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Buying property in Barcelona
Before embarking on the purchase of a property in BARCELONA, it is necessary to define the objective of your investment (principal residence, secondary residence, rental investment), the location and of course the budget.
The choice of location will depend on the objective sought.
L’EIXAMPLE, SARRIA-SANT GERVASI, PEDRALBES are areas favored by the French for a main residence. GRACIA has the charm of a village in the city center. SANTS, POBLE-SEC and POBLENOU are rapidly evolving neighborhoods. EL BORN (LA RIBEIRA) and EL GOTIC although touristy should not be excluded (provided you choose the street well) because they offer good rental profitability. LA BARCELONETA combines the seaside and a price per m² among the most profitable to rent, but most apartments have a small surface area. As for RAVAL, although central and recommended by certain agencies to foreign investors, it is in our opinion to be advised against because of its insecurity.
In terms of budget, according to Gesvalt's report, in the 4th quarter of 2019, the average price per m² for purchasing in the city of BARCELONA varied between € 3,107 in the SANTS district and € 5,040 in the SARRIA-SANT GERVASI district. The displayed price is often significantly higher than the market price and a downward negotiation is strongly recommended but requires a good knowledge of the local market.
To remember: Property surface is indicated as the built surface in Spain, not as the habitable surface like it is the case in France. The commission for real estate agencies is around 5% plus IVA, or 6.05 including tax. For acquisition costs in Catalonia, 10% must be provided for ITP (Impuesto de Transmisiones Patrimoniales) to which IAJD (Impuesto sobre Actos Juridicos Documentados), notary fees of around 0, 1%, property assessment costs (Tasacion) and property registration fees must be added, for a total of around 13%.
Please note: The notary in Spain does not carry out prior administrative, legal and town planning checks. She/he writes the deed and proceeds to subsequent formalities. It is therefore necessary to carry out the preliminary procedures yourself or to entrust them to a lawyer.
Before buying your property, check in particular that it has a "Cedula de habitabilidad". Otherwise, you will not be able to rent it.
Before making your investment, it will be essential to obtain a NIE (Foreign Identification Number) for individuals and a NIF (Tax Identification Number) for companies.
