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THE A B C – Rule: Agent / Bank / Counsellor

 

Buying a property in Spain is always a  big decision and a serious commitment. A decision of that magnitude requires the best team of experts and advisers who know and understand the local property marketplace and can help you to make your all-important overseas property purchase.

You need three key experts to help you to safely view and buy your property in Spain: a trusted property :

(1)Agent, a (2)Bank or currency specialist, and an independent (3)Counsellor or lawyer or Notary. This team of experts is so important, we call them ‘The Golden Three’! It is critical to a successful overseas buying process that these three professional services are working for you at the earliest stage possible, to ensure that you have the right support and information available to you from the start. By using recommended professionals throughout the property buying process, you can avoid many of the common issues and pitfalls and that people often face when buying a property.

Villasvalencia has spent time getting to know trusted professionals in Spain who can help you save time, money, and provide you with peace of mind. We can recommend these ‘Golden Three’ experts to guide you through every stage of your Spain buying journey.

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Property in Spain: Spanish properties are getting older 

Property in Spain:

Spanish properties are getting older 

More than half of all residential buildings in Spain were built more than 40 years ago.That’s 25.2 million buildings that were constructed in 1971 or earlier

These are the findings  which found that the greatest proportion of old buildings in Spain were in the Basque Country (63,5 percent built more than 40 years ago), Catalonia (59,8 percent) and Aragón (56,2 percent).

The Spanish government has at its disposal almost €4.4 billion in funds from the Next Generation EU scheme with which to renovate many of these decaying residential structures, improve their energy efficiency and more. For private property owners, this includes an upcoming 60 percent tax deduction for certain renovation works.

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Why a luxury Property, if you have Valencia….

Valencia as a good alternative.

On the other hand the Balearic Islands and Malaga are the most popular places for luxury properties in Spain

The Balearic Islands, Malaga and Madrid are the most popular places where foreigners are looking to buy luxury homes in Spain, according to data from a study published this Tuesday by online real estate website Idealista. This is based on the searches for homes that cost over one million euros.

The Balearic Islands of Mallorca, Ibiza, Menorca and Formentera were the most popular with 29 percent of the searches, while Malaga came in second place with 16 percent of the searches by foreigners. The nationalities with the greatest interest in luxury properties in Malaga are British and Swedish.

In third place was Madrid with 15 percent of the searches for luxury properties, followed by Barcelona with 11 percent.

Germans, British and French are the most interested in buying luxury property in Spain

The Germans are the most interested in buying luxury homes Spain that cost over one million euros, according the report by Idealista, representing 18 percent of searches on their site.

This is followed by the British with 11 percent, then the French with 10 percent of the searches. The Americans with nine percent of the searches for luxury properties and the Dutch with seven percent, take fourth and fifth place.

Home renovations in the Basque Country are the most expensive in Spain

The Basque province of Álava is the of the most expensive place to carry out comprehensive home renovations in Spain, according to home renovation site Plan Reforma portal, which claims to have carried out more than 200,000 calculations of housing construction costs in the last eight years. Here, the company estimates that a major home renovation would cost around €35,000.

The is followed by another Basque province, that of Guipúzcoa, which is the second most expensive on the list. The Balearic Islands and Navarra come in third and fourth place, with the province of Pontevedra coming in fifth place.

Boom in demand for cave home properties

There has been a rise in demand for cave home properties in Spain according to local real estate agents, such as those in the small town of Guadix near Granada. Here, there are more than 6,000 cave homes, one of the greatest concentrations of cave homes in Europe.

Because of the rise in demand, prices for cave homes have also increased exponentially. Prices of cave homes go for varying amounts, however, and you can still grab some bargains. The Local Spain found one five-bedroom cave property being sold through real estate site Tecnocasa for €89,000 and another luxury five-bedroom cave home on Idealista for €495,000.

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Rental price in Spain fell by 6.7 percent in August

The average rental price of housing in Spain fell in August

The average. It now stands at €10.7 per square metre. According to the latest price report published, the Community of Madrid remained the most expensive place to rent in Spain with an average of €13.8 euros per square metre.

