DHRE file

Marbella, 2016 r.
www.dreamhouse-realestate.com


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DREAM HOUSE REAL ESTATE is specialising in selling and renting high-quality properties in southern
Spain i.e.: in Marbella, Mijas, Estepona, Sotogrande and other Spanish coastal areas. For the client special
request, we may also offer properties in Canary Islands and Mallorca. If you are looking to buy or rent a
property in one of the best places on the Costa del Sol, we can offer you a wide selection and a professional
service.
In addition, as one of the few real estate companies we offer you the opportunity to buy and rent a property in
a Joint Ownership Scheme. Here you can ask for shared ownership properties and find a mortgage to buy
them with, all in one process.
Furthermore, for investors we could prepare a proposal of Investment Portfolio of carefully sellected
properties. Those will ensure a stable growth of a yields of approximatelly 5% to 6.5% per annum. Currently,
we offer a diverse selection of real estate in the center and in the western part of Marbella, including
neighbourhoods as Nueva Andalucia, San Pedro, Puerto Banus, Guadalmina, La Quinta and Estepona.
We are convinced that we can find the ideal home for you or present numerous investment opportunities.
We cooperate with the members of LPA - Leading Property Agents of Spain
Leading Property Agents of Spain is an association of top real estate agents with time-tested reputations
along the Costa del Sol. All members are professionally qualified real estate agencies and some of the longest
established businesses of the coast.


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Dream House Real Estate is specialized agency both in real estate and yachting on the Costa del Sol. We
have expanded also our services to the Yachting Sector. We work along with an experienced yachting
brokerage team and we can provide our clients with the best service in selling, charter or buying of yachts.
Our aim is to represent our client’s interests making sure that they are receiving the right expertise for every
particular project.
v WE OFFER:
v OUR AGENCY IS A RELIABLE AND A COMPETENT PARTNER WILL ACCOMPANY YOU
IN THE WHOLE PROCESS OF FINDING THE IDEAL PROPERTY OF YOUR CHOICE.
v FROM NOW ON YOU ARE ONLY A STEP AHEAD OF MOVING INTO YOUR DREAM NEW
HOME.
v OUR STABILITY, RELIABILITY AND PROFESSIONALISM ARE THE BENCHMARK OF
OUR COMPANY POLICY.


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REGION COSTA DEL SOL

Marbella is a cosmopolitan place that perfectly combines with traditional Andalucian atmosphere and its
great hospitality. Offering a great choice of major European golf resorts, high-end and fashionable boutiques,
busy nightlife and beach clubs are among some of the attractions that you will find in Marbella. Not
mentioning the best weather conditions in Europe points out Marbella as a top destination.
Andalusia is the richest in its culture and art region in Spain. Its old history and Arabic invasion has left
behind a wealth of artistic heritage. Places as the Alhambra in Granada, old town of Seville, the Great
Mosque of Cordoba and the Giralda Tower are all worth seeing and World Heritage sites. However, the
majority of its small towns and villages also bear witness to the peak of Andalusia‘s artistic heritage over the
ages.
LIFE IN SPAIN
v The health care system

For all EU residents, you are enabled to benefit from Spain’s public healthcare system.
v Schooling options
There are many very good Spanish and international schools in Marbella. Hence the dilemma you might face
is to which one to send your child- Spanish school (free of charge) where your child will learn fluently the
language, or to international school which is a subject of fees.


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v N.I.E. Number

Anyone who is considering to buy a property in Spain or who decides to live in Spain is obliged to obtain a
N.I.E. number (número de identificación de extranjero). The process to acquire the card its very simple, but
its necessary, as the number will be required for the identification for multiple transactions which you shall
probably undertake.
GOLF

For twelve months a year one can enjoy both the golfing and the sun in Andalucía. With approximately 120
golf courses within any of the eight provinces of the local communities you can enjoy your favourite sport.
Not mentioning the world-class courses designed by some of the legendary players and the world's most
prestigious designers.
AIRPORTS in ANDALUCIA
The region of Andalucia has in total 6 airports which serve both as a regional gateways and also serve the
needs of private aircrafts. The airports have an importaint role in the regional infrustructure, as Andalucia
became a major tourist destination in Spain serving over 15 million passenger arrivals a year.
MARBELLA HOSPITALS

There are three main hospitals in Marbella Costa del Sol : USP (private), Costa del Sol hospital (public)
and Hospiten (private). All of them offer modern medical equipment, emergency units, and delivery
facilities. The hospital staff are used to handling with foreign patience, so they all offer translators or have
multilingual doctors, nurses and assistants.
NIGHT LIFE

Marbella is well known for its rich nightlife, so that it everyone can find a place to suit his taste. You can find
very big nightclubs with various dance floors, VIP rooms for private parties, restaurant areas and bars for a
great night out. Come and enjoy your nightlife in Marbella.


