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Showing posts from June, 2024

Spanish Bank Account

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  Many banks offer tailored services for foreigners, providing documents and communication in English. Sabadell Bank and BBVA also offer competitive services for foreigners, while Santander has branches in the UK. British banks like HSBC and Barclays have branches in Spain, mainly in large cities, which may not be convenient for everyone unless they are comfortable with online banking. Bank fees can vary significantly among different banks, with some charging higher fees for similar services. While most Spanish banks do charge fees, there are accounts available for residents that can help avoid these fees, such as a nomina account where a regular amount is deposited, typically over €600. Additionally, many banks do not charge fees on accounts holding larger balances, such as around €50,000. Holders of non-lucrative or retirement visas may enjoy free banking services, provided they can demonstrate a substantial income or reserves. Spanish banks typically do not issue chequebooks, with

Driving Test in Spain

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  Your European driving licence will be valid in Spain as long as it is current . Any exchange of your valid EU licence is therefore entirely voluntary. Exchange means we replace the driving licence you used to hold with an equivalent Spanish driving licence . If your European licence expires , you must renew it in order to continue driving. This renewal involves exchanging your licence for a Spanish one. Also, if the driving licence has an indefinite period of validity (no expiry date), or is valid more than 15 years for group 1 (AM, A1, A2, A, B and BE), or more than five years for group 2 (C1, C1E, C, CE, D1, D1E, D and DE), you must renew it two years after establishing your ordinary residence in Spain. Exchanging driving licences Exchanging a licence involves approval of the driving licence you already hold. The licence you held is exchanged for the equivalent Spanish licence. The procedure is much simpler to follow than obtaining a new licence. Driving licences issued in any

Vigo was deemed the Spanish city with the highest quality of life

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 Vigo, which was previously recognized as the city with the best quality of life in Spain, has now been surpassed by Pamplona according to a ranking compiled by the MWCC. In a study conducted by the Organization of Consumers and Users (OCU) last May, Vigo was deemed the Spanish city with the highest quality of life in terms of mobility, public safety, healthcare services, educational services, cultural offerings, and more. The study also took into account factors such as recreational activities, sports, pollution levels, the job market, cost of living, real estate market, and cleanliness in the city. However, the MWCC, which stands for Madrid World Capital of Architecture, Engineering, and Construction, has recently released a report using data from Numbeo, the world's largest collaborative database of countries and cities. According to this report, Pamplona has now been crowned as the city with the best quality of life in Spain. Residents of Pamplona also consider it to be the mos

Secure buying your property in Spain

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 1. Begin your journey to owning a home in Spain by first dreaming, brainstorming, and researching. Whether it's a long-held dream or a new idea sparked by a memorable holiday, the initial step is crucial. Start by envisioning what you want in a property, brainstorming ideas on how you can make it a reality, and conducting thorough research on the real estate market in Spain. This phase will help you clarify your goals, preferences, and financial capabilities before moving forward. 2. Before diving into the process of buying a property in Spain, it's essential to establish some fundamental aspects. Determine whether the property will be solely for personal use or if you plan to generate income from it. Consider if you intend to make it your permanent residence in the future. Assess your financial situation to understand what you can afford and whether you'll need to secure additional funds through a loan. These initial considerations will shape your approach to the property

Cost of houses in Spain in MAY 2024

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 Housing prices maintain a relatively stable growth rate, but with very significant levels of increase. Moreover, the year-on-year increase of 7.7% is in addition to the 10.2% increase in May 2023. All the autonomous communities recorded year-on-year increases in the price of used homes for sale in May.  The most pronounced increases, above 10%, were in the Canary Islands (+24.2%), Madrid (+18.6%), Valencia (+14%), the Balearic Islands (+13.1%), and Andalusia (+11.6%). They are followed, below double digits, by Murcia (+9.4%), Galicia (+6.8%), Basque Country (+6.7%), Cantabria (+6.2%), Asturias (+5.4%), Navarra (+4.1%), La Rioja (+3.8%), Castilla-La Mancha (+3.1%), Castilla y León (+2.2%), Cataluña (+2.1%), Aragón (+1.9%) and Extremadura (+0.8%).  The regions with the most expensive second-hand homes are the Balearic Islands and Madrid, with 4,159 euros and 4,085 euros per square meter, respectively.