Rents were cheaper in August in six regions compared to the same month in 2020. Catalonia saw a decrease of 8.2 percent, Madrid a decrease of 8.1 percent, the Balearic Islands by -4.7 percent, Andalusia by -1.9 percent, and Valencia by -0.8 percent.

Brits are buying fewer properties than ever in Spain

Demand from British buyers fell by 2.62 percent between April and June compared to the first quarter of 2021, according to data from the College of Registrars, due to a combination of Brexit and the Covid-19 pandemic.

UK buyers accounted for 9.5 percent of foreign property sales in the second trimester of 2021, a decline from the 12.11 percent registered between January and March 2021.

This is well below the number of Brits who bought in 2015, a year that saw the highest number of British investors, who at that time made up 20 percent of foreign buyers.

While Brits still make up the largest group of foreign buyers in Spain at 9.49 percent, they are closely followed by the Germans at 9.04 percent, the Moroccans at 8.32 percent and the French at 7 percent.

The average price for renting a room in a shared flat in Spain at the end of 2020 was €269.49 per month.

Barcelona and Madrid were the most expensive places to rent a room with an average price of €453.91 per month and €426.88 per month respectively.

During the Covid-19 pandemic, however, rental prices have decreased rapidly. A study revealed that between May and November last year, Barcelona saw the sharpest fall in rents with prices per square metre slumping by 13 percent.

According to the Rentger blog by the same property search giants, rental prices continued to fall in the first quarter of 2021 by 1.9 percent.

Valencia is your future !

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The legal cash limits you can carry in Spain while travelling

Due to the pandemic, it is looking increasingly more likely that we are not that far away from a society where the days of physical cash are numbered, and on top of that, or maybe in order to smooth this transition long faster, the Spanish Tax Agency has recently put a cap on cash payments between individuals.

Even so, for the time being, there are still those of us who will want to carry cash on our person, especially if going on a trip maybe, or just for that feeling of knowing you have that available cash in your pocket in case of an emergency.

Most people might be totally oblivious as to exactly how much cash is the acceptable legal limit that they can carry at any one time, and according to The Informationthere is no marked limit if you want to travel with notes or coins, but, as the Bank of Spain points out, it will be necessary to declare the cash, “if the amount transported is equal to, or greater than, €10,000 in case of departure or entry into national territory, or €100,000 in the case of movements through national territory”.

These obligations come under the guidelines, according to the entity, as being “within the measures for the prevention of money laundering, and the financing of terrorism”, and in the case carrying in excess of €100,000 when traveling through Spain, a “special declaration” will need to be made before the Tax Agency.

Similarly, if an amount of cash that is over this limit is being carried in order to make a deposit of funds in cash in a bank, form S1 will have to be completed in advance, which the entity will request, otherwise, the fine in the event that the corresponding declaration has not been carried out, entails the confiscation of the total of the transported funds, their deposit, and a sanctioning file, as well as a fine of up to €600, and double the amounts transported.

A recent national survey conducted by the Bank of Spain revealed the rapid acceleration of the disappearance of cash, with 72.7 per cent of Spaniards saying that they never carry more than five coins on their person, which normally do not even total €5, although many respondents said they believed the existence of cash was important to keep prices lower, as reported by 20minutos.es.

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Britons kept buying in Valencia, Spain 2020

Britons still bought more homes in Spain than any other foreign nationality last year despite the Covid-19 pandemic and Brexit.

UK citizens remain ahead of the following nationalities: France, Germany and Moroccans. By regions, Valencia saw the most properties bought by foreign citizens with 13.493. Foreign buyers continued to pay more than Spaniards, an average of € 1791 per m2. Almost 36 % of all properties sold were over 100 m2 and over 82 % were resales. The regions with the most mortgages are Cataluña, followed by Valencia, Andalucia and Madrid.

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How to stay in Spain over 90 days – Residency visa overview

After 47 years, the United Kingdom will no longer be a Member State of the Union. The United Kingdom officially left the Union on the 31st January 2020, after both Westminster and the European Parliament ratified the Withdrawal Agreement.

As most UK nationals are already aware by now, you may not spend more than 90 consecutive days in Spain post-Brexit. This pesky limitation is known as the 90/180-day rule. It should be noted that, within a calendar year, you may stay up to 90 days within every rolling six-month period. In plain English, you may remain in two separate stays of up to 90 days each within every calendar year (without visa). A visa is only required when you want to spend over 90 consecutive days in Spain.

