YOUR BUYING GUIDE ON THE
MARBELLA
PROPERTY MARKET ?
WHAT ARE THE BUYING COSTS?
DON’T BELIEVE EVERYTHING ON THE NET IS IT POSSIBLE GET MORTGAGE ?
PRICES NEGOTIABLE ?
1. INTRODUCTION
We have compiled this publication in response to regular questions from customers and interested parties. It is not a template, but the result of decades of local experience. It will help you to find information that will save you time, effort and money, and avoid disappointment. I trust you will find the Shopping Guide useful. I hope we can meet in person in the near future.
Thank you in advance for your trust!
Dr.Zsolt Horváth Miguel
dream home at the best possible price
Dear Valued Client! Your interest is our priority. We will live close to each other, so for sure you will be contacting us again, for example, to ask where to find a doctor for your child or where to go if you are looking for a skilled tradesperson. We are proud to have excellent relationships with all our customers, many of whom have matured into friends.
You will see a lot of publicity on the internet, and it's often difficult to know which ones are still relevant and which regions have what types of advantages and disadvantages. There are online courses available, where for €100, they will give you information - we will give you that for FREE in this brochure!!
We can help you find your way through this sea of information, free of charge. Correct information and a fair approach pay off in the long run. Our agency has contracts with hundreds of developers of new housing developments and we are members of both major real estate portals, so we have a full range of products to choose from.
Our goal is to help you find the home that best suits your needs and secure it at the best possible price!
THE BUYER PAYS NO COMMISSION
Have you ever wondered who pays your estate agent? Many people don't know how the system works, so they fall for some "brokers" who claim that because they represent you, they get a special bonus. In reality, the agent who represents you in the buying process gets his commission from the seller.
Some people come to look around, to get to know the place without the intention of buying. This is what some agencies specialise in, who want to make sure they get paid without selling. In most cases, they are so determined to sell property to the unsuspecting buyer that, without knowing the area, he believes the broker's claims and accepts the offer.
On the Costa del Sol, the vast majority of agencies work in an ethical way, receiving their commission from the seller when the final sales contract is signed.
As many owners do not live here permanently, they tend to leave the keys to their house with an estate agency they trust and entrust the sale of the property to them.
There are rare cases when we are able to acquire a property from a bank or through an auction, in which case we will inform you in advance and agree on the amount of the offer.
If you are looking to rent a property, the rental market is a little different, as landlords do not give a commission. In the current market environment, when clients are queuing up for better properties, our agency charges half a monthly agency fee when we find the right home for you.
Beware of Scammers
We treat our customers ethically and we do not ask our customers to sign a contract - a handshake is enough. Some agencies will ask for your personal details and try to get you to sign a contract that you will only look at or buy property, with them.
We do not work in this way - we prefer to earn the trust of our clients without pressuring them in any way. Some agencies lure buyers with properties that have long since been sold. There are also those who ask for a deposit of thousands of euros before you even get on the plane, stating: we'll hold the property for you until you arrive in Spain. When you arrive, they tell you that unfortunately it has just been sold by another agency, but don't worry, the money is not lost, it can be used for another purchase (but only with them).
Some Agents are very unprofessional - they do not have a registered business or even own a car! Yesterday they were a personal trainer or waiter, today they are real estate brokers.
Unfortunately, here in Spain, there is no professional license for practicing real estate, like there is in many other countries. This means that anyone can begin working in this field without any kind of professional accreditation or such like. This has led to many unprofessional (and in some cases, unethical) people working in this industry. In times of the boom, it is not unusual to find someone working as a waiter one week and selling real estate the next. Your real estate professional should, at the very least, speak Spanish and have a basic knowledge of the industry. It is amazing how often we meet other “Agents” that do not speak Spanish and even do not have a Spanish phone number. They are known as “fly by nights” – here one day and gone the next.
At Move2Marbella, we are proud to have an excellent reputation, earned by over 20 years in the industry. Trust and Transparency are our tools for gaining new clients, and it has proved beneficial over the years.
