Buying property as a foreigner in Spain has become much more accessible and efficient thanks to the new technological tools applied to the property sector. Furthermore, the coronavirus pandemic accelerated the growth of this kind of technology applied to property intermediation and normalised its use. Consequently, it is more and more common in this day and age. We analyse the keys to these transactions in this post.
Online research
The use of online property platforms that offer a wide range of properties in different Spanish regions. These platforms provide detailed descriptions, photographs, and in some cases property virtual tours, which allow for a clearer vision of the available options without having to physically go anywhere.
Virtual and 3D tours
Virtual and 3D tours are valuable tools for foreign buyers since they allow a property to be explored in detail from anywhere in the world. You can now ‘walk’ throughout the property, examine details in each room, and have a more accurate idea of the layout and features.
Online advice
You can seek personalised advice from property agents and Spanish property market experts without the need to be physically present thanks to online communication tools. Anybody can schedule video calls with agents to show properties, reply to questions, and guide them through the entire purchase process.
Electronic signature and digital procedures
The electronic signature has revolutionised the way in which agreements and legal procedures are carried out. You can safely and legally sign documents online. This speeds up the process and reduces the need to send physical documents or travel to Spain to complete the transaction.
Security and transparency
Technology like blockchain is being implemented to guarantee security and transparency in property transactions. This offers foreign buyers greater confidence since it assures the information on the property is accurate and protected.