Buy Property Polop
Are your thinking of buying a property in Polop, Spain? Most people seeking to buy property in Spain naturally head for the Mediterranean coastline. In this article we will tell you everything you need to know about buying av property in Polop.
The Polop property market – especially the new-build sector has sprung back into action. The INE have also revealed that 40 per cent of foreign buyers in Spain were in the Alicante region (including the Costa Blanca).
Search and find your dream property in Polop
Polop is a city located in Alicante province in Spain. It is a metropolis in the comacra of Marina Baixa in Alicante. It is located to the northeast side of the Alicante province. It shares the border with Callosa d’en Sarria aided by the Guadalest river. Among the important geological features of the city are the Sierra del Monte Ponoig and ravines. These flow to the east.
Polop is lovely little Spanish town, a lot of ex pats live here, along with many Spanish and some Norwegian people. The town has a great, friendly atmosphere with some lovely views. The city is accessible via AP-7 or N-332 from Alicante by taking CV-70 route up to Benidorm. The main source of income for most of the citizens of Polop is agriculture. Almond and olive trees are among the major crops. Additionally, citrus fruits and persimmons are also among the major part of agriculture.
Why do you want to buy a property in Polop?
It is important to ask yourself why you are buying a property in Polop. Do you want somewhere
for holidays or do you want somewhere as an investment to pass on to the family or do you seek a second or permanent home? Other questions you need to ask yourself:
It`s important to consider the practicalities of owning a home in Spain and how much time and money you are prepared to spend on your Polop property. Upkeep costs are a key consideration, especially if you are on a development with shared amenities, for which you will pay monthly service charges.
How to buy a property in Polop
Tips when buying property in Polop
Five good tips when buying property in Polop that will help you understand the process, and to be prepared.
#1 Independent legal advice
If you are seriously considering buying a property in Polop you need to start looking for a lawyer to
represent your interests throughout the transaction. If you have a lawyer in place – and the funds to buy, then an estate agent will consider you a serious buyer which may also help you when negotiating the final price.
#2 Costs of buying a property in Polop?
Buying costs it’s typically 11 to 14 per cent for the purchase or closing costs, depending on the region of Spain, and the type of property. If you have a Spanish mortgage you need to add an additional cost of 2 to 4 per cent.
We recommend you have your finance in place before you go and view properties in Polop, so you won’t lose out because the process is not a quick one. The mortgage market in Spain is quite traditional in the sense that having the right contacts is crucial if you want to get the best deals. The lenders all use what is known as a debt-to-income calculation as the basis for deciding whether applicants will qualify for a mortgage. We always recommend getting a non-binding offer from Morgage Direct, and you can read more about them here.
#4 Transferring your money abroad
Currency exchange is something that buyers often leave until the last minute when purchasing an overseas property, when in fact it should be considered much earlier. Buying abroad will almost always involve a transfer of money between currencies, meaning that if you skip your research and/or arrange a transfer through a high street bank, you could end you up paying over the odds in fees and poor exchange rates. Using a specialist currency company will ensure you get the support and expertise you need, as well as a competitive exchange rate. We always recommend getting a non-binding offer from Currencies Direct.
#5 Costs of being a property owner
The running costs of your Spanish property will depend upon the type of property that you buy and whether or not you become a fiscal resident of Spain. However, all properties are liable to council tax, IBI (Impuestos de Bienes Inmuebles). If you buy on some estates or urbanisations you will be liable for Community Charges (Cuota Comunidad de Propietarios), which are for the maintenance of the estate or the care and maintenance of the common parts of a block of flats.
If you are non-tax resident in Spain then you will have to pay an annual tax (Renta) on your property, as if you had made a profit from renting it out (even if you have not). This is a nominal tax but must be paid annually. Then you have the water and electricity, building and contents insurance and general maintenance.
Destinations to buy property Costa Blanca
Alicante – Altea – Albir – Alfaz del Pi – Benissa – Benidorm – Benitachell – Calpe – Costa Blanca – Cumbre del Sol – Denia – Finestrat – Javea – Javea Arenal – Javea Old Town – Javea Port – La Nucia – Moraira – Polop – Teulada – Villajoyosa