Over the course of the previous five months, we have painstakingly published detailed in-depth articles that explained the different legal ways to circumvent the 90/180-day rule. In today’s article we are going to gloss over the four main legal options. Please be advised the point of this article is not to go into every nook and cranny, albeit to skim over the surface light-heartedly and collate all the different legal options open to UK nationals, acting as a repository. If a reader wants to delve in deeper, we advise you follow the links supplied below (just click on them), or simply contact us – one of our friendly staff will be delighted to have a chat with you.

For full disclosure, we should point out there are other visas you can apply for, besides the listed four, but because the majority of our clients never demand them, we have purposely chosen to exclude them i.e. student visa, work visa, etc.

The four listed visas below allow its successful applicants, and dependants, to remain in Spain for more than 90 consecutive days within a calendar year; moreover, you may stay all year round if it pleases you. As an additional advantage, it gives its visa holders unfettered access to the Schengen Area (26 European countries). Basically, you will be treated on equal footing to a Spanish national on entering & exiting the country without all the pesky border & customs hassle that aggravates us so.

Regarding taxation, none of them automatically make you tax resident in Spain on attainment. However, if you spend over 183 days/year in Spain you will be deemed tax resident. On applying for a visa renewal, you will have to provide proof you are living in Spain long term, which may trigger tax residency.

All the below-listed visas have in common the following requirements:

Non-EU national.
Hire private health insurance.
Clean criminal record (previous 5 years)
Be self-supporting (you will not claim benefits)
Not be already in Spain illegally at the time of making the application.
1. Investor visa – Golden Visa
The investor visa is thought for affluent applicants. It is popularly known as a ‘Golden Visa’. It’s a blue-ribbon visa that basically rolls out the red rug for its privileged holders that neatly cuts through all the red tape. Its purpose is to foster foreign investments in Spain. Whilst there are many different ways to attain a GV, the most popular (and least expensive) is by investing in Spanish real estate. This requires investing €500,000 in property. We should point out that it applies retrospectively; meaning that any UK national (or any other non-EU) that bought a property in Spain for over 500k on or after the 28th of September 2013 may qualify. Unlike the other three visas listed below, renewals are not subject to proving you live in Spain all year round. They are based on keeping the investment. This ability to override the 90/180-day rule and not being ‘forced’ to live in Spain make it one-of-a-kind and explains why it is so coveted.

Suitable for:

Affluent property buyers
Investors, developers
High-flyers

Further reading:

Investor Guide to Spain’s Golden Visa Law – 8th November 2013
Spanish Golden Visa for British investors after Brexit
Spanish Golden Visa for British, it’s retroactive!

2. Marriage visa – EU Family regroupment
It’s intended for families or couples that have been separated, in and out of the EU. It seeks to reunite them in an expedited manner within the EU. So, although this type of visa is popularly dubbed as ‘marriage visa,’ it would be rather more appropriate to refer to it as ‘family visa’, as its scope goes well beyond a married couple. It ought to be understood in broader terms, as in family reunion. As its own name implies, couples must be married (including same-sex partners).

Suitable for:

Separated family members that wish to reunite within the EU
Married couples

Further reading: EU-family regrouping (marriage visa)

3. Business visa – Lucrative Visa
As its own name implies, this permit allows the applicant to work in Spain as you will be self-employed. This residency applies to someone who is looking to set up his own business in Spain. Typically, you will be acting as director or company administrator. Needless to say, one of the key requirements is that you will have enough means to be self-supporting both for yourself and your family for one year. The catch, besides a cast-iron motivation, is that you need in the ballpark of €80,000 to €100,000 in savings to open & run a business.

Suitable for:

Applicants (families) wishing to set up and run a business in Spain
Self-employed
Entrepreneurs

Further reading: Lucrative residency permit (business visa)

4. Pensioner visa – Non-lucrative visa
As its own name implies, this visa allows the applicant to live, but not to work, in Spain. The applicant will be expected to be self-supporting and will be required to prove he or she has enough savings for at least two years. This visa is ideal for retirees who wish to spend extended periods of time in Spain – without working – enjoying the finer things in life. However, it should be noted that other applicants, who are not of pensioner age, are also welcome to apply. This visa is also a good option for those who want to test the waters and are considering living in Spain long term. The catch is that you need to prove you have an income of at least €27,000/year.

