Buy a house in Spain

I've travelled to Spain before, I was surprised not only by its beautiful scenery but also by its booming real estate. So from then on, I've made up my mind to buy a property in Spain. It is said that Spain's property is very flourishing, nowadays, more and more foreigners have come to Spain for investing in real estate, such as buy property in spain and spanish property are cited examples, they are very suitable for living and investing. Moreover, we don't have to worry about money, because we can easily get loans from banks. Whether we buy or invest in property or not, we can earn much more money the next year. I will purchase a house which is near beaches and convenient in transportation. Does anyone have some information about that? I'd like to hear your suggestions. Thanks.

Buy a bridge in Brooklyn.

Buy THE tower in London

Buy the Dior jeans I am selling!

Buy a dirt racetrack in Indianapolis

Forget real estate, buy shoes.....the prices are increasing at a much higher rate.

Only spanish property I own is my wife and the mortgage/maintenance never ends on that one.

Buy a Carlo Franco tie

Do you have a Nigerian bank account I can wire my money to?

Property laws in Spain are of a socialist nature. The state can take away your home if it plans to biuld a highway there.

Originally Posted by dkzzzz

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Property laws in Spain are of a socialist nature. The state can take away your home if it plans to biuld a highway there.

Um, I hate to tell you, but someone in the good ole' US of A gets a letter to this effect everday. It's called Eminent Domain.

Originally Posted by RJman

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Buy a bridge in Brooklyn.

lol.

I'm selling this nice metallic tower structure in Paris, the view is breathtaking, anyone interested? I have a sale going on presently and you get this nice statue that personify liberty for free, it's located in NYC.

Buy beachfront property in Nevada. You might have to wait a couple hundred years, but your descendants will thank you.

Originally Posted by dkzzzz

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Property laws in Spain are of a socialist nature. The state can take away your home if it plans to biuld a highway there.

Yes, eminent domain exists in Spain, as in any developed country.

In fact, Spain´s primary mortgage legislation, embodied in what is commonly known as the Ley Hipotecaria, dates back several decades, when communist and socialist parties were both illegal.

In reality, property ownership is quite secure in Spain, provided one uses a civil law notary. Protection is such that the market does not require additional insurance; lenders don´t require title insurance.

Another matter is timing: This is a bad time to buy real estate in Spain. There were approx. 900,000 new housing starts last year, while sustainable demand is probably around 650,000 p.a. It will probably take a few years before excess home inventory is absobed, especially in coastal areas.