Are you thinking of buying luxury homes in Costa del Sol, Malaga? Do you know the right process and steps to follow? This guide will help you buy luxury properties in Malaga. Malaga is dominated by famous destinations such as Marbella, which has undergone a majestic transformation in recent years. Continue reading this blog to get insight into buying luxury homes hassle-free.

Why Purchase Luxury Homes in Costa del Sol, Malaga?

Spain, especially Costa del Sol, is growing economically, as is its real estate market. Investing in houses or villas in major regions of Malaga can provide a continuous source of rental income, especially during high seasons like bank celebrations and public holidays. Also, we can’t avoid the significant stream of foreigners in Malaga. This area is famous worldwide for its beautiful beaches, attractive views, and substantial real estate market. Malaga has become one of the most renowned travel destinations in Spain.

Steps to Follow When Buying a Luxury Homes

Step 1: Consultation With a Real Estate Attorney

Seeking advice from a real estate lawyer can ensure your purchase is made safely and according to Spanish rules.

Step 2: Obtaining an NIE Number

To buy a luxurious house in Malaga, a foreign individual must obtain a Foreigner Identification Number (NIE). Also, the number should be issued by police authorities.

Step 3: Create a Spanish Bank Account

Opening a bank account in Spain is important to buying a property, mainly for legal and practical reasons.

Step 4: Extensive Research

It is essential to ensure you are making an informed decision and protecting your interests. Therefore, before buying, you should check the physical and financial condition of the property and investigate its location.

Step 5: Finalising The Purchase Of the Property

Below are the three main stages included in the process of buying and finalizing the property in Malaga:

• Reservation Agreement
• Individual Agreement
• Notary Public Order

Step 6: Registration of Property

This last step completes formally registering the property in your name. It is an easy process that costs a fair amount based on the property’s valuation.

Conclusion

It is an excellent opportunity to invest in the luxury homes of Costa del Sol, Malaga. Malaga is a rapidly rising city and one of Spain’s most important business centers. Suppose you are ready to buy or looking for luxury property in Malaga. In that case, you can contact Solx Properties for real estate services in Costa del Sol, which advises you legally and guides you in the right direction.