Property for Sale in Catalonia, Spain: An Informed Guide for Foreigners

Property in Catalonia not only serves as a valuable estate asset for the house owner but also provides residence in the form of Spain’s Golden Visa, which means the possibility of long-term residency and freedom to travel across Europe.

Just as the general economy in Spain, the real estate market in Catalonia has experienced its ups and downs. But recently, with increased demand by international buyers and recognition as one of the sought-after places in Spain, this area promises great long-term appreciation.

The following guide discusses why investing in real estate in Catalonia is an excellent option and how to go about it with ease.

Why Buy Property in Catalonia?

Read below why the property market in Catalonia is so exciting for foreign buyers:

Economically Luxurious Living

Property in Catalonia is relatively cheap as compared to other major European hubs; however, the quality is unbeatable. The cost of living also comes in very cheap in comparison to countries like Italy, Germany, or the UK and is thus moderately budget-friendly for expats.

A Tourism and Rental Income Hub

Hotspots like Barcelona, Girona, and the Pyrenees make Catalonia see millions of tourists every year. This means very good demand for rentals, which could be a godsend for people chasing passive income.

Cultural and Lifestyle Fashions

From its unique culture, encompassing traditional Catalan cuisine, festivals, and art, there is no denying the unmatched lifestyle that Catalonia offers. It gives purchasers the opportunity to acquire world-class museums, historic sites, and thriving culinary scenes with pride, including Michelin-starred restaurants.

Global Connectivity

Catalonia is very well-connected; having El Prat Airport fly to most major cities in the world really puts it in an enviable position for holiday-goers and frequent flyers.

Can Brits Buy Property in Catalonia?

Yes, Brits and other foreign nationals can purchase property anywhere in Catalonia without restrictions. The Spanish government, which favours foreign investment through special programs such as the Golden Visa, ensures ease in the acquisition process for expatriates.

The great culture, food, and extremely friendly atmosphere make foreigners prefer Catalonia to other parts of Spain. Logistically, the process is quite accessible, but there are still several aspects to address:

• You can only get a mortgage without a Spanish bank account if you pay large deposits.
• Local lenders provide a considerable loan volume to foreign buyers, although non-resident financing may be more limited.
• Employing a local lawyer is essential to navigate Spanish property law, review contracts, and ensure the purchase process is smooth.

Luckily, the Catalonia property market has options ranging from modern apartments in Barcelona to villas in the countryside of Girona. For Brits looking to relocate there or to invest in the area, the process can be pretty smooth, especially when one uses well-settled local agents.

Finding a House in Catalonia

Catalonia’s property regulations make buying a home easier than ever. Many respected real estate sites advertise properties for sale, such as:

• Fotocasa

• Idealista

• Kyero

However, if you prefer a personalised service, it is highly advisable to work with a reputed British or Spanish estate agent. Agencies such as Rightmove and Lucas Fox provide special services for foreign buyers in the Catalonian real estate market.

However, it’s crucial to view any potential property in person to avoid unforeseen issues and ensure it meets your expectations.

Upscore’s Benefits

Upscore’s Finance Passport makes buying property easier:

Multiple Lenders: Compare all types of mortgages with local lenders to get the best mortgage rate for your house.

Remote Application: Apply for a mortgage application online from any corner of the world

Personalised Service: Be allocated a mortgage agent who will see you through every step of the process.

Free of Cost: Upscore’s services are absolutely free to the borrowers. Lenders pay us a fee – it does not cost anything extra to you.

FAQs

What is the Minimum Investment in Real Estate to Apply for the Golden Visa in Catalonia?

Acquiring property worth at least €500,000 entitles an individual to the Spanish Golden Visa. This applies everywhere in Spain, therefore also in Catalonia.

Do Foreign Buyers have to Pay a Property Tax in Catalonia?

Yes, foreign buyers have some taxes, such as 10% VAT when it is a new property, or a property transfer tax of 6-10% if it’s resale. Annual property taxes will be applied.

Is It Possible to Let My Property in Catalonia for Short Periods?

It is allowed, but it needs to be licensed for tourist rentals with the local authorities in order for it to be deemed compliant.

Must I have a Spanish Bank Account in Order to Buy Property?

It’s not absolutely necessary, but makes it much easier when purchasing, since most vendors require a Spanish bank account for mortgage payments and utilities.

How Much Time Does Purchasing Take in Catalonia?

The timeline varies but typically takes 2-3 months, including property selection, legal checks, and signing the purchase agreement.