1. How do I schedule a viewing?
You can call us on our telephone number or send us a message using our contact form. Please be aware, when planning a trip, that show houses and apartments are only open during the week.
2. How does the Golden Visa work?
The Golden Visa allows a qualifying person to live in Spain. Their spouse and children also qualify. There are various ways to qualify, but investing more than 500,000€ in real estate in Spain is one way to qualify. The investment can be in one property or across multiple properties, and must represent the amount that you invest without a mortgage or lien.
So buying a property of 750,000€ with a mortgage lien of 200,000€ qualifies, but with a mortgage of 300,000€ it would not.
The visa is valid for 2 years. This can then be extended by 5 years, and then by another 5 years. Once you have lived in Spain for 10 years, you and your family qualify for Spanish citizenship and permanent residence.
There are other important requirements to qualify, like having private health care insurance. A professional immigration advisor will be able to give you full details.
3. What is Las Colinas Gold & Country Club?
Las Colinas Golf & Country Club is one of the newest private golf courses in southern part of the Costa Blanca. Properties are being offered for sale around the golf course. The properties are being built by a small number of vetted constructors who have a good reputation for their quality and keeping to completion dates. The properties benefit from the beautiful landscaped areas, the high level of security (it is a gated community) and the facilities within the complex.
Being a new golf course, it benefits from all the properties being of a modern high quality design and construction, and with well designed wide access roads.
4. What are the taxes when buying a property?
New properties are liable for Value Added Tax (VAT), known as IVA in Spain. This is currently 10%. Then there is the stamp duty no the registration of a new property at the land registry. This is about 1.5%. There is also the Notary fees which are on a sliding scale but are likely to be between 500€ and 1,000€.
Resale (second hand) properties are liable for property transfer tax (IPF) (which is currently 10% in this area). Notary fees are also payable.
The tax payable on buying a new or used property in this area are very similar, the different type of tax being more of a technicality.
5. What are "resale" properties?
Resale properties are properties that have already had a first registered owner, and so, technically, they are being resold as second hand. Normally this means that someone has previously lived in the property, although this is not always the case. (The previous purchase might have only been for an investment and the property never actually used.)
Resale properties are normally available for a quick completion.
On the other hand, new properties are often bought off-plan with a completion date well into the future.
6. How long does it take?
For a resale property property, or a new property which is “key-ready”, the completion can be as quick as a month if there is no need for a mortgage. If a mortgage is required, then completion will normally be 2 or 3 months, as additional paperwork and a valuation are required. New properties that are “off-plan” will need to be completed first. The constructors working in Las Colinas have very good reputations and plenty of experience in building there: so their completion dates are normally very accurate.
7. What is the payment structure for a new property?
The payment structure can vary between the different constructor who build within Las Colinas, and upon the individual requirements of the buyer. Typically, however, payment structure is as follows:
- 10,000€ on (or immediately after) the signing of the purchase agreement.
- Then, within a week or two, 30%.
- Then another 30% when construction on your property starts.
- The balance is then paid on completion and the title going to the buyer.
If there is a need for a mortgage, then the constructor can alter the payment structure to comply with the bank, who will make their payment contribution at the completion.