you are purchasing the land and the building from the same developer, that you will insist that you have two contracts: one for the land and the other for the building. Get the title deed on the land before even finalizing the building contract. You should also be given a “termination guarantee”. This insurance policy will come in handy if the project falls through.

Buying a house in Costa Blanca isn’t very different from getting it anywhere else in the world, but there are a few details worth noting.

Real estate agents in Spain follow much stricter regulations than those in Britain. The government requires them to get a license, and they go through very thorough qualification tests. When hiring a real estate in Spain, ask to see their affiliations. One of the most common affiliations in the Costa Blanca region is the Agente de Propiedad Inmobiliaria (API). This will assure you that you are getting a capable and ethical real estate agent, minimizing your risk of being preyed on by independent rogue agents who want to take advantage of confused and inexperienced foreigners.

It’s common for people to hire both a British and a Spanish real estate agent, and then having the two coordinate with each other As long as the Spanish agent is legitimate, this is a valid way of navigating the real estate process, though you will have to factor in that both of them will have to be paid. It will be worked into the commission the seller has to agreed to pay the agent, and, naturally, this will affect the overall price of the property.

Once you have identified your dream house, you will need to finalize the price. Speak directly to the seller. If you enter negotiations with the estate agent, he may take a cut from the total amount before giving it to the seller. This is outside of the commission that he would get from the transaction. So this isn’t fair, in fact it’s swindling, and incredibly unfair to both you and the owner of the home.

If you hadn’t gotten a lawyer, you should do it at least for this last part of the sale. The moment you have agreed on a final price a lawyer must be part of all the steps of the process. This is where so many transactions go horribly wrong and a lawyer is there to protect your interests.

After all, you will already be giving money to the owner of the home. It is industry practice to pay 10% deposit to the vendor or his agent. Unlike Britain there is no clause of “subject to contract”. If you back out of the deal, you lose your deposit. If the owner backs out out, he not only returns your 10% but also pays you an additional 10%. These are just some of the clauses your lawyer can put to protect your money and your interests.

Many people find the process of selling a home to be very problematic and time consuming. It is not easier than buying a home (contrary to popular belief), but has different issues and concerns. Owners have to think about how to price the property, how to attract buyers, how to promote it and make it look good so it has curb appeal. And many of them feel that this is one case where they should get a real estate agent.

While you can in theory just stick a For Sale sign in front of your villa, you can’t expect to get a lot of inquiries. Even putting an ad in a newspaper won’t always generate a positive response. It is through a real estate agent—her contacts, her marketing network, her ability to contact clients from all over the world—that you can really get the kind of buyers that you are hoping for.

It’s important to choose the best real estate agent, someone with a good network, a solid set of ethics, a reasonable and clearly described commission scheme. It’s pointless to see every real estate agent in your area, since they’ll be talking to the same set of buyers but do consider getting different real estate agents from different towns.

Most agents will help you for every step of the selling process, from posting your ad to entertaining the customer and arranging the visits to your home. They will also advise you on requirements and the process of transferring the deed. Once this is completed you will be given a 10% deposit from your new buyer. They can pay you directly or give it to your lawyer or real estate agent for safekeeping. Remember once you sign the contract you can’t offer the homes to other buyers. If you back out of the deal you will return the deposit and incur a penalty of an additional 10%.

The property officially passes from your hands to theirs when you have the contracts signed at the notario. Begin the process of moving out of the home and having the utilities transferred. You should have a timetable for this which you and your buyer will agree on.

When you buy or sell property in Spain you will have to pay some taxes. This is just some of the kinds of fees you will encounter. Do factor this into your budget.

The seller will usually pay the capital gains tax and what is called plus valia. The buyer is responsible for notary fees, property register fees, and capital transfer tax.

If you are not a resident of Spain during the time of the sale, then you have to pay this tax in advance at the Tax Office.You have 30 days from the moment the contract is signed to complete this requirement.

The deposit is about 5% of the house’s declared value. If you don’t pay it the debt will be charged to the property at the Property Register. To avoid missed payments this amount is usually automatically subtracted from the the final sale price. The owner and the agent will normally get the receipt.

The Seller is then responsible for the capital gains declaration which must be paid within four months after the contract is signed. The tax rate is computed, and then if the amount is greater than the deposit, then he has to give the balance to the tax office. The tax office will give a refund if the tax paid is greater than the tax required. This refund may take anywhere from one to two years.