3 conditions of purchase
When you are looking to buy, there are 3 important criteria to consider and it is important that all three are met before signing any type of sales contract. Buying advantage if the funds are already in your Spanish bank account. Although it seems a silly thing to state, but the most important thing is to ensure you have enough funds to cover the purchase, including all the taxes, Notary fees and legal fees. Too many times, we have seen clients miss out on an opportunity, simply because the funds have taken too long to be released. This often leads to disappointment, because by the time the client has returned and is in a position to buy, the prices have increased and they can no longer find the right property in their budget.
VIKTORIA FEKETE
Bank transfers, currency onversions and releasing funds from pensions are all common reasons that lead to delays. Also, having the funds ready here in Spain can often give a buyer some leverage on a negotiation – if you can reassure the owner that you can close the deal quickly, they are more likely to compromise on the sale price.
The second requirement to buy property in Spain is a NIE Number (Número de Identidad de Extranjeros), which is a unique identification number. You can apply for a NIE Number in Spain at the local police station, by appointment. You can make an appointment by phone or online, which is quite slow. There are so many applicants that it can take several weeks or months before an appointment is available. If you don't speak Spanish and don't have the patience to go back, queue and wait, you can instruct our staff to help you get your NIE number. When you buy property, don't worry, we are with you every step of the way.
The third condition is to have a Spanish bank account. This is where taxes and other property-related costs will be deducted. You cannot open a bank account online, you will need to do this in person, it may be useful if you are accompanied to the bank by a member of staff. When you transfer money to your Spanish account or apply for a loan, you will find that it is not always the same bank where you have your account. We can also help you choose a bank - it is worth consulting us.
Contact us about applying for a NIE Number, we can help you !
Make a list of your needs
What are the qualities that are absolutely necessary, i.e. "must-haves"? For example, you must have a sea view, a covered garage, storage, at least 2 bedrooms and a living room, etc. It is a good idea to think about these features in advance and we will draw up two lists together.
In one list we put the features that are mandatory, and in the other list we put the features that are "good if they exist". With these two lists, my staff and I can put together a selection of features that best meet your needs.
The next step in the workflow is that we send you the selection and you choose which ones you want to view. We will organise the visits and set up a viewing schedule so that we can view a property every half an hour or hour for larger properties.
Suggestion: Look at homes that don't have everything on your list. Many of our customers have found their dream home this way.
2. the PIAC Environment
The general market trends that there is a demand market in our area do not apply to Marbella and the surrounding area.There are relatively few good quality properties for sale and buyers from colder climates (Scandinavian countries, Belgium, the Netherlands, the UK, Ireland, Central Europe) are constantly coming in, regardless of crises and wars.
I arrived in Marbella in 2010, when the 2008 crisis hit. While property prices in most of Spain have fallen, there have been stable regions, including Marbella. Prices did not fall during Covid either, but rather Mediterranean regions became more popular and prices continued to rise. Previously there was a stable price increase of 4-5% per year, but in the last 2 years there has been an average price increase of 20-30%, as you can see much higher than the national increase.
There is a buyer's market, which means that the better properties will quickly find a buyer. There is a very strong demand for new build properties, with almost all properties selling on the drawing board. Although there seems to be a lot of construction, there is still a shortage of good quality new properties. Infrastructure is also keeping pace with construction, with housing estates on the outskirts of Estepona, a new hospital, a new school, a sports centre and the Estepona Football Club's pitches already in place.
The Authorisation for Use
The Licence of First Occupation (LPO or Licencia de Primera Ocupación in Spanish) is an official document that is used to certify that the property has been built in accordance with the building permit that was previously issued.
The LPO certifies the first and regular occupation of a building or house.
This is one of the most important documents as it shows the property’s legal status. It is not possible to obtain a mortgage from the bank without this document.
Can I buy a property that does not have an LPO?
If the property was constructed prior to 1980, then the LPO is not required because it was built prior to the law that required this license.
Is there a document that can replace a certificate of occupancy?
If the property does not possess an LPO, you can request a certificate from the local council stating that the property conforms to the General Urban Plan and is a legal construction (Certificado que no hay infracciones urbanistica) which can usually be obtained in 1 to 3 months.
