HOUSE prices in the UK are nearly double the price of Spain. And it’s not dissimilar in Norway or Holland.
But despite eye-watering prices, it’s hard to argue that the Essex Riviera or rainy Bergen beats views over the crystal blue Med.
Prices in Spain are up 2.1% on last year – but foreign buyers in hotspots like Javea have pushed prices up 9% on last year.
Foreign homeowners have created a thriving expat community, and this means you’ll need a bigger deposit to get close to the action.
In Spain, mortgage providers require at least 20% (and up to 40%) of the house price paid up front – and this rises to at least 30% for non-residents.
So why not rent to buy?
Five benefits of rent to buy
Mike Tullett of Sunset Estate Agency in Javea says his Rent to Buy service has been getting more attention and interest than standard house sales and rentals. And here is why:
You can move into a rent to buy home with a 3% deposit of the price (maximum 10%)
The rent paid is deducted from the property price, and these payments often get you over the 20% threshold to directly access a mortgage
Rent to buy contracts go from 12 to 36 months, and at any moment you can buy it at a pre-agreed price regardless of market fluctuations
If you have a property to sell elsewhere or if you have inheritance coming in, you can buy now and benefit from the Spanish lifestyle immediately rather than waiting
For non-Eurozone buyers, you can wait until exchange rates are in your favour before purchasing the property
How to find a rent to buy property in Spain
The team at Sunset Rent to Buy Spain are dedicated to such options.
Based in Javea since 2018, Mike and his team have partnerships with notaries, mortgage brokers and currency exchange teams o help you make the biggest savings.
Visit www.renttobuyspain.com for listings, case studies and testimonials or call +34 865 681 845