An oceanfront mansion, a ranch in the mountains or a penthouse in some old European city. Being rich is synonymous with having two, three or more secondary residences in which to spend vacations or work remotely. In the search of millionaires to find the best location for their homes, Madrid is gaining ground. In fact, it is the world's fourth most popular destination to buy luxury, according to the Barnes City Index 2024, surpassing destinations such as Paris, Monaco and London. The list is led by Dubai, which ranked fifth last year, followed by Miami, New York, London, Austin and Lisbon. The Spanish cities of Barcelona and Malaga are also among the 50 most sought-after destinations in the world, ranking 19th and 47th, respectively. As for Madrid, Barnes experts note that the world's great fortunes have set their sights on the Spanish capital, encouraged by the quality of life, the climate and the security offered by the city. "Cosmopolitan, cheerful and lively, Madrid is becoming a privileged place of residence for buyers from all over the world. The urban quality of life is backed by renowned safety, a pleasant climate, free public services, first-rate healthcare services, quality education and an excellent transportation system,” they note. As a sign of Madrid's economic attractiveness, the firm recalls that it is home to some of the country's leading companies and is the fourth-ranked European city in What are they looking for? Urban luxury clients are looking for homes that are well located, have high quality features, sophisticated designs and large spaces. In addition, they also demand properties with added services such as 24-hour concierge or sports and leisure facilities. In general, they are interested in historic buildings, large apartments with high ceilings located on upper floors. As for the most sought-after areas, the Salamanca district is the most exclusive in the city. There, the high standing clientele, often international, are looking for houses of more than 350 m2. In other neighborhoods such as Chamberí, Chamartín, Las Letras or Justicia, buyers are looking for apartments with two or three bedrooms, up to 200 m2, with large living rooms, which is sometimes not easy to find, since the old apartments in the capital were often designed with quite small living rooms. As for the neighborhood of Las Letras, the former artists' quarter used to be considered a less chic area and was not much in demand; however, now many of its old buildings have been rehabilitated by foreign investors. "New luxury real estate programs are still scarce in Madrid, but many investors are starting to show interest. A trend is beginning to emerge: high-end buildings with services,” the firm points out. At the moment, the cream of the crop are the residences created by the Mandarin hotel chain. Client profile Foreign buyers are a fundamental part of the domestic luxury real estate market, especially in coastal areas and Madrid. In terms of origin, investors from Latin America stand out, representing 60% of Barnes' client portfolio. In second place are the British, closely followed by the French and Americans. The latter, who have gained weight in recent months encouraged by the exchange rate, are investing “massively” in the coast and the Balearics. "Generally speaking, demand has been on the rise since 2020. Indeed, many foreigners have appreciated the city during the pandemic, as it remained very active in terms of restaurants, bars and events,” they explain. At the same time, demand is increasing considerably from Colombian, Peruvian and Chilean buyers, due to the political situation disrupting their local economies. As for the evolution of prices, the market consensus forecasts increases throughout the year, although they will be moderate. As for trading volumes, they will grow by around 20%, in line with the previous year.

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 An oceanfront mansion, a ranch in the mountains or a penthouse in some old European city. Being rich is synonymous with having two, three or more secondary residences in which to spend vacations or work remotely. In the search of millionaires to find the best location for their homes, Madrid is gaining ground. In fact, it is the world's fourth most popular destination to buy luxury, according to the Barnes City Index 2024, surpassing destinations such as Paris, Monaco and London. The list is led by Dubai, which ranked fifth last year, followed by Miami, New York, London, Austin and Lisbon. The Spanish cities of Barcelona and Malaga are also among the 50 most sought-after destinations in the world, ranking 19th and 47th, respectively. As for Madrid, Barnes experts note that the world's great fortunes have set their sights on the Spanish capital, encouraged by the quality of life, the climate and the security offered by the city. "Cosmopolitan, cheerful and lively,

A realtor can't be a Spanish Home Finder if has any listing

 

Benefits of Spanish Home Finders

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  There are several benefits to using a Pinnacle buyer agent when searching for properties in Spain. Firstly, they have access to a wide range of properties that may not be available to the general public. This can give you a competitive edge in the market. Secondly, buyer agents can negotiate on your behalf to get you the best deal possible. They have a strong understanding of the local market and can help you navigate any legal or cultural differences. Lastly, buyer agents can save you time and stress by handling all the paperwork and logistics involved in buying a property in Spain When looking for a buyer agent in Spain, it is important to do your research and find a reliable and trustworthy professional.  Once you have a contacted with us, schedule an interview to ask about our experience, qualifications, and fees. Once you have chosen a Pinnacle buyer agent to work with, it is important to communicate your wants and needs clearly. Make sure to provide them with a detailed list of