From favours to property management
Many small favours can add up to hours of work a day!!
Many of our clients approach us to help with their troublesome problems. Many of our nearly 5,000 previous customers may have had a sudden increase in their electricity bill, a problem with their internet service, a car break down, a parking ticket on their windscreen, a letter from the tax office, a broken boiler, etc.
They have nowhere else to turn, as the majority do not speak Spanish. We can help you - ask us for a quote to manage your property.
Many say "It’s just a phone call", but you may be the fourth person to have asked us, "Call Endesa! Pay the fine! Organise the clean-up!" etc, but a phone call to the electricity company to resolve a problem can easily take an hour. We are happy to help, but we are forced to make a charge for these services to assist you.
It's OK to do a favour, but if you don't have a local agent to take care of things for you when you're away for weeks or months, it's worth agreeing a flat monthly fee with our office to avoid having the lights left on and still get a discount on your fine (you can get a 50% discount within 30 days).
9. WHO CAN GET CREDIT?
Hungarian citizens have had great difficulty to get a loan from a Spanish financial institution in the last two years. From the end of 2023, new regulations were imposed: loans will be granted to people whose regular monthly income is in HUF, subject to certain conditions.
The applicant must fill in a form and the bank will prepare a free pre-qualification. No documents need to be attached at this stage, just fill in the form. The conditions are:
■ for purchases over €300,000
■ maximum maturity 15 years
■ the bank will finance up to 50% of the estimated value of the property
■ The repayment cannot be more than 20% of your monthly regular income
This means that if the monthly repayment is €1000, the applicant must have a net income of €5000/month. Ask us about financing options
JENNIFER TÖRÖK
How do Estate Agencies work?
The internet has revolutionized the way buyers search for a home. 20 years ago, the estate agent would say "buy this because it's a good buy" and the buyer would do just that. At that time, estate agents booked the best properties from the drawing board and it was common for the buyer to pay half of the purchase price to the builder and the other half (in cash) to the estate agent. In this way he could buy the apartment with the best view in the building.
Nowadays, the internet makes it easier to find property for sale, and we may have already crossed over to the other side of the pond: anyone can upload anything to the internet and real estate portals. There are thousands of self-proclaimed real estate agents who, when they see an advertisement, immediately steal the photos and details and
publish a 'clone' of the original advertisement for a few thousand euros less.
Most of the official real estate agencies (over 1100 agencies), such as Move2Marbella , work from real estate databases. This means that they pay system access fees to internal portals where they can upload their own properties for sale and search
through the properties uploaded by others. More importantly, these databases are constantly updated, and administrators do not allow duplicates, i.e. multiple (clones) of the same property cannot appear on the internal system. Users of the system have to subscribe to an ethical working pactice. These systems ( Resales-Online, Inmobalia ) are used by real estate agencies. Move2Marbella is a subscriber to both, so we can offer our clients the full range of available services. Once we have agreed with you what your needs and expectations are, we will send you properties using these databases, and you can even send us properties you have found on the Internet. By the time you leave, we will have gone through several rounds of meetings and will have organised visits.
Don't be surprised that the Spanish vendors are not available on a Sunday. We are more than willing to work but if the owner who lives in the property, desires privacy on a Sunday, we have to respect that. For clients planning weekend property viewing tour, plan private activities and excursions for Sunday.
FIGURES AND FILE DATA
Spanish land registry data can show two types of floor area.
The constructed floor area or the useful floor area. There is a significant difference between the two and it is important to understand this when comparing properties. Unfortunately, there is no one defined method for the measurements as there are in other countries and this can cause confusion for buyers - constructed area refers to the measurement from the EXTERIOR of the walls. Useful area refers to the measurement from the INTERIOR of the walls. So, two properties of the same size can actually display different measurements on the title deed, depending on if they are stating the constructed area (construido) or useful area (utiles).
1) Typically, the land registry ( Registro de la Propiedad ) will give you the physical characteristics of the property and information about the encumbrances registered on the property.
2) The Land Register or Real Estate Cadastre ( El Catastro Inmobiliario ) is an administrative register under the Ministry of Finance, and its main function is to calculate taxes such as IBI (local tax), inheritance and gift tax.
