Buying property in Spain! Got all necessary information?

Did you know that Spain is the largest country in Europe after France but with just over 40,400,000 people, it is one the least densely populated!

Did you know that over 1.2 million foreigners have chosen to settle and buy properties in Spain, which attracts more than 52 million visitors each year!

Did you know that 640,000 new homes were built in 2004, a higher number than Germany, France and Italy combined. Predictions show that another 2 million homes will have to be built over the next 6 years to meet the demand for Spanish property! 

It is not simply Flamenco or Bull Fighting or the San Fermin Festival or lots and lots of bright sunshine that is attracting more and more tourists and tempting people to settle in Spain from around the world.

Even if we ignore that Spain, for last thousand years or so, is the cultural center of the Europe, she has much more to offer to the world’s citizens, many of whom are looking for Spanish villas for sale.

The local Spanish developers had something different in their mind, the majority of the apartments or properties are bought for the good financial returns a buoyant market returns.

There are around 2,750,0000 empty flats around the country and most of them are not even for rent. Owing to this problem, a good number of Spaniards are not finding homes to live in though construction is one of largest employment sector there.

Never the less, the situation is changing. The government is trying to fix this problem by clamping down on planning permissions, although these measures for reform only started recently this will serve to build a financially secured Spain in future.

Currently those who invested in the past have largely disappeared and the houses and flats are now being owned by overseas clients and Spaniards who are buying them as relocation properties or holiday homes.

In any case the situation for foreign buyers is as lucrative as it is precarious. The Spanish property business, like any other business in any corner of the world, has attracted a number of middlemen, who, unfortunately, are as always eager make a fast ‘buck’ with prospective buyers. Experience has shown that when a person is trying to buy some property from a broker he or she runs the risk of overpaying and even fake buying. It is not always possible for an outsider to know the full history of these agents and we should not forget the old saying ‘seeing is believing’.

The Spanish property market changes frequently, before buying property in Spain a cautious buyer should primarily try to gather all relevant information regarding the property and the-then market scenario. A good place for research is always the internet where there are plenty of good helpful sites on buying property in Spain.

Buying Property in Spain - Glossary

Buying Property in Spain

Although any expatriate intending to buy property in Spain would be advised to use the professional services of an estate agent and a translator and must legalise the transaction before a Public Notary, the following glossary of terms commonly used either to describe properties in Spain or during the transaction  process is a useful aid for non-Spanish speakers.


Abogado - Lawyer<br>
Actos Juridicos Documentados (AJD) - Stamp duty<br>
Adosado - Semi-detached house <br>
Agencia Inmobiliaria - Estate Agent<br>
Agencia Tributaria - Tax office<br>
A.P.I. (Agente de la Propiedad Inmobiliaria) - Officially licensed estate agent<br>
Aire acondicionado - Air conditioning <br>
Aparcamiento - Parking <br>
Apartamento - Apartment <br>
Arras - Small payment given to the seller to guarantee that the property transaction will be completed within an agreed time limit.<br>
Asesor Fiscal - Financial Advisor<br>
Aval - Loan underwriter<br>
Ayuntamiento - Town hall<br>
Balcón - Balcony <br>
Baño - Bath/WC <br>
Caja de Ahorros - Savings bank <br>
Calefacción central - Central heating <br>
Campo - Countryside <br>
Casita - Cottage <br>
Chalet - Villa <br>
Cocina - Kitchen <br>
Comedor - Dining room <br>
Compra - Buying<br>
Compra-Venta - Promise to Purchase <br>
Contract Comunidad de propietarios - Comunity of property owners <br>
Constructor - Builder <br>
Copia Simple - Copy of the Mortgage Deeds<br>
Cuarto de Baño - Bathroom <br>
Cuotas de comunidad - Community fees<br><br>
Cuenta de Banco - Bank account<br>
Documento privado - Private document<br>
Documento público - Public document<br>
Dormitorio - Bedroom <br>
Ducha - Shower <br>
Duplex    - Apartment over two floors <br>
Edificio - Building <br>
Escritura - Deeds of ownership <br>
Finca - Farm house or small estate <br>
Garaje - Garage <br>
Habitación - Room <br>
Hacienda - Tax office<br>
Hipoteca - Mortgage I.B.I Rates <br>
Inmobiliaria/agente - Estate agent
IVA - VAT <br>
Jardín - Garden <br>
Ladrillo - Brick <br>
Libre de cargas - Debt free <br>
Licencia de obra - Building permission<br>
Licencia de Ocupación - License to occupy a property<br>
Metros cuadrados - Square metres <br>
N.I.E. - Identity Number for Foreigners <br>
Notario - Notary Records legal documents and transactions<br>
Nota Simple - Certificate from Land Registry <br>
Obra nueva - Document certifying a new building <br>
Oferta vinculante - Bank document specifying mortgage conditions <br>
Pago en efectivo - Cash payment <br>
Parcela - Lot or plot <br>
Piscina - Swimming pool <br>
Piso - Apartment <br>
Plan Parcial - Town hall plan for building plots<br>
Playa - Beach <br>
Plusvalía - Municipal Capital gains tax on sale of property <br>
Poder - Power of Attorney <br>
Préstamo - Loan <br>
Pueblo - Town or village <br>
Registro de la Propiedad - Land Registry <br>
Representante fiscal - Foreigner's official tax representative <br>
Residencia - Residency permit <br>
Residente - Resident <br>
Sala, salon - Lounge <br>
Se vende - For sale <br>
Se alquila - For Rent <br>
Solar - Lot for building <br>
Solana - Utility Room <br>
Sótano - Basement <br>
Tarjeta de Banco - Bank card <br>
Techo - Roof <br>
Teja - Roof tile <br>
Terraza - Terrace<br>
Terreno - Land plot <br>
Tipo de interés - Interest rate <br>
Título de propiedad - Property ownership deeds<br>
Trastero - Storeroom <br>
Venta - Selling <br>
Vista de mar - Sea view<br>