Suitable for:

Pensioners
Would-be buyers, long-term tenants
Bon vivants

Further reading: The Spanish Non-Lucrative Visa Explained

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How much money do Britons need for Spain’s non-lucrative visa in 2021?

A non-lucrative visa is one of the ways UK nationals wanting to move to Spain – or those hoping to spend extended periods of time in the country post-Brexit – can do so if they have enough financial means.
Since Brexit came into force on January 1 2021, UK nationals wanting to move to Spain or spend part of the year here have a much harder task ahead than they used to.
It will generally be harder to land a job or set oneself up as self-employed in Spain as a non-EU national, and the financial requirements for residency are more demanding than for Britons who were already registered as residents – or who can prove they were living in Spain before the start of 2021 and are now registering.
EXPLAINED: How Britons can live and work in Spain after Brexit
The other main pitfall for Britons in Spain is that without residency or a visa, they can only spend 90 out of 180 days in Spain (and the Schengen Zone).
However, showing you have the financial means to care for yourself and your family is one of the best ways to solve this.
This article is therefore geared to UK citizens who have either not landed a job in Spain yet, are not planning to work, study, do business or invest in the country and are not intending to obtain residency through having Spanish family roots or an EU partner.
The main focus will be the non-lucrative residency permit and any other option available to UK nationals for obtaining residency through financial means.
What is Spain’s non-lucrative residency permit?
A non-lucrative visa is an authorisation that allows non-EU foreigners to stay in Spain for a period of more than 90 days without working or carrying out professional activities, by demonstrating that they have sufficient financial means for themselves and, if applicable, their family.
In Spanish it’s called a “visado de residencia no lucrativa” and it’s often referred to as a retirement visa, as this is the best option for retirees from non-EU countries who want to move to Spain.
It is however available to third country nationals of all ages who can prove they have the financial means, and is also a good option for UK nationals who want to first travel and get to know Spain better for a year before starting work, as it allows for an easy conversion to a work permit.
Spain’s non-lucrative residency permit is a temporary residence visa which lasts for one year.
The first and second residency renewals last for two years each, after which five years of residency will have been obtained and therefore the possibility of applying for long-term residency, which lasts for five years.
After ten years of residence in Spain, British citizens can obtain Spanish citizenship, although they will technically have to renounce their British nationality in the process.
How much money do Britons need to show to get Spain’s non-lucrative visa?
This is a trickier question than it may seem as there are often discrepancies in what constitutes “sufficient financial means” between Spain’s regions, provinces and even the Spanish consulates and embassies from which foreigners apply for the visa (you apply from the UK, not from Spain).
Spain’s Royal Decree states that sufficient financial means “will not exceed the level of resources by which social subsidies are granted to Spaniards or the amount of the minimum Social Security pension”.
The Spanish government is referring to the IPREM, an indicator that in 2021 stands at €564.90 (£488.34 with the current exchange rate) per month, just under €30 more than in 2020.
The standard financial requirement for non-lucrative visa applicants is 400 percent of the IPREM: €2,259 (£1,952) per month.
So for a UK national wanting to apply for the non-lucrative residency permit for Spain for the first time (it lasts one year), the amount they need to prove is €27,115 (£23,436).
For every family member included in the residency application it’s an extra 100 percent of the IPREM you need to prove you have: €6,778 (£5,859) for the year.
So if a British couple is applying, it’s €33,894 (£29,300) annually in savings or a monthly income through investments, pensions or other assets of €2,824 (£2,441) a month.
For a UK family of three it’s €40,672 (£35,156); for a family of four it’s €47,450 (£41,015) and so on, adding €6,778 (£5,859) for each family member.
If you’re renewing your non-lucrative visa for the first and second time, bear in mind that you will have to prove you have 800 percent of the IPREM as the renewed residence permit is valid for two years.
For an individual that is €54,230 (£46,869) that they can prove they’ll have available.

