Victor Horcasitas from the leading online magazine in Spain/Barcelona “Metropolitan” interviews our real estate expert Raf Jacobs for tips for Americans buying property in Spain.
If you’re an American that’s been toying with the idea of buying a property in Spain, you’re not alone. The number of international buyers in Spain nearly doubled in the first quarter of 2022—and it’s easy to see why, Spain is such a beautiful country with so much to offer.
There are many reasons expats are buying property in Spain: some want to move here, some are looking for a second home and some think of it as an investment opportunity. One motivating factor for many Americans is the increased purchasing power of the US dollar. The US dollar to Euro exchange rate has changed tremendously over past 18 months; today a property is 20% cheaper than it was in January of last year. This is a huge difference, making a real estate purchase in Spain even more attractive. But, how do you know which are the “good” properties? How can you make sure you don’t overpay? Which agencies are trustworthy?
If you’re serious about buying property in Spain you’ve probably scoured the internet and Facebook groups trying to learn the ins and outs of the purchasing process. And, you’ve probably begun to see that it’s very different from how things are done in the States. For one, many American expats are often surprised that the role of the real estate agency here differs greatly from that of their home country. Agencies here are not forthcoming to buyers during the purchase process because they represent the seller’s interests. The truth is, the property market in Spain is a jungle; it’s poorly regulated and lacks transparency. Having a buyer’s agent on your side who knows the industry will not only help you avoid headaches and time delays, but can also save you money.
If you want to be well-versed, save money, avoid disturbances and conflicts of interest, this is what you can do:
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