Capital gains tax is defined as the profit the seller made from the property. You subtract the previously declared value with the new value. If the house was bought before December 31 1994, you get a discount of 11.11% is allowed for ever year the Seller has owned the property since 1996 (except for the first 2 years). If the property was owned before 1985 and has been with the owner for 10 years he will get a full discount and will not have to pay tax.

Other fees include Transfer Tax, Notary´s fees, and Property Register fees. These are handled by the seller, as well as any renovations on the property since he purchased it. Do provide the VAT invoices.

This information is for the properties that fall within the Alicante Province, including Costa Blanca. They do not necessarily apply Valencia, Murcia or other provinces.

An assessor (also called a gestor) is a general consultant who helps you with tax concerns. They handle the administrative functions of taxes for both Spanish residents and non residents. Aside from municipal taxes such as rates (IBI), Car Tax (Impuestos Vehiculos) and rubbish removal (Basura), they will also help businessmen and entrepreneurs get their initial Tax Licence (as well as succeeding renewals). However, for Spanish residents, these functions can also be handled by an accountant.

Assessors are also responsible for conveyancing, a necessary component or buying or selling homes. Some functions are checking searches and the existing Escritura, coordinatingwith the Notary office, apportioning completion monies for relevant taxes, facilitating the processing of Powers of Attorney and Registration of the new Escritura, and handling the contract/name changes for the various municipal taxes and utility payments. They can also be given the task of one-time administrations of Plus Valia Tax and/or Capital Gains Tax payments/refund requests.

Assessors can also help people puchase newly constructed homes. They can work with the constructor on legal concerns. Many companies will offer estate agency service.

Assessors can also help process the residency requirements. They can give general advice, handle the paperwork, and submit the relevant documentation to the local Comiseria and Seguridad Social (Social Services) if necessary.

Asssessors can also help with the management of the will. They can offer some valuable generable advice, and then work with the Notary office to have it authenticated. Unlike other countries Spain’s law demands all wills to be notarized. IN line with this the assessor will also help process the inheritance tax, and all the documents that will be part of transfering a Spanish estate to the heirs.

They can also assist with house and health insurance, and processing subsequent claims or queries.

Assessors are also responsible for the taxes and documents needed for buying, selling or importing a car. These include transfers of ownership, matriculation of motor scooters changes of address, duplicate documentation, and importation of vehicles. .

The Costa Blanca is a perfect paradise, the ideal place for a relaxing break and a bit of fun in the sun.

This sunny, warm area is a haven for tourists who flock to the 170 mile stretch of white sandy beaches. The place is blanketed by the brilliant blue skies, which reflect on the calm waters of the Mediterranean. It is located on Spain’s east coast, at the Alicante region. The beaches start from Denia in the north to Mazarron in the south. As the thousands of visitors it gets every year agree, it is heaven on earth.

Costa Blanca has beautiful beaches but that is not the only thing it has. There’s plenty of activities that you can enjoy in the Costa Blanca.

One of the attractions you can visit is the high-rise town of Benidorm. It offers numerous entertainment opportunities, and can give you many things to do when you’re ready for something more exciting than baking under the sun.

You can also engage in Costa Blanca’s many kinds of water sports including , dinghy sailing to kite-surfing. You can also visit the sprawling and actionpacked Terra Mitica water theme park.

If you’d rather not do that then you can find a long list of other physical activities such as quad bikes, golf, go-karting, mountain climbing.

Want to just unwind and see the sights? Take a leisurely walk on the area’s scenic routes or hire a car and explore the fascinating villages. In fact you should set aside a day to tour the countryside, where you’ll see the other side to the Costa Blanca. Discover that behind those limestone hills and cliffs are a lot of other picturesque terrain where you can have a picnic or take lots of pictures. One thing you can do is to take the circular route in, and literally through, the Siena de Bernia, because the path transforms into a narrow, low natural tunnel that cuts through the actual mountain ridge.

Even if you don’t want to go walking, consider traveling inland by car. Some of the villages are actually quite famous, such as the quirky Guadalest with its cliff hanging buildings, not to mention the Castel de Casrels. On an inland drive, you’re see a lot of amazing views and beautiful countryside. There are also many restaurants, often giving a memorable lunch on a shady terrace with stunning views.