In Spain, unlike in Hungary and other countries, there is no obligation to submit a floor plan to the Land Registry, so floor plans are rarely available. A professional should be asked to do this if it is needed.
Useful and installed floor area
The calculation of the floor area is essential in determining the price. What is the difference between built-up and usable floor area?
1) Useful area means the entire walkable area of the property, including where there is furniture or cupboards. The space occupied by partitions, columns or pillars is not taken into account.
2) The built-up floor area includes all square metres within the perimeter of the dwelling, including partitions and the area under the walls. If a wall is shared with a neighbour, the measurement starts from the centre of the adjacent wall.
There is also a lot of misleading information in advertisements. Basement with and without terrace, sometimes published this way, sometimes that, unfortunately. The exact details will be revealed when you ask for the property documentation.
MARIA BRNAKOVÁ
3. Costs and other aspects of the purchase
If you buy a new-build property in Andalusia, you will pay the following two taxes:
1) VAT, which is 10% of the purchase price
2) Stamp duty (IAJD, in Spanish) of 1.2% of the purchase price
When buying a second-hand property, the buyer pays a transfer tax of 7% of the contract price, which cannot be less than the cadastral value (Impuesto de Transmisiones Patrimoniales or ITP). The deadline for payment of the transfer tax is 60 days from the date of the notarial deed.
If you buy from a Spanish company involved in property renovation and marketing, you can opt for the reduced transfer tax of 2%, but you will have to sell the property within 5 years or pay the difference between 7% and 2%, plus administration costs.
There are other costs involved in buying both new and second-hand property:
■ Lawyer's fees usually 1%
■ Notary fee approx. 0.5%
■ Land Registry fees (approx 0.3%)
■ Bank charges in case you take out a loan ( valuation fee 300€ - 1000€ )
Agency fees are paid by the seller when buying a property, the buyer pays no commission!
Don't believe EVERYTHING you see on the internet!
I often hear from customers that they have found a great deal online. They see a home that looks like it's for sale and well below market price. Sometimes you have to pay a minimum amount for the detailed information, like €1 or €5. Such a website typically wants your credit card details. Never fall for such tempting offers.
There are some sites that list properties that have been sold long ago: one of the "top" sites has a database that is about 3 years old and not updated. In vain to check with the buyer that the property in question is no longer on the market, the buyer believes what he wants to hear, so confident is he that he has found a "treasure".
We used to say that "there are no miracles", if something has been on the market for a long time and the price is attractive, something is wrong. E.g. the community has prohibited the owner from using the property for tourism purposes, or there is no occupancy permit. It should be recognised that the
internet helps to get information quickly, but there is also a lot of misleading information on the web.
There is an old expression which is very apt for Spanish Real Estate - “If it seems too good to be true, it normally is”. After 20 years working in Spanish Real Estate, we have seen numerous scams - we are here to help you avoid falling victim to them.
the Facebook "experts"
Many people love it, many people ignore it, but you can't get away from it. The free flow of information has a huge advantage, so you can get up to speed on a subject in no time, and it doesn't matter who you get the information from. All you need is a good group name and you can access the membership of up to twenty or thirty thousand in no time. If you are thinking of moving abroad or want to move to the seaside, there are several Facebook groups.
Ostensibly set up with the intention of helping, these groups are in fact a business, a public interest site turned into a marketing tool for an agency. There are also people who have several fake profiles and comment positively on their own posts, as the unsuspecting visitor sees how enthusiastically they praise the author of the post.
Ignore the fact that Facebook is an "underpass" where anyone from the hairless to the brain surgeon can pass through, express an opinion and you don't see the real identity of the commenter, just a profile picture. Really busy, successful people don't have the time or energy to hang out on social media, but a bored, unemployed person has all the more. They are the opinion leaders at the moment, or at least appear to be. When someone asks you if you can recommend a hairdresser in or around Marbella, the "very enthusiastic" members will give you a name, that X or Y is a very good hairdresser, but they won't add that it's 600 kilometres from Marbella. This is also what happens when someone is looking for a reliable real estate agent. We get a lot of recommendations, but we are listed with the waiter, the housewife, the handyman, who they think 'I'm sure Joska knows a property for sale, he's been living outside for a year.'
