Lifestyle

If Spain is characterised by anything , it is for the good weather with over 300 days of sunshine per year. You will find good blue flag beaches on the Costa Blanca and the friendliness of the people who live in cities like Alicante and Torrevieja, Guardamar del Segura, Orihuela Costa, Rojales, Benijofar. By Acquiring a south facing property for sale in Benimar, Rojales, Torrevieja you will enjoy the sun and beach in Spain and the Costa Blanca. Do not miss the opportunity to purchase a south facing property for sale in Benimar, Rojales, Torrevieja so contact us now at Vincent Real Estate.

Benijofar - Alicante

Benijofar is a typical Spanish village in Alicante, located in the Vega Baja Valley, Costa Blanca South, Spain. There are many local towns & villages surrounding this area, so it’s impossible to be short of amenities such as bars, restaurants, shops, supermarkets & more all within walking distance.

If you are holidaying in Benijofar, the beaches of Guardamar, La Marina and Torrevieja are within easy driving distance, the water park in Ciudad Quesada is also close by, historic Rojales is near too, golfers can make the most of the La Marquesa golf course (Rojales/Ciudad Quesada), and the La Finca golf course with 5 star hotel & spa, at Algorfa. All within 30 minutes of both Alicante and San Javier airports

The origin of the name Benijofar is Arabic, with a mix of Moor and Christian, very usual in theMurcia and Valencia regions - Bani (pronounced in Arabic asBeni) meaning son and Jofar from the Castellano word alijofar meaning pearl. Throughout the 18th Century Benijofar became established as an agricultural community and grew in wealth and prosperity. The agricultural prosperity stems from the villages location in the famous Vega Baja valley and also its proximity to the River Segura for irrigation.

These days Benijofar has a good selection of shops, bars and restaurants (some English and Dutch). Places of interest include the parish church of Saint James, and the cave dwellings just outside the village in Rojales housing art displays by local artists.

The Spanish are well known for their local town Fiestas, and Benijofar is no exception known as the Saint Jaime Fiesta (celebrating St James), which is held over a 7 to 10 day period in July, and as with all Spanish villages, Benijofar included, there are lots of other fiestas held throughout the year including Santa Semana (Easter) and Three Kings in January.

The main event of the Benijofar fiesta has to be the parade, that goes right through the village center, past the square and church The fiestas are also well known for their lively nightlife including ‘Barracas’ which are outdoor music venues which often go on until 6 or 7 O’clock in the morning. Prepare for a few late nights dancing in the streets of Benijofar.

If you are looking for a cosmopolitan mix of nationalities while maintaining its traditional Spanish roots then Benijofar, surrounded by Lemon and Orange Groves has to be one of those rare places.

Of course not forgetting that Benijofar is also the location of Vincent Real Estates head office.

Benimar - Alicante

Benimar is a large urbanisation linking the Spanish village of Benijofar and the town of Rojales, located in the Vega Baja valley,Alicante, Costa Blanca South. Ideally located 30 minutes from both Alicante and San Javier airports, and under an hour from the location of the Paramount Pictures Theme Park.

The urbanization is very popular, with many nationalities being represented including Dutch, Belgian, English and Scandanavian.

With a great range of bars and restaurants people travel from many of the local villages to sample some of the variety available as well as enjoying the lively atmosphere.

The area is now even more popular following the investment and ongoing plans of the local Benijofar Ayuntamiento (town hall) which has brought into reality a public barbecue area and lovely lake and beach setting on the doorstep, with further development being carried out to link these two public facilities together.

Two new supermarkets in 2011 were the missing pieces to ensure all amenities were available without the need for a car.

Benimar offers the best of both worlds with many nationalities being represented while still being only a short walk from the realSpainof villages such as Benijofar, Formentera del Segura and Rojales. Not forgetting of course the famous beaches of Guardamar del Segura a 10 minute drive away.

Guide to Buying

AIPP Guide to Buying Property Overseas

Being members of the Association of International Property Professionals allows Vincent Real Estate to offer a link to the AIPP buyers guide. Please click on the link below to download the guide giving detailed information regarding purchasing property overseas

AIPP Guide to Buying Property Overseas

Purchasing Costs in Spain

In addition to the purchase price of a property, the following costs must also be budgeted;

• Legal Fees – Circa 1000€+ IVA
• Property purchase tax (Resale property)
  • Currently 10% - Resales in Alicante
  • Currently 8% - Resales in Murcia
• IVA (New Build property)
  • Currently 10%
• Stamp duty (New Build Property) – 1.5%
• Notary Fees – dependant on Notary and value of property (average 1500€)
• Additional costs including utility transfer, SUMA registration, Catastral registration, community registration etc. – average 450€

• If Spanish finance is required we recommend budgeting an additional minimum 5.000€ to cover finance set up fees from the bank.

A general rule of thumb is to add 13% to the price of the property. However, with property under the value of 100.000€ the cost percentage will increase.