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Valuable information website for older and vulnerable British people living in Spain

Valuable information website for older and vulnerable British people living in Spain expands into the Costa Blanca and Murcia

 The Support in Spain website (www.supportinspain.info), run in collaboration with the British Embassy, aims to help with the welfare challenges of the foreign-resident population and is being launched over the next two weeks at a series of virtual events for voluntary groups and social workers in and around the Costa Blanca and Murcia.

The site contains useful information on how to get extra support and help on a wide range of topics, such as healthcare, disability services and benefits, as well as providing a directory of local support organisations.

The service was designed in collaboration with the University of Birmingham and the British Embassy Madrid, and has had over 90,000 visitors since it first launched.

British Consul Sarah-Jane Morris said: “There is some incredible work carried out by so many volunteers across the Costa Blanca and Murcia to support foreign residents who are in need. This website will be a valuable tool to support voluntary groups in their work and for residents as well.

“It is always useful to plan ahead for the future. Many of us see our or our friends’ personal circumstances change and this website is a really good way to check up on the help that’s available.”

The virtual launch events are taking place on Tuesday 23 March with partners in Costa Blanca North, Monday 29 March in Costa Blanca South and Tuesday 30 March in Murcia. The events will be hosted by the British Consulate in Alicante and Neil Hesketh of the Support in Spain project.

Neil Hesketh said: “The site is in Spanish, as well as English, so that social workers, medical staff and Spanish-speaking friends can, for the first time, access information on English-speaking support available.”

Website address: www.supportinspain.info

More information: info@supportinspain.info

 

Support in Spain project background

The Support in Spain website is the result of a close cooperation between the British Embassy and the School of Social Policy at the University of Birmingham.

The original project set out to research the issues older and vulnerable British people face while living in Spain and to suggest possible solutions to help prevent them becoming socially isolated in the future.

One of the conclusions of the study was the need to develop a website that included all the contact information of the different voluntary groups and Spanish statutory authorities available locally, as well as helpful advice on common questions, such as how to secure extra social care, help for a disability or assistance with paperwork in Spanish.

The project was funded by the UK’s Economic and Social Research Council and the Foreign, Commonwealth & Development Office.

The content of the website currently covers the Costa del Sol, Almeria, the Canaries, the Balearics, coastal towns and cities in Catalonia, and now the Costa Blanca and Murcia. It is published in Spanish as well as English and has had over 90,000 visitors since it was launched.

 Press contact:

Debbi Christophers – British Embassy Press Department. Tel number:  673 596 770

Follow us online: www.gov.uk/fcdo

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NEW RULES for Tourist Lets

New decree regulating tourist accomodation in the Valencia region has been approved.

It brings together all the decrees for each specific type of accomodation in a single text, explained the regional government.

One of the most significant espects is that it makes it illegal to offer tourist lets of single rooms in homes.

The decree’s purpose is to regulate the activities and services, forms, classifications and working practices of establishments according to Law 15/2018 on tourism, leisure and hospitality.

Another aim was to adapt the legislation to new social, professional, technological and regulatory contexts. It alos establishes rules for applicable prices and introduces the need to have civil liability insurance. Tourist lodgings are required to follow the principles of the Global Code of Ethics for Tourism (GCET) and the adaption of this to the Valencian code of ethics for tourism.

Regarding online advertising, more information will have to be provided, and the role of tourist accomodation management companies to act as madiators has been reinforced, requiring them to keep the name of the owner up to date in the regestry. All advertising will be required to include the property’s registration number, which will be particularly closely monitored online, and the oweners of channels for publicity or marketing will be held jointly responsible. The decree also establishes that in rural houses with shared accomodation, the users must have access to all the common areas.

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Happy NY 2021

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COVID 19 Tests UK-SPAIN – Passengers ( Somebody has got a plan ! )

The situation today:

( 1 )

International Travellers …>  to England will be able to reduce their quarantine period by at least a week if they pay for a Covid test after five days.

The rules will come into force from December, 15th, according to UK Transport secretary, Grant Shapps.

The tests from private firms will cost between pnds 65 and pnds 120, according todays info by BBC.