We also have a group Hungarians on the Costa del Sol . Here you will not find properties for sale, but lots of useful information, the members are helpful and supportive.
ELEMENTS OF THE OFFER
A good competitive offer is not just about how much you offer (although that matters too!).
Here are some typical conditions that may be of interest to the seller:
■ Are you flexible about the closing date? (Eg, they may want time to look for another apartment, or may need to close quickly).
■ How much deposit are you willing to pay in advance?
■ Do you need to take out a loan or pay the purchase price without a loan?
■ Are you buying for a business or as an individual? ( starting a business can slow down the process)
MARIA IVADY
■ Do you have any special conditions to the seller? When making an offer, the following can help:
■ Make sure that you agree to the terms of the reservation contract !
■ Being able to close quickly can often give you good leverage in the negotiation.
■ If you are using credit to buy, include pre-approval with your offer (ideally from a reputable lender that no agent or owner will question.)
■ The fact that you have deposited a small deposit with your lawyer - for which you will bring a bank receipt - can also be an advantage, it gives the offer a seriousness
■ Be ready and react quickly, tactical stalling does not work.
If the customer is too slow to respond, it can create the wrong tone. Often the agent who seems the most organised and reliable will be the one who accepts the offer. The seller or agent is confident that the deal will go smoothly and close on time. When the time comes to make an offer, it is very important to do your best, even beyond the amount offered. In the end, it pays to be fair.
Leave the negotiation to us!
You've probably heard that negotiation is an art. And it's true. Sometimes the buyer may make critical comments about furniture that he doesn't want, but the seller may have an emotional attachment to it because, for example, it came from his parents. Such a seemingly small factor can ruin a deal. What approach to take depends on the following:
■ The seller we are negotiating with.
■ The agent we're negotiating with.
■ The general situation (how many other offers there are, the current rate of sales, etc.).
■ How much the buyer wants the concrete property
Of course, there are other factors that are also taken into account. Many buyers think they can get the best price for a home by playing "hardball" and trying for a low asking price.
When selling a residential property, being tough can do more harm than good. That doesn't mean you won't get the best deal possible. It just may not look or sound like some people imagine from what they see in movies and on TV. In real life, you have to write the right script, at the right time, for the right audience.
4. Steps to purchase
The process of buying a property starts when the buyer and seller agree on the purchase price. The buyer reserves the property by paying a deposit. In most cases, this amount is 1-2% of the purchase price (usually €6,000 to €10,000) and this removes the property from the market.
The deposit will subsequently become part of the down payment or purchase price. The buyer transfers the deposit to the escrow account of his lawyer. The lawyer sends a confirmation of the transfer to the seller's lawyer, which starts the sale process.
It is often the case that we want to show the seller that we are serious about the purchase, so the buyer deposits the deposit during the transaction. When you want to get a good price, the seller will take the offer more seriously if you attach a deposit receipt.
Our real estate agency also has draft reservation contract ( Contrato de Reserva), which we fill in and send to the seller's lawyer with proof of payment. When the parties agree on the purchase price, a short contract is drawn up stating when the Reservation Contract will be signed, the payment schedule and the expected date of signing the Final Purchase Contract (Escritura)
Once the parties have accepted the terms of the deposit contract, both parties sign it. The buyer's lawyer transfers the deposit to the seller's lawyer, which is non-refundable, if the buyer withdraws from the purchase. If the seller withdraws, he will return the deposit to the buyer plus the same amount as a penalty.
Typically, within a relatively short period of time after the buyer’s lawyer completes the legal due diligence (within approximately 15 days), the parties' legal representatives will draw up a contract for the payment of the purchase price, known as the contrato de Arras or private purchase contract (PPC), at which point the 10% of the purchase price, (less the initial reservation deposit), is paid and the date of the notarial deed is set. This deed is most similar to a sale and purchase contract drawn up by a lawyer in Hungary. This deed sets out all the conditions and obligations that the parties have agreed to.
