Real estate in Spain on credit – what to fear?
Buying real estate in Spain on credit, especially in the resort regions – Costa Blanca, Costa Brava, Costa del Sol, has recently become very popular. The reason for this is low interest rates, soft conditions for both Spanish citizens and foreigners. But what pitfalls mainly sink the big ships of human plans and dreams in the matter of buying a home?
The first thing that buyers do not take into account is the cost of actually getting a loan. You can't just come to the bank and ask for a loan – this is a rather complicated procedure that requires both time and money. The exact costs that await you on the way are described in our other articles, but the amount itself can be up to 1-2% of the loan amount. Therefore, when choosing an object, take into account the costs and do not choose a house or apartment in Spain exactly on a budget!
By the way, if you decide to repay the loan ahead of time, the bank will require compensation in the amount of 0.5% of the loan amount. If you repay the loan after 4 years from the conclusion of the contract – 0.25%.
The second thing to be afraid of is insolvency. Although the bank will require a stack of documents to ensure that you can pay everything on time, there are different things in life. If you do not pay the loan for some time, then the bank has every right to evict you (before paying the entire loan amount, the property formally belongs to the bank)!
Over the past few years, there has been a rapid increase in real estate prices in the Israeli real estate market, which is why the markets began to gradually fade - the number of sales decreased every month.
Israel as an excellent real estate market for foreigners has been open for more than six years. Due to the rise in real estate prices in 2020, many, especially Russians - due to the abolition of the visa regime, are eager to invest in Israel's growing housing.
The Real Estate Valuation Department of the Israeli Ministry of Justice provided the public with such information. In major cities: Jerusalem, Tel Aviv and others, the cost of housing continues to rise.
Good news for those who intend to buy an apartment in Jerusalem or find a good ground for investment! The Jerusalem Mayor's Office has approved the construction of more than five hundred new properties in the city.
The incessant rise in housing prices in Israel in large cities leads to the fact that fewer and fewer people have the opportunity to purchase it. Therefore, the popularity of the real estate market of large Israeli cities is gradually falling. Especially after the coronavirus. People have no money left at all.
Alupka is a small, but very attractive seaside town for foreign tourists. Being very close to other resort centers - Yalta, Simeiz, this city has found something to stand out, and therefore there are always many people who want to buy a house in Alupka.
How to buy a house in Yalta. Real estate prices in Crimea remain stable, and the purchasing power of citizens is falling - in light of this, it is a sin not to take advantage of the opportunity and not buy a house in Yalta - one of the most popular Crimean resort cities.
It would seem a stupid question - what can you have fun in such a popular, fashionable and developed resort as Alanya? But many tourists who come here do not know half of the entire entertainment potential of the city, so it is worth briefly describing it.
Surely everyone who has only recently been able to buy a house in Mahmutlar, there was a need to purchase a large number of things. The residents of the town have a great opportunity to help each other, sell unnecessary things and buy necessary things from neighbors! Booking a table for sales cost only 5 lire.
Turkish Alanya can rightfully claim to be the "sunniest" resort: the number of sunny days here is rarely less than three hundred. The climate in Alanya is warm, there is no sea hardness, cold winds.
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- Real estate in Spain on credit – what to fear?
