FAQs (Frecuently Asked Questions)
What services does Iberest Real Estate offer?
Iberest Real Estate specializes in providing tailored real estate services to international clients. We assist with property searches, legal advice, negotiation, and the purchase process. Additionally, we offer property management services for those who wish to rent or maintain their properties in Spain or Portugal.
What types of properties do you have available?
We offer a wide range of properties, including apartments, houses, luxury villas, and investment properties, primarily in coastal areas of Spain and Portugal. Our portfolio is regularly updated to meet the diverse needs of our clients.
Can I buy a property in Spain if I am a foreigner?
Yes, foreigners can buy property in Spain without restrictions. The process involves obtaining a Foreigner Identification Number (NIE) and opening a Spanish bank account to handle transactions.
How does the purchasing process work with Iberest Real Estate?
The process includes the following steps:
- Initial consultation to understand your needs.
- Property search and selection.
- Property visits (virtual or in person).
- Legal and financial advice.
- Drafting and signing the sales agreement.
- Final registration of the property in your name.
Can I contact you in Estonian or English?
Absolutely! Our team is fluent in Estonian, English, and Spanish to ensure seamless communication with our international clients.
What national and local taxes are involved in purchasing a property as a foreigner in Spain and Portugal? Where are taxes lower?
In Spain:
- Property Transfer Tax (ITP): 6-10% of the purchase price.
- Notary and registry fees: Approximately 1-2% of the price.
- Stamp Duty: Around 0.5-1.5%. In Portugal:
- Property Transfer Tax (IMT): 1-8%.
- Stamp Duty: 0.8% of the purchase price.
- Taxes tend to be slightly lower in Portugal compared to Spain, but this depends on the region and type of property.
Do local taxes vary by county or region?
Yes, in both Spain and Portugal, local taxes such as property transfer tax rates and municipal property taxes (IBI in Spain and IMI in Portugal) vary by region or municipality.
Is it mandatory for real estate properties to be registered in the State Register?
Yes, registering the property in the State Register is mandatory in both countries to ensure legal ownership and protect your rights as the owner.
Who verifies the sales contract? Is it possible to authenticate it remotely over the network?
In Spain, the sales contract is verified by a notary, who ensures all legal aspects are correct. In Portugal, a similar role is played by solicitors. Remote authentication is possible in certain cases through electronic notarization, but this depends on local laws and the specific notary or solicitor.
When does the property transfer take place?
The property is officially transferred once the final deed is signed before a notary, and the property is registered in the buyer’s name at the State Register
Is land ownership sold to foreigners in Spain and Portugal?
Yes, foreigners can purchase land and properties freely in both Spain and Portugal, with no significant restrictions.
What costs does a property owner have (electricity, gas, garbage collection, etc.)? Are there any additional special costs?
Common costs include:
- Utilities: Electricity, water, gas (if applicable), and internet.
- Community fees: For shared facilities like pools or elevators.
- Municipal taxes: Annual property tax (IBI in Spain, IMI in Portugal).
- Special costs: These may include insurance, maintenance, or unexpected repairs.
Do apartment associations operate in apartment buildings in Spain and Portugal?
Yes, most apartment buildings have associations that manage shared spaces and ensure the upkeep of the property. These associations collect community fees from all residents.
How much does it cost to obtain a construction permit, and how long does it take?
The cost of a construction permit varies based on the municipality and the size of the project. In Spain, it can range from 3-5% of the total construction cost. The process usually takes 2-6 months, depending on local bureaucracy.
What legal measures exist to protect a property from squatting? How is this issue regulated legally?
Squatting (or okupas) can occur in Spain. However, recent legal reforms have made it easier for property owners to regain possession. Immediate reporting to authorities and legal representation are key to resolving these cases quickly.
Is there a high level of corruption in local government?
In general, Spain and Portugal have robust legal frameworks, but regional differences exist. Both countries have made significant progress in transparency and combating corruption, especially in the real estate sector.