Property for Sale in Galicia, Spain: A Detailed Guide for Foreigners

This northwestern region offers a unique combination of the following factors that attracts foreign property buyers: 

• Stunning Landscapes
• Cultural Heritage
• Affordability 

Despite the highs and lows in Spain’s real estate market, Galicia remains a hidden gem with untapped potential. While property prices in this region are normally lower than in popular areas like Madrid or Barcelona, real estate in Galicia has shown consistent long-term appreciation in value, appealing both to investors and lifestyle buyers.

This guide will take you through the advantages of investing in property in Galicia, the intricacies of navigating the local real estate market, and what to know about property taxes.

Why Buy a Property in Galicia?

See why Galicia’s property market has gained more popularity with foreigners

Breathtaking Natural Beauty

Galicia is known for its greenery, its seashore, and rural villages. Serenity in this town makes it suitable for any person who wants to lead a quiet life.

Affordability 

Compared with other parts of Spain and all over Europe, Galicia is not pricey at all. From daily food shopping to property prices, your pound will stretch quite far here in Galicia.

Thriving Rental Market

Galicia is a haven for tourists who visit for the Camino de Santiago, old history, and coastal towns. This guarantee of steady rental income may be obtained by purchasing property in very strategic areas, including but not limited to Santiago de Compostela, A Coruña, and Vigo.

Cultural Capital

This land boasts a range of distinct living quirks that distinguishes it from the rest of Spain, including: 

• Celtic Heritage
• Local Cuisines
• Traditional Songs

Long-Term Investment

Although there are periodic fluctuations in the property markets, the long-term appreciation of real estate in Galicia has been consistent. Property values are bound to rise as the area gains more international attention.

Good Connectivity

Despite its peaceful atmosphere, Galicia is well connected. Galicia has major airports in Santiago de Compostela and Vigo, offering direct connections to every European capital, thus making accessibility easy for international buyers.

Can Foreigners Buy a Property in Galicia?

Foreigners, including Brits, can buy properties here with no restrictions whatsoever. The Spanish Government is encouraging this and is keen on foreign investment. The Golden Visa program makes Spain more attractive to international buyers.

Buying a property in Galicia is simple and uncomplicated for British people or other countries outside the European Union. A good starting point involves:

• Searching for the Ideal Property
• Speaking to Local Real Estate Agents
• Securing a Spanish Tax Identification Number, or NIE 

Buying can be straightforward, but seeking help from a legal and financial advisor might be wise due to problems that might arise in obtaining a mortgage, deposit handling, and taxes.

Starting from holiday homes, apartment letting, to finding a permanent abode – the diversified market in Galicia meets all your expectations.

Finding a House in Galicia

Owning a house in Galicia is now easy with help from established real estate websites and local agents; among the most popular are:

• Fotocasa

• Idealista

• Kyero

Aside from online real estate websites like this, you should consider working with local property agencies specialising within this local marketplace that best serves your requirements. 

Additionally, it’s worth experiencing the property personally – this way you can determine if the property’s condition and location matches your expectations.

Upscore’s Benefits

If you’re planning to finance your property purchase, Upscore’s Finance Passport is here to simplify the mortgage application process. Our platform offers the following benefits:

• Several Lenders: Consider mortgage options from various local lenders for the best arrangement that would suit your needs.
• Remote Application: Apply for a mortgage from any corner of the world and save your precious time and energy.
• Customised Service: Utilise a personalised agent to help answer questions and lead the way through your mortgage application.
• Free to Use: We keep our services free to our buyers. We just extract a commission from the lender.

FAQs

What is the Approximate Price of the Average Property in Galicia?

The average house price is greatly determined by different locations and styles of properties: areas by the sea, like Vigo or A Coruña, can be pretty expensive, on average, at €1,500 to €2,000 per square meter. In such rural areas, this can decrease down to about €800 per square meter.

Can a Foreigner get a Mortgage in Spain?

Yes, foreigners can get a mortgage in Spain. In most cases, banks give up to 70% of the value of the property to non-residents. A platform like Upscore will make this process much easier.

Are there Other Costs when Buying Real Estate in Galicia?

Yes, there are extra costs for taxation, notary, and registry, usually 10-15% in addition to the sale price of the property.

Is It Possible to Rent Out My Property in Galicia?

Yes, you can. Galicia is a very popular destination for holidaymakers, so there is a healthy demand for rentals in coastal and areas of historic interest.

How Long Does Buying an Apartment in Galicia Take?

This usually takes 2-3 months from making an offer until the completion of the purchase, involving the securing of financing, conducting due diligence, and finalizing legal documentation.