Have re sale property prices peaked in Spains southern Costa`s? Is it turning now into a strong buyers market? I am considering purchasing a property and it would help to get some feedback form you who are out there.
Thanks
Do remember that buying and selling costs are high here in Spain. If you were to buy and sell an apartment for the same price it will cost you 20%.
Buying costs are around 15%. There is around 7% IVA, 3% in notary and legal fees, and don't forget another 5% is going to the estate agent in commision. When you sell as a non resident, you will get 5% retained in lieu of capital gains tax, which in theory you can reclaim if there is no gain, but you'd need a good lawyer.
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