Spain introduces online aid for overseas property investors

Tuesday, August 02, 2011

Spain introduces online aid for overseas property investors

A new website which will help overseas property investors with the buying process has been launched by the Spanish government.

The online portal will allow foreign investors to more easily contact the Public Law Corporation of Land and Mercantile Registrars of Spain to ask any legal queries and avoid getting stung when it comes to negotiating Spanish property laws. Responses will be in English.

Secretary of state for housing in Spain Beatriz Corredor commented: "This means that foreign citizens will now have access, in a way they can more easily understand, to all the information regarding the physical, legal and urban development status of a property."

Spain is also participating in a pilot to launch a cross border electronic conveyancing scheme with the Netherlands. If the scheme is a success it will be rolled out across the EU. It is hoped that this will give buyers greater protection when it comes to undertaking real estate transactions outside of their country.

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A Place In The Sun