‘Plan ahead’ when investing in Spain

Individuals looking to purchase property in Spain have been told to plan ahead in order to minimise risk.
This is according to Paul Collins, editor of BuyAssociation, who noted that many of the problems that crop up when buying a home abroad can be avoided with a bit of forward planning.
He explained that issues include changes to the country’s political situation, as well as legislative changes, such as stamp duty, which can add to the overall cost.
"Most of these things are signalled in advance, so with good research and careful research a lot of these things can at least be prepared for and mitigated in advance," he said.
New figures from the Bank of Spain show that real estate investment in the country climbed 2.9 per cent over the course of 2010, the Press Association reported.
The bank found that the last quarter of the year saw the highest annual improvement in foreign investment, with many industry experts attributing the increase in sales to low prices and promotions by the country’s banks.