Spain’s Costa Blanca and Torrevieja regions are extremely popular tourist destinations which attract visitors from all over the world. In fact, many of them choose to settle down there. The areas have a growing British and Irish community. Studies show that many of the UK citizens see Spain as their favorite place to buy property abroad. People from Northern Europe often take their yearly vacations here and many choose to invest in holiday properties or second homes in the area.

The Costa Blanca means “the white coast.” It is found on the Eastern coast of Spain, at the edge of the Mediterranean Sea. The Costa Blanca begins from city of Denia in the north and then winds towards the city of Torrevieja in the south. The area has over 100 kilometres of clean, sandy beaches. The beaches are a major tourist attraction. The area also has mountain regions along most of the coastline.

The city of Torrevieja is found just 50 kilometres to the south west of Alicante. Most tourists enter the region through the Alicante airport and travel the area with a rented car. The city’s name means “old tower.” This is actually in reference to old salt tower that has been standing there since the 19th century.

One of the reasons why Costa Blanca and Torrevieja are so popular is that they have one of the best climates in the region. They are blessed with the Mediterranean climate. It is sunny all year and has one of the best and most comfortable temperatures. Winters are not as cold and wet nor is It that humid.
In fact many visitors gush that the winters are mild, with warm temperatures and very little rain. The weather in the summer is warm and sunny and the summers are longer than in other areas of the country. The spring and autumn are still warm, but not as hot as in the summer months.

Are you thinking about buying a home in Costa Blanca? Why not visit the region and find out if it’s really for you? Try to make short but frequent trips at different points in the year, and not just the popular tourist season like summer. It’s very
Convenient to take frequent trips to the Costa Blanca. In fact you can try doing this over the weekend so you see how it’s like to live there during, say, winter, or the rainy months. You can enter the region through the Alicante Airport.

During your trips you can also shop for a real estate agent. Don´t limit yourself to just real estate vendors in the immediate area of Costa Blanca. Look into national agents, too.And look at various maps and plans. It would be good to know the area surrounding the city as well as any possible projects that are in store for Costa Blanca. You can get this from bookshops and kiosks.

Here are some additional tips. First of all, renting a car will make your trips easier. You will be more independent and can really go around the area. You can find car rentals at the Alicante airport.

Also stay in different parts of the region, not just at a favorite hotel. You want to see how each part of the city is like. For example what is the traffic like, how busy does it get, and how noisy does it get? See if it’s easy to access through public transport and check if you like the neighborhood. Is it private enough, or is too private? Can you get around easily, can you get the things you need without any trouble?

Don’t rush, take your time! There is nothing worse than buying a property on impulse. Try to look at several properties and compare the pros and cons. Be very honest and don’t try to ignore problems just so you can justify buying a home. Make an informed and logical decision. Look at your needs. How is the heating? Is the apartment accessible, does it have lifts and ramps. Through the Web there are innumerable combinations of posibilities to quickly find competent agents for purchasing real estate.

Investing in property in Costa Blanca is a great opportunity and will definitely pay off over the years. The real estate industry in Spain has led to a steady surge in property value for the last five years. Experts believe that the numbers are bound to climb.

The good news is that buying overseas properties are no longer an option open only to the very wealthy. Because of the competition between local banks, a Spanish mortgage for your new home in the beautiful Costa Blanca is just a few painless steps away. Banks in Spain want the business of real estate investors looking for property in the areaMortgage loans in Spain will generally cover 60% to 80% of a property’s value. Residents will usually be awarded better coverage than non-residents, which is often the case when one is buying property overseas.

When trying to get a mortgage loan in Spain, it is extremely crucial to familiarize yourself with the culture and Spanish law. Provided that your credit is good and that the mortgage payments won’t exceed 35% of your monthly wages, then there shouldn’t be any problems in finalizing a mortgage loan.

If you aren’t ready for the deluge of information, it is absolutely necessary to hire an English-speaking lawyer to oversee the loan process and property purchase. (Remember to get an objective lawyer that is not connected to the seller, real estate agency or bank.) There have been movements in Spanish legislation to create pro-buyer regulations to protect them from unscrupulous sellers and agents.

Never settle on the first offer. Instead, always make an effort to find out different packages and compare the services and rates of various banks. Informing banks of other offers from competitors may drive interest rate offers down even more, so don’t be shy in trying to haggle.

Usually, a mortgage loan is signed at a 20-year term Some interest rates can be as affordable as 2.5% , but the average interest is a little higher. However they are definitely lower than what you would get from the US and UK.