I am sure many readers will have come across situations in Spain where the surface area of a
property registered at the Land Registry does not correspond with the reality. Up until fairly recently it was common practice, particularly in rural areas, to reduce the surface area of the property in the deed, when transferring the property, in order to pay less tax on the transfer. This has resulted in a large amount of properties, extended across the country, which are incorrectly registered in the Land Registry.
This detail is something that must be seriously considered when buying property in Spain.
As every foreigner living in Spain is more than aware, Spain has been receiving a lot of media attention for its large amount of illegally constructed properties extended all over the country, and the attempts being made by local and regional governments to facilitate the legalisation of said constructions.
This post applies to properties built on both urban and rustic land in the region of Andalucía, as the details can vary from one autonomous region to another.
As we all know, the current economic situation in Europe, and the special vulnerability of the Spanish economic and housing market, make Spain a country with appealing potential for foreign investors wishing to acquire real estate here.
Climate, way of living, beaches, but above all affordable prices for those originating from abroad, encourage other European citizens to makes plans for their future here. At a time when accessing credit has become extremely complicated for Spanish nationals, the difficulties for foreigners in buying property in Spain are far fewer.