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ARCHIVED - Pandemic hits Murcia property sales hard with international travel at a standstill
The loss of non-Spanish buyers reduces the demand for housing in the islands and Costas of Spain
30 per cent fewer sales were registered in the Region this January than in the same month last year
Data released on Wednesday by the statistics unit of the Spanish government appear to show how the anti-pandemic travel restrictions have affected the property markets in different parts of the country in different ways, with those where a high proportion of purchases has been accounted for by non-Spanish buyers in recent years generally reporting a far more significant decrease in activity than the national average.
The nationwide figures show that during January of this year the number of residential properties sales registered in Spain was 39,753, representing a decrease of 15.4 per cent in comparison with the first month of 2020 – one of the last months in which no “coronavirus effect” can be observed.
However, this national total conceals a great deal of variation among different regions and provinces, and it is noticeable that the decrease is far more significant in areas where non-Spaniards are particularly active in property sales. In the Canary Islands, for example, a dramatic year-on-year fall of 52.2 per cent is reported, and elsewhere there are drops of 30.4 per cent in Murcia and the Costa Cálida, 28.4 per cent in the Balearics and 23 per cent in the province of Alicante, where the Costa Blanca property market depends heavily on UK nationals.
At the other end of the scale, the only year-on-year increases among Spain’s 17 regions are those of 4.9 per cent and 0.3 per cent in the northern Autonomous Communities of Cantabria and Navarra.
In the Region of Murcia the latest monthly total of 1,241 transactions comes on the back of a turbulent year, during which the first wave of the pandemic resulted in a year-on-year fall of over 60 per cent in May before the near-normality of the summer and early autumn led to several increases.
It is no surprise to report that the overall trend in property sales since early 2020 is a significant downward one, and the running 12-monthly sales total has fallen by 16.4 per cent since January 2020 to just over 14,000. However, by the same measure the Costa Cálida market can be said to have stood up relatively well to Covid-19, as the nationwide figure has fallen even further, dropping by 19 per cent during the same period!
staff.inc.ali
PALS Solicitor for the most trusted tax, conveyancing and inheritance advice in the Costa Cálida
Multi-lingual staff provide help for both residents and non-residents at the offices in Puerto de Mazarrón and La Manga
With over 20 years of experience in helping both residents and non-residents in the Costa Cálida with all of their conveyancing, tax, inheritance and family law needs, the team at PALS Solicitor have become one of the most trusted and reliable in the Region of Murcia.
The multi-lingual staff at the offices in Puerto de Mazarrón and La Manga del Mar Menor bring a wealth of knowledge and the wisdom which can only be gained through years of experience to the task of assisting you in a precise, efficient, measured and friendly manner, whether it is in managing your tax burden, completing the sale or purchase of a property, ensuring that you have a valid will to cover your assets in Spain or any other of the numerous obstacles and hurdles that living in Spain sometimes seems to entail.
The vision of PALS (Professional and Legal Solutions) is to offer the most inclusive tax and law services in Murcia, always providing clear and affordable advice in order to take the hassle out of what could otherwise be daunting paperwork and bureaucracy. The languages spoken by the experts at PALS include not only Spanish and English but also French, German, Dutch and Swedish, making them accessible to the vast majority of non-Spaniards with interests in the Costa Cálida.
The main services offered include the following:
Property law and conveyancing
PALS have dealt with countless property sales and purchases over the years, but their services regarding property are not limited to the conveyancing side. They can also help in finding the right property, arranging finance‚ securing an NIE number, opening a Spanish bank account, ensuring Due Diligence, overcoming the potential difficulties after Brexit (such as the requirement for British nationals to obtain a military permit if buying certain properties in the Costa Cálida!) and even helping to organize repairs and refurbishments once the property is yours!
And in completing transactions, PALS accompany you to the notary to check the deeds before signing, make all the arrangements for tax obligations to be correctly met, and register the deeds with Land Registry.
The team also have experience in dealing with the controversial mortgage rate “floor clauses” which were included in many loan conditions in the past, protecting clients’ interests against lending banks.
In addition, if you plan to rent out your Spanish home it is vital to make sure you do so legally, and again PALS can help you to put everything in place quickly, easily and with the minimum hassle.
Tax and Accounting
Taxation in Spain can be a complex topic, and at a time when the current Spanish tax system is regularly subject to review on issues surrounding Brexit, globalisation, and even the popularity of cryptocurrency, it is especially important to make sure that your affairs are up to date with the latest requirements.
PALS will take care of all the legalities regarding fiscal residence in Spain, legal tax obligations for both residents and non-residents and property taxes, guaranteeing that tax declarations are filed on time and no surcharges or other unpleasant surprises are incurred.
Inheritance and Wills
Arranging a will and inheritance for your estate in Spain is of the utmost importance, but many people fail to make proper provision for the distribution of their assets.
At PALS, making a will could not be easier: simply explain your preferences to the staff and they will produce the necessary document – in two languages if required – leaving you with nothing more to do except sign it before a notary.
Power of Attorney Service/Representation
If you plan to be absent from Spain for long periods, of if you simply want to do away with much of the stress of buying and owning property in Spain, why not let PALS help you?
Many clients take advantage of PALS’ "Power of Attorney," allowing them represent their interests.
Other legal advice
PALS also provide a wide variety of legal, accounting, fiscal and labour relation services including but not limited to General Contracting, Family Law, Evictions, Traffic Matters and Monetary Claims.
All of the above services are tailored to the needs of each individual client: contact PALS now and make an appointment to discuss how they can help you to enjoy your property and your life in Spain!
Main office : Avda. Doctor Meca, 107 Local 3 Puerto de Mazarrón Murcia 30860 - España E-mail: info-mazarron@palsolicitor.com Direct Line (00 34) 968 595 826 Fax (00 34) 968 595 827 |
Second Office : Gran Vía, MM, 49 (OPPOSITE Exit 12) 30380 La Manga
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