Top questions about the purchase of real estate in Calpe, Spain

December 8, 2022

The gorgeous resort of the Calpe city is located on the Mediterranean coast, just north of Benidorm. The mild warm climate of Calpe promotes a long beach season. However, vacationing in Calpe is good both in summer and in the off-season. Calpe, quite an interesting city, though not large in size, it can be easily navigated on foot, but it is diverse, and in the high season it attracts many tourists. Perfect nature conditions including long beaches and small secluded bays, entertainment and attractions contribute to the increasing interest of foreign investors in the local real estate. Property in Calpe allows residents to enjoy the calm and measured atmosphere of a secluded town.

The purchase of real estate abroad may appear to be a frustrating and nervous process. It is especially vivid if a person wants to invest in a stunning home for the first time. To avoid possible misunderstandings, we are ready to provide detailed answers for the most frequent questions on buying real estate in Calpe, Spain.

Are foreigners allowed to buy real estate in Calpe?

As Calpe is a Spanish town, its governmental structures operate within the official rules and regulations. Foreigners have the right to purchase both commercial and residential real estate. Moreover, Spain even welcomes investments by foreigners. You will need a financial number, which can be obtained at any police station with your passport.

How can a foreigner buy real estate in Calpe?

The process of buying property in the town consists of several steps:

  1.     The buyer opens the website and chooses the desired housing option.
  2.     The buyer contacts the owner and discusses all the details of the deal.
  3.     The buyer and the owner sign a preliminary contract – contrato privado de compraventa.
  4.     The buyer pays a deposit of 10% of the whole cost of the object.
  5.     With the help of an agent, the buyer needs to arrange all the necessary documents. As a rule, they perform such actions as opening a bank account, checking the object, and drawing up the contract.
  6.     If a buyer is not ready to pay the total sum at once and wants to take on a mortgage, the agent has to collect and submit the necessary documents to the bank. The bank workers will check the credit history of a person and decide on financing.

Is it possible to get a mortgage in Calpe?

Spanish banks have no prejudices on approving loans to foreigners. On the contrary, they are eager to attract foreign investments to the country. The only issue to consider is the necessity to obtain a Número de Identificación de Extranjeros.  A foreigner can address the police office or a consulship to get a document.

Is property in Calpe a profitable investment and what ROI is expected?

Calpe is a touristic area that offers a wide selection of versatile attractions. Its convenient location and warm climate create comfortable conditions for living and spending holidays. The sights of Calpe are the chic viewpoints, the colorful old town, the beautiful promenades, the historical monuments and other interesting places, a visit to which will leave a lot of impressions and unforgettable vivid memories. All the attractions of the center of Calpe are within walking distance from the beaches.

The touristic area is characterized by a constant flow of potential tenants. The average return on investment in Calpe is 5%. However, the percentage may change depending on the type of property, location, included amenities, and other factors.

What are the extra taxes on owning real estate in Calpe?

Owners pay an annual property tax Impuesto sobre Bienes Inmeubles, IBI, whose rate of 0.4-1.1% of the cadastral value of property depending on the location and type of facility. Besides, property also requires some maintenance and rare repairs. These costs should also be considered.

On the whole

Making a step towards a stunning property in breathtaking Calpe is a wise decision. Become aware of the most stylish housing options in the community with Spain-Real.Estate. You may choose the preferable property according to the type, number of bedrooms, price, and region. Just enter the necessary criteria and start the search.

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