Barcelona real estate Blog

Costs of purchasing real estate in Barcelona

Barcelona real estate Blog

Tuesday, 07 September 2010 08:20

When buying a property in Barcelona, or Spain in general, there are additional costs added to the purchase price, which add aproximately 10% to the total amount to pay.

Impuesto de Transmisiones Patrimoniales

This is a "transfer tax", and is seven percent of the purchase price, rising to eight percent on properties greater than 400,000€

PlusValia

This is a tax on the increase of the value of the land since the last time the property was purchased and is based on the official value of the land which is often lower than the market value. This tax is paid by the seller or the buyer, who decide amongst themselves. If the vendor does not pay this tax for any reason, after the property transaction the buyer is held liable.

Notary Fees

This is an administrative fee and is determined by the size of the land, property and its value.

Land Registry Fee

This is another administrative fee to do with regestering the new ownership details of the property, and is similar to the notary fee.

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Buying real estate in Barcelona - Empadronamiento

Barcelona real estate Blog

Monday, 06 September 2010 09:05

Buying a property in Spain as a foreigner also means lots of ancillary paperwork to the actual real estate deal, such as obtaining a NIE number, opening a bank account and so on. Here we deal with registering with the town hall, or becoming a "Padrón". This process is called "empadronamiento".

Benefits of empadronamiento

You will be added to a list of people living in a certain district, if part of a city, or town. This list is used by the government to determine how many people are living in an area, and spending on public services is based on this number. If you become a padrón, more money will be available to the local authorites for these public services (such as schools, police officers, clinics etc).

This document is also needed for numerous other administrative tasks such as registering for health care, registering a car with spanish number plates, enrolling children in spanish schools, and more.

Making real estate look good in Google Earth

Barcelona real estate Blog

Friday, 03 September 2010 09:38

With google maps becoming ever more popular, with more features, and mobile access to these technologies, all sorts of cottage industries are springing up around the service. Google maps has become very sophisticated these days, with street view, and 3d view, ratings for businesses and a whole host of other metadata. Real estate companies are taking advantage of this by having their buildings made in 3D and submitting them for inclusion on google maps. It costs about 99 dollars for a company to create a virtual 3D model of your building and submit it to google maps.

This may sound like a bit of a waste of money, but more and more people will come into contact with the virtual representation of the building before they visit the physical one, so you can really stand out if you have a good virtual presence. Original article

Rock and Roll radiator

Barcelona real estate Blog

Friday, 03 September 2010 06:00

When thinking about radiators, you usually get the image of a white ugly thing on the wall warming up the house. With the years they get old and loose its style and you just want to remove them. Luckely,we live in a modern world with designer without limits of imaginations.

Tiger woods gets enormous mortgage

Barcelona real estate Blog

Thursday, 02 September 2010 09:43

Tiger woods has been in the news recently for being a naughty boy and getting divorced to his wife. Now he is single again, he looks intent on enjoying his new status. Last week, he took out a 54.5 million dollar mortgage to pay for his new 12 acre florida mansion on Jupiter Island. The new mansion has a tennis court, several pools, a fitness center and an oxygen therapy room (Such rooms have a hyperbaric chamber which is a steel tank delivering pure oxygen to the body in high atmospheric pressure. Michael Jackson famously slept in one in hopes of looking younger, and they alledgedly help against arthritis, allergies and fatigue).

Imagine the interest payments on such a large mortgage!!

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