In many cases, both the seller and the buyer are present in person, or have an official agent who signs the contract on their behalf, when the final contract of sale, the Escitura, is signed. The signed original of the escritura remains with the notary and a copy of the contract can be requested.
DR.FERENC BINDICS - LAWYER
The handover of the property
Once you have taken possession of the property, it is worth changing the lock, as we do not know who previously had keys to the property. We recommend that you buy a lock where the key can only be copied by showing a code card - this way you can avoid someone copying the key without your knowledge.
If the property is being sold furnished, our office staff will take an inventory of the contents with photos. The inventory will be attached to the contract of sale and will indicate the value of the movables. When the property is handed over - for new build properties - a handover report is drawn up, any defects are noted and corrected by the builder. In the case of second-hand properties, the parties have agreed at the time of the contract of occupancy that the property will be handed over to the buyer in the condition in which it was viewed by the seller. At handover, the seller can no longer be forced to make certain repairs to the property.
LINDA DIENES
Guarantee types
Since May 2000, all new properties in Spain built by a construction company are required by law to carry a 10-year guarantee against structural defects.
The second group of guarantees covers defects that directly affect housing. These problems are usually serious. They can endanger the health and hygiene of the occupants or even the environment itself. The guarantee period is three years. Examples include damp stains in bedrooms (which can lead to aggressive mould growth if left unchecked), faulty electrical appliances, leaking gas pipes, etc.
The third category of guarantee is defects that are visible to the naked eye. For example, mismatched floor tiles, missing tiles, chipped paint, faulty door handles, leaky taps and generally anything that is linked to poor workmanship or inappropriate materials. The guarantee period is 1 year.
Spanish law also protects buyers of second-hand property against hidden defects, although it is much more difficult to prove the seller's liability. The defect in question must be serious enough to jeopardise the stability of the property and prevent the buyer from living in the property under normal conditions.
5. First steps after taking possession
In Spain, new build properties are sold with kitchen furniture and appliances (oven, hob, extractor hood, fridge, air conditioning installed and working), which are also essential accessories of second hand properties, never taken away by the seller, and unfurnished apartments come with kitchen furniture, appliances and built-in cupboards.
You can buy the rest of the furniture in Hungary and a truck will bring it to you, although most of our customers have compared prices and quality and concluded that Spain also has better quality, a wider choice and better prices.
If you hire a professional interior design company, they will provide you with a layout plan, a style chart for around €2000-4000, from which you can choose together what you like. The total cost of furnishing a 100-150 m2 apartment is between 20,000€-40,000€ for a 300-400m2 villa between 60,000€-200,000€. Of course, with furniture from Fendi or the famous interior designer Pedro Peña, furnishing can be much more expensive.
Here again, the rule is that if you want to furnish your property for sale, you can furnish it tastefully from the cheaper category, and if you want to use it for your own purposes, you can spend more money.
Renovation works
Most of the better locations have been built up for a long time, while the well-located properties were built a long time ago and therefore need renovation.
In the past, homes near the coast were only used in summer, but nowadays more and more people are living on the Costa del Sol full-time, so properties need to be adapted to offer complete comfort from winter to summer. The old-style windows with poor insulation, the air conditioning that is not always economical and noisy and the tiling is predominantly marble, which keeps the property cool in summer but uncomfortable to walk on in winter.
Replacing windows and flooring are the two most expensive items in a renovation. If you are replacing the flooring, it is also worth installing electric underfloor heating, because although the sun shines a lot in the south of Spain, it can be 8-10 degrees at night in winter. Your home will be much more comfortable with these extras.
Replacement of electrical wiring and plumbing is also needed in a 15-20 year old building. The cost of a renovation depends entirely on what you want to do.
We can recommend renovation companies, Spanish and even Hungarian contractors. You can decide which offer is more attractive to you.
Usually, after a complete renovation, the value of the property is worth about 30-40% more (depending on location). Many people look for a property to renovate, reform it and then sell it at a profit.
