Types of Properties for Investment in Spain – Property in Spain can be classified according to different parameters. In order not to get confused, you will find learn about the main classifications of housing in Spain in this article. Spain-Real.Estate website hosts a huge base of real estate agencies in Spain, which can help you find perfect home whichever type you prefer. Now on to the classifications.
Table of Contents
Types of real estate
Firstly, housing in Spain by type of real estate is divided into:
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Casa unfamilar
It is a detached house that can also border on neighboring houses. When designing, you should immediately decide what kind of house you are building – for one, two, or more families. You must take this into account when the registration process of documents for housing will start.
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Casa adosada (townhouse) or edificios (high-rise buildings)
These are collective housing, one- or multi-story buildings, in which several families live. In this case, the number of stories of a building depends on the architecture of the area in which it is located and on the design of the residential building itself.
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Loft (lofts)
It is a modern housing that appeared back in the 1980s. Then non-working factories and plants began to use residences. Such type is distinguished by a large open space and high (sometimes even too high) ceilings. As a rule, the cost of meters here is 30-40% lower than usual.
Construction time:
According to the construction time, real estate in Spain is divided into:
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Obra nueva or new buildings.
Such objects during the sale period may be at different stages of construction: from drawing up project documentation to handing over a completed house to a commission. When purchasing a new building, the transaction costs are somewhat different from the costs of buying and selling regular housing.
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Vivienda de segundo mano or resale property
This term is used when a house or apartment is put up for sale by its owner (landlord) or his representative, for example, an agency. More than 80% of transactions in Spain are in housing from the secondary market.
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Vivienda seminueva i.e. “Semi-new” real estate
It means that a new real estate is bought and put up for sale by its owner without prior occupancy.
Condition of real estate
Another classification of real estate is according to its condition.
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Vivienda normal
This is property offered by a real estate agency that anyone can buy freely.
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Vivienda con Proteccion Oficial – VPO
More than 90% of all real estate is housing with official protection which is sold at a minimum price through partial government subsidies. Only residents can buy “Protechido” property in Spain, and there are several special laws and regional programs that help to acquire such “social housing” on favorable terms.
Classification of housing by use:
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Vivienda habitual
It is housing that the owner uses for his own residence (his or his family). As a rule, homes belonging to the vivienda habitual category receives more favorable credit conditions and is separately allocated in many laws
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Vivenda de segunda residencia
A house or apartment, which the owner uses either for living “on short trips” or for renting. That is, the second, third, fourth housing cannot be listed in the tax and other documentation, like “vivienda habitual”. As a rule, mortgage lending and insurance of such property come at a higher rate.
Property in Spain
Though there are plenty of housing types in Spain it is easy to find the one for you. You should just visit Spain-Real.Estate website and specialists will help you in your search.