Reservation Contract

This is the first document you will sign reserving a property and acting as a signed receipt for any monies paid with respect to that contract. This document is generally referred to as a 'Formulario Reserva' and confirms your commitment to purchase the property. Always ensure that this document includes the clause 'Subject to Legal checks' as his will ensure that your deposit that has been paid will be refundable if there are issues or debts on the property that cannot be resolved.

Legal Issues when buying a property in Spain

The Lawyer will take care and assist you in all the different steps involved in the transaction. There are many excellent English speaking Lawyers in Spain. Choosing the right Lawyer is your guarantee that Spanish legal requirements are met, the property is registered in the vendor's name and that it is free of any mortgages, charges, encumbrances, debts or other liabilities. Clear everything with your Lawyer. They will negotiate and discuss the purchase terms with the seller's solicitor. The terms should not be limited solely to price but should cover in detail all your requirements like the completion date, the form of payment, etc.

Notary (Notaria)

Public official appointed by the Spanish government to witness the signing of all legal public documents. They put on the public record the fact that the title deed recording the sale/purchase has been signed in their presence and understood by the parties concerned. When the Escritura (Deeds) is signed in front of the notary either the purchase price is handed over to the person selling the house or the seller confirms that the money has already been handed over. The original signed document is retained by the notary who will apply for a formal change in the land registry. The Notary also ensures that the work of both the buyer and seller's lawyer has been carried out correctly prior to the title deed changes.

Urbanisation and Community Fees

Controlled by the committee of owners and covering the running and maintenance costs of shared facilities which can include private roads, drains, lighting, private water supplies, gardens, swimming pools etc. This can be as little as 60 euros per year or as high as 2000 euros, dependent on the facilities within the urbanisation your property is located. There are also properties that do not belong to an urbanisation, in which case the community fees do not exist.

Local Rates – Patrimonia

All non-residents have to pay wealth tax, 'Patrimonia', based on the amount on the Escritura Publica or the Valor Catastral, which ever is the highest value. Vary. 0.2% is typical.

Property Taxes in Spain

The local town hall charge IBI on owned Property (tax Impuesto sobre Bienes Inmuebles), which is an annual real estate tax. This local tax varies and is based on the Catastral value of the property.

Insurances

Fire insurance is compulsory by law when taking out a mortgage. Comprehensive household insurance is available to protect your home and contents. Life insurance can be taken out to guarantee payment of the loan in the case of death.

Telephone

There are many different companies offering landline and mobile telephone systems in Spain. The major company being Telefonica. However, many people now rely on mobile networks and Wifi which are available in pay as you go and contract options.

Water and Electricity

Utilities have a standing charge and the charges for consumption are in addition to this. These will generally be set up on standing order when you purchase the property.

Tax on Rental Income

Britain and Ireland have a double taxation treaty with Spain. Tax is paid on the declared income from the property and your rental income must also be declared to the inspector of taxes in Britain or Ireland.

Foreign Identification Number (NIE)

Foreigner's Identification Number. All non-residents require a NIE. You need to obtain this in person at the foreigners department at the National Police headquarters. Your agent will assist you with the procedure. This number is required before the purchase of any property in Spain.

Plus Valia

A local tax, usually paid by the vendor, calculated as a percentage of the difference in the increased (ratable) value of a property since it was last sold.

Don’t leave your currency until last! We advise speaking to a specialist currency company before you even start looking at property online. After all, how can you set a budget unless you know the sort of exchange rate you’ll get?

It’s vital to think carefully about who you choose to transfer your money.

There are three main reasons for that. Firstly, you are transferring a lot more money than when you pop over for a holiday. You want the best rate possible, but you also need to eliminate any risk from the transfer process.

Secondly, when you are trying to put down a deposit on a property, or you’re in the notary’s office about to complete, you need a currency specialist that best understands property transactions. That probably won’t be your high street bank. If they’re at the end of a phone, not hiding behind an app or website, that’s even better.

Thirdly, you need a company that can protect you from currency volatility. The process of buying a home in Spain takes at least a few weeks. That’s perfect for planning the patio furniture and inviting guests to the housewarming, but also means that the value of the pound can change significantly. Unless you secure your exchange rate when you sign the contract, you won’t know what it will cost when you pay the balance on completion.

Our recommended partner is the solution to all of those potential problems.

Over the years, we have come to trust Smart to give the best possible service for property buyers (and sellers) in Spain. We would not choose a currency partner who didn’t – after all, your property purchase depends on it. Here is why we think you should use Smart.

M&S INTEREALTY S.L

• Conveyancing services
• Professional legal advise
• Fiscal representation
• Financial advice & mortgages

M&S Interealty is a consultancy firm that deals with conveyancing management, advice and all the necessary formalities for the safe purchase and sale of properties in Spain.

For more information email: interealtys@interealtys.com