According to the National Institute of Statistics (INE) in Spain, the value of the real estate market has increased in the last years. Investors who are considering opening a company in Spain in the real estate sector should know that this industry continued its growth in the first five months of 2018, increasing by 13% compared to the same period of the previous year. Our team of specialists in company registration in Spain can advise on how to set up a business in this sector.
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Types of real estate agencies in Spain
Prior to starting the procedure of company formation in Spain, investors who want to set up a real estate business should consider the types of activities that they want to provide to buyers – local or foreigners, and the type of real estate agency they want to start. Amongst the types of real estate agencies that operate in Spain are the following:
- local company incorporated following the standard registration requirements, which will employ real estate agents who are authorized by the local institutions;
- foreign owned real estate agency, where the investors will typically hire local real estate agents who are familiar with the legislation in the country in which a person wants to purchase a property;
- real estate agency that is part of a real estate network – this is of help when, for example, a local real estate agency has a client who wants to purchase a specific type of property that is not listed with the company, but which can address the request to a partner agency that has real estate properties similar with the ones wanted by the client;
- corredores – a type of real estate service that is delivered in the rural regions of the country, with the assistance of a local broker.
Bookkeeping in Spain is a necessary service for a company with activities in this country. with their help, all the financial transactions of the respective company can be registered. An accountant with experience in this field can provide you with precise information about the procedures involved so that you can get an idea of what services you can receive. Contact us today if you want to learn more about bookkeeping.
Why invest in the real estate sector in Spain?
Our team of consultants in company registration in Spain can offer assistance when investing in this industry, but it is important to find out that the market expanded for both mid-market properties as well as for prime real estate properties. In the first case, the market expanded by 29% in 2017 (compared to the previous year), while in the latter- which is represented by properties with a value above EUR 900,000, increased by 34%.
At the same time, 2017 represents the year in which the number of sold properties reached the level recorded in 2008, prior to the beginning of the financial crisis. Businessmen are invited to contact our team of representatives in company formation in Spain, who can offer in-depth information regarding the legislation addressed to this sector.