Note

Buying a flat in a Spanish city: what to check

§ 1What you buy

A flat is a private unit and a share of the common parts. The horizontal property law makes the owners’ meeting the governing body, and decisions bind all owners within the law. This page belongs to the chapter on buying property in a Spanish coastal town, and it lists the checks that matter in a city flat.

§ 2The community documents

Ask for the statutes, the budget, the last accounts, the minutes of recent meetings, the reserve fund and any special charge. The law requires a reserve fund of at least 10% of the last ordinary budget. A low reserve with big works planned means a bill. The legal process section explains debts attached to the property.

§ 3Tourist lets

The law requires the favourable vote of three fifths of all the owners to approve, limit or prohibit tourist rental. Check whether a vote has taken place and what the statutes say. Cities also regulate tourist lets, often strictly, and the section on renting and investing explains the layers. If a neighbour lets to tourists, ask how that affects noise.

§ 4Noise and light

City flats can be noisy: traffic, bars, neighbours, building sites. Visit on a Friday night and a weekday morning. Check the floor, the orientation and the windows. The location checks section explains how to check noise and the neighbours.

§ 5Condition of the building

Ask about the roof, the façade, the lift and the pipes, and whether an inspection report exists. Older buildings may need costly works that the community must fund, and the law makes necessary maintenance mandatory. A flat with a very low price in a building facing major works is not a good deal.

§ 6Prices

The registry reports twelve-month average prices in the largest cities of €5,534 per m² in Madrid, €5,045 per m² in Barcelona and €3,764 per m² in Bilbao, against €1,294 per m² in Zamora. These are averages, and neighbourhoods differ. The Madrid and Catalonia chapters discuss the regions.

§ 7Running costs

Add the community charge, the local property tax, insurance and supplies. A flat with a lift, a pool and a concierge costs more to run than one without. Ask for the real figures.

§ 8Resale and exit

City flats in busy markets tend to sell more readily than remote houses, but no market is certain. More on a village home compares a village house.

§ 9What we could not verify

We did not read the statutes of any building or the municipal rules of any city.

§ 10Questions to ask on site in this place

Ask neighbours about noise, parking, the community and the bills. Ask the community administrator, if there is one, for the statutes, the last accounts and the minutes of the previous meetings. Visit on a weekday morning and a weekend night, because a village and a city street change with the hour. Write down the answers and compare them with the documents your lawyer receives from the registry and the town hall.

General information only. This is not legal, tax or financial advice. Check your own situation with a qualified adviser.