Spain
A very popular travel destination for holiday makers, from numerous northern countries,
amongst them Hungary too. Hundreds of kilometres long seashores, Mediterranean climate
with high number of sunshiny days, mild winter, all make it the prefect holiday destination
and a brilliant investment opportunity. Direct budget airline routes from Hungary to Spain,
some directly to a seashore airport.
- 2-5% annual yield from letting, it strongly depends on the location
- Most popular destinations are Costa Del Sol, Costa Blanca, Costa De La Luz, Costa Calida ,
Mallorca, Canary Islands - Modest, but steady growth of property value every year
- 1-2 bedroom apartments from around €80,000, 1-2 bedrooms terraced houses around
€150,000, villas are from €300,000 - Transaction tax 1% if new, 7% if used, these could be vary by country
- Registration fee 1% + VAT (21%)
- Searches typically done by local lawyers 1-1.5% + VAT
- Required time of completion after the property is chosen: 1 month
- Continuous taxes: 0.4-1% Property tax annually, 0.5% Income tax (if not rented) based on
the property value, 24.75% Income tax (if rented) from the income on rent - Wealth tax up to €700,000 value, no tax, above €700,000 there is an annual tax, based on
a table