Mr Shapps said, the rules will be brought in for passengers arriving into England from countries not featured on the UK government’s travel corridor list.

He noted that they will have the option to take a test after five days of self-isolation, with a negative result releasing them from the need to isolate.

“The move will give passengers the confidence to book international trips in the knowledge that they can return home and isolate for a shorter period if they have received a negative test”, notes a department press release.

It states that those opting in to the scheme have to book a pay for a coronavirus, COVID-19 test from a private provider on the GOV.UK.list.

Mr Shapps said: “We have a plan in place to ensure that our route iut of this pandemic is careful and balanced, allowing us to focus on what we can now do to bolster international travel while keeping the public safe.

“Our new testing strategy will allow us to travel more freely, see loved ones and drive international business.

“By giving people the choice to test on day five, we are also supporting the travel industry as it continues to rebuild out of the pandemic”.

The department press release states that the UK government has considered the evidence which demonstrates that a test after five days of self-isolation provides materially better results that just having a test on arrival, as it allows time for the virus, should it be present, to incubate, helping reduce the risk of a false negative result.

Health secretary Matt Hancock said: “This test on day five of the 14 day self isolation period will identify positive coronavirus cases and allow those who test negative to return to work and see their loved ones while abiding by domestic coronavirus restrictions.

This will be done at the cost of the traveller to protect the capacity of NHS Test and Trace and ensure that any UK resident who has symptoms is able to get a test.”

He added: ” If they choose to book a test, they will need to state this on their passenger locator form prior to arriving and then go straight into self-isolation at home as usual.

“If they choose to opt in after arrival, they will need to resubmit their passenger locator form.

“They can take a test on or after day five of the isolation period either at home or at a private provider’s testing site, and on receipt of a negative result, can immediately finish self-isolating and return to following domestic rules.

“Those choosing not to take a test when arriving from a non-exempt country must continue to follow the current self-isolation requirements ( 2 weeks ! )”

The travel industry welcomed the policy but described it as “long overdue”

( 2 )

Spain is now asking passengers entering the country via airports and ports from so-called “risk countries) for a negative  PCR Covid-19 test.

The test has to be carried out up to 72 hours before they arrive in Spain.

The list includes almost all countries in Europe including the United Kingdom.

They can either present the test in paper from – in English or Spanish – or uploaded via the webpage:  www.spth.gob.es  or the government’s travel app SPAIN TRAVEL HEALTH-SpTH. If the traveller does not have a negative PCR test they could face a fine and will have to undergo a test in the airport or port. If the test is positive they they will be “denied access to Spain”.

EFE noted that all passengers eill still have temperature test in airports, which may extend to a “visual check” or evaluation of their state of health. If they show symptoms of Covid-19 they they will have to take a “rapid test” to check and they are virus free.

Spain will update their list of “risk” countries every two weeks.

The government noted that the results will be published on their websites:

www.mscbs.gob.es…………… and
www.spth.gob.es

All the criteria for entry into Spain is outlined in the official state bulletin (BOE) which can be consulted at:

www.boe.es/diario_boe/txt.php?id=BOE-A-2020-14049

At no point does the BOE refer to travellers who cross the border onto Spain by road

 

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About Us

Villas Valencia offers properties in Valencia at Spanish prices. What`s more, we don`t charge the buyer (as most other agencies do). We are an English locally run estate agent company dealing with properties in a picturesque area around the city of Valencia.

Testimonials

You are the only agent we dealt with your knowledge of the area and the buying process left us at ease that everything would be taken care of. - Mr & Mrs P, in Naquera

Your advice was clear and brilliant. You completely understood our requirements and objectives, facilitating our new purchase. Thank You! - Mr L, Now living in Lliria

You offered a great service from start to finish, clearly explaining all our options and helping speed everything through. You translated everything we needed quickly.

- Mr T, Second home in Montroy

Villas Valencia was fantastic and exceeded my expectations. I will and have recommended you to others. Thank you for all your referrals for building work. We love our new pool! - Sean, house in Rocafort

Thank you for all the help buying our property in Valencia. With so much to think about, you explained everything well and made it all very easy. Cant wait to move out there fully and enjoy a G & T on our balcony with you.

- Ben, house in Naquera

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