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Five Pointers When Buying Property in Malaga

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As southern Spain’s up-and-coming cultural capital, Malaga is attracting lots of attention from tourists and property investors. But although Malaga is the capital of the Costa del Sol, buying property here is very different. Here are five things to bear in mind if you’re thinking of buying property in Malaga.

Different property purchase practices

It might be in the same province as Marbella, Fuengirola and Nerja, but Malaga is a world apart when it comes to property purchase. To date, few foreigners have invested here and as a result, buying a property can involve unorthodox practices – for example, the owner may suggest there’s no need to sign a purchase contract. Advice from an independent lawyer is absolutely vital and the only way you can ensure your interests are fully protected.

Few English-speaking professionals

Malaga remains a very Spanish city with a relatively small expat population. As a result, few professionals involved in the Malaga property market – few example, lawyers, notaries and agents – speak fluent English. To make sure you purchase with complete peace of mind, contract the services of a Spanish professional who speaks fluent English so you understand every step of the process.

Local knowledge necessary

Malaga is Spain’s sixth largest city, home to nearly 600,000 people. When you’re buying property in Malaga, you need someone who can advise you on local practices and customs, help you find the best professionals such as a notary with experience in property purchases by foreigners or a reliable agent. And it’s also extremely helpful to be assisted by someone who can give you advice on where in Malaga to buy – there are many attractive districts in the city, but not all will be suited to your needs and/or budget.

Buy-to-let advice

As one of Spain’s fastest-growing tourist destinations, Malaga presents excellent buy-to-let opportunities. But these opportunities will only become a reliable source of income if you take expert advice on Spanish rental laws and the latest regulations regarding holiday lets in Spain.

After-sales advice

Once you become the owner of a Spanish property, other important issues come into play such as wills, inheritance and annual tax obligations for non-resident property owners. Take expert advice from an English-speaking lawyer with experience in Spanish property and non-resident laws to ensure your interests and investment are protected.

Andalusian Lawyers have been assisting foreigners with property purchases in Spain for over 25 years. Based in Marbella on the Costa del Sol, Andalusian Lawyers offer independent legal advice on all aspects involved in buying Spanish property. Contact us for information on how we can help you buy your property in Malaga.

Need more information on what buying a property in Spain involves? Download our free guide here.

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