Buying a house in Fuerteventura
Buying a house in Fuerteventura
Why buy a house in Fuerteventura? Beyond the more "obvious" reasons, a wonderful climate all year round, a lower cost of living than in Italy and therefore also a better quality of life and the beauty of being able to live on a wonderful island in the midst of 'ocean but not too far from Italy, are the facilitated taxation - due to the ZEC (Zona Especial Canaria) which benefits foreign investors.
Even those who want to buy a property (tax at 6.5% and 5% for new properties), and the willingness to seize the right moment for a real estate investment in times of crisis make them choose to buy a house in Fuerteventura is a sentiment to follow and to pursue precisely in these years.
The economy of the Canary Islands, based mostly on the real estate and tertiary sectors, which (currently) represents more than 80% of the GDP, makes this archipelago, still today and despite the European economic crisis, a great opportunity of real estate investment.
An investment choice that continues to receive capital from Scandinavian countries, Russia and, albeit slightly decreasing in recent years, also from France, Germany, Ireland and the UK. This means that the Canary Islands have not only maintained a certain ferment as regards the real estate market but that the services of the Islands (health, communications, transport, etc.) have absolutely not stopped and have indeed made this area even more attractive .
Therefore, looking more specifically at the real estate market of Fuerteventura, it must be emphasized that the island, having undergone a great tourist development, especially in recent years, oriented towards low cost choices, represents a valid destination for investments even if relatively unexplored and therefore without a homogeneous benchmark.
In any case, in principle, as regards the average price per square for the island of Fuerteventura, it is around 1000 euros (depending on the area and the location of the property); while, for the average purchase prices, they do not differ particularly from those of Lanzarote or Gran Canaria and therefore range from a minimum of 55,000 euros up to approximately 1,350,000 euros for a large apartment. If you then want to buy a large villa located in an optimal position, then you will have to invest more than 250,000 euros as a minimum.
Finally, to provide a small overview of the bureaucratic and legal procedures for buying a house in Fuerteventura, we recommend, first of all, that you entrust yourself to a real estate agency or an office that can provide legal assistance, especially at the time of registration of the property, of the purchase, of the deed, etc.; then, to consider that you will need to be in possession of the N.I.E (the Número de Identificación de Extranjero) and, even better, a current account in a Spanish bank (especially if you intend to request financing for the purchase) to easily remedy the real estate purchase and sale practices.