In particular, properties close to the coast or directly on the coast are worth buying for this purpose, because they are the quickest to sell after renovation and you can start looking for the next property to renovate. Those who renovate on their own usually use better quality materials and spend more on renovation. We have extensive experience in this field, with an excellent track record for our clients and investors.
How to protect your home?
In particular, you should buy in a zone that is not in a neighbourhood with a poor reputation . This is often the reason for the "extremely" attractive prices. Another concedrn is that illegal squatters move in and it is a very slow process to get them out of your home. The 'okupa' or illegal squatter zones are the popular areas in parts of Malaga city, or any residential area where there is no 24-hour security.
How to protect yourself against burglars and squatters:
■ The best protection is prevention, don't buy a property where anyone can walk in!
■ Take out home insurance, which also covers your belongings!
If there is no 24-hour security service
■ Install an alarm system connected to an alarm control panel
■ Install a safety grid!
Utility bills
The seller or his agent notifies the utility companies that the property has been sold. The buyer's attorney will ensure accurate accounting and transfer of the service contracts from the date the final sales contract is signed, into his client’s name.
.The bills will be transferred into your name, and the service providers will use a direct debit to collect the service fees, so you won't be surprised by interrupted suppy if you don't pay.
Only Spanish bank accounts can be used by service providers to charge you for consumption, so don't even try to use a Hungarian account number. The same applies to common charges, waste collection charges and the local council tax (IBI), which should also be transferred by your lawyer.
ZÉNÓ BABIÁK
26. Costs for the owner
Congratulations, you are now an owner. In this section we summarise the fixed and variable costs involved:
■ Local tax "Impuesto sobre Bienes Inmuebles" (IBI) IBI is a tax levied by the municipality where the property is located and is paid every year. It is paid by the person who is registered as the owner on 1 January of the year. The rate is set by the local authority, the general rule being that it cannot be less than 0.4% or more than 1.3% of the cadastral value of the property.
■ Common cost. (or Community Fee) Property owners usually pay common charges every month, or every two months or quarterly. The amount paid is used to pay for cleaning and maintenance of common areas, gardens, swimming pools, lifts, building or complex management fees and security-related
REGAN BERGER
expenses. Also for any community service such as a gym. On average, it is 200-800€/month.
■ Refuse collection fee. This is a fee payable to the municipality for the collection and removal of waste. Each municipality determines the time and method of payment. Usually 80-90€ per half-year
The other group of costs is the variable, which depends on consumption:
■ Electricity. In Spain, the electricity bill consists of 2 parts, the contracted potential and the actual consumption. The average consumption of a family of 4 people varies between €80 and €150 per month.
■ The cost of water in Spaniards is not significant, the average consumption of a 2-bedroom apartment is no more than €30-40 per month
■ Internet usually from 30€ per month already in packages ( Avatel, Olin, Movistar, Vodafone )
If the property is rented out, the landlord is usually responsible for the IBI, common charges and rubbish collection, and the tenant for electricity, water and internet, but the parties can agree otherwise.
sfdasdxxx
27. life on the Costa del SoL
When you've been living here for months, and you look up at the clear blue sky, gaze at the yearround greenery, breathe in the high humidity, salty sea air, you know you love where you live. Add to that a well-developed infrastructure, high quality public and private healthcare and excellent schools, and you can be almost certain that it's a great place to raise children, a great place to retire, and even a great place to relax.
Most of our compatriots are living in two countries, spending months at first, then six months and settling in:
There are Hungarian paediatricians, dentists, dermatologists, car mechanics and professionals from almost every service industry, from hairdressers to electricians. There are no language difficulties, a small Hungarian community has been created far from our homeland. English is manageable, as 40% of the population is foreigners, and Spanish can be learnt in a few years (there are state-subsidised language schools, and private lessons are available from Hungarian teachers)
Some foods are cheaper and you can buy a wider range of quality goods, and if you fancy a favourite Hungarian dish, Romanian or Russian shops sell cottage cheese, smoked meats and even pickled cucumbers. Several official international transport companies are constantly at work, moving families out or delivering large parcels to new homes. Welcome to our small community! Click on this link to join a helpful, supportive Facebook group: Hungarians on the Costa del Sol .