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SPA AND ARABIC BATH

There are number of Spas and health centres that offer a variety of treatments and therapies which are mainly
based on water. The demand for such services is constantly increasing, therefore more SPAs are being
opened. This is one of the factors why people are choosing their holiday destination that also offers these
services. Hence they can complete both their leisure time with benefits provided by relaxation spa treatments.
In addition, there are plenty of other attractions at your disposal, such as polo, horseback riding, ocean
expeditions, surfing.
FINANCE

In order to obtain a property mortgage for non-Spanish residents it is required to have between 30% - 40%
input of the property value. While Spanish residents can obtain a loan of up to 80% of the property value
for the acquisition of property in Marbella. It is considered by the Spanish banks that 33% of your annual
income should be equivalent to the total repayment of a said year for mortgage repayments. Those 33%
ought to be calculated after the deduction of any other loans, repayments or mortgages you might have.
Dream House Real Estate can assist you in getting the mortgage for property acquisition in Marbella.
If you would like to obtain a higher percentage of financing, there are cases when you can get a mortgage of
up to 95% to 100%. To find out more about such properties please contact us. Furthermore, most of Bank
Repossessions properties in Marbella can offer a loan of between 80% to 100%.
In order to obtain a feedback form the bank to check the possibilities of financing, the following
documents are required:

v Copy of your latest tax declaration or proof of income from an accountant.
v Statements of the last 3 months from your bank account.
v Details of your bank in your home country.
v Photocopy of your passport.


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LEGAL
v Get a Lawyer

Getting a lawyer who speaks your language is the crucial first step. A good lawyer can assist you throughout
the whole process of purchasing of your property.
From ensuring that your purchasing contract is accurately written, through negotiation of payment terms, and
also taking care of the title search, confirming that your house is registered in the property registry. A lawyer
is a kind of security that can prevent you against future problems that may arise, and is relatively not
expensive, a lawyer fee costs around 1-1.5% from the purchase price of the property, plus a VAT
currently charged at 21%. It is a common practice that a lawyer will ask for a pre-payment to cover his fees
and expenses, it is so called “provision de fondos”.
v Deposit

After finding the house of your dreams, the next step to be taken is to secure it by paying a deposit. The agent
takes the deposit of €6.000 which is the held in clients account. Subsequently a further tranche of around
10% is paid directly to the seller within a week of reaching an agreement between the seller and the buyer.
v Local Community Costs

If the property of your choice belongs to the residential complex or an urbanisation, you will then
automatically become a member of that Community of Property Owners, and become responsible for general
maintenance, gardening etc. Therefore, you should make sure that all fees are paid on time, and that you are
aware of how much are the annual community costs.
v Title Search
Subsequently your lawyer shall check if there are no outstanding mortgages or liens against the property at
the local Property Registry, or whether it has been embargoed for non-payment of a mortgage or taxes. Next
you will receive a copy of the entry for the property in the registry books. Such document is called “Nota
Simple” and it provides detail description of who owns the property. It might occur that some properties are
held in the name of an offshore company, this used to be a common practice as it avoided Spanish transfer
and inheritance taxes. It might happened that you will receive two “Notas Simple”, the first one at the
beginning of negotiations of the purchase contract, while the second one just before you sign the contract.


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v Check the Town Hall
Spanish properties are subject to an annual municipal tax, so called IBI, hence the seller ought to provide the
buyer with up-to-date receipts, that will indicate the annual exact amount of such tax, but also the “Valor
Catastral”, which is the market value of the property as assessed for the tax purposed, and essential for your
annual tax return. There also might be some additional charges, for rubbish collection or other services.
v Costs of Notary and Registry
The fee charged for notary and registry are estimated at approximately 1.5% of the purchase price.
However, as the purchase price increases, the costs shall be lower, as they are not calculated as a percentage.
v Umowa lub "Escritura"
Around a month from placing a deposit, the completion of the sale transaction will take place. The contract
must be in Spanish, however if requested you can obtain a translation. A contract of legal property purchase
in Spanish is called "Escritura de Compraventa" and is signed by both parties in the presence of a Spanish
Notary Public who will keep the original copy of the contract in his files. The contract ought to describe the
property, its location in detail, as well as, the identity of the purchaser and seller. If the purchase of the
property is financed with a mortgage, then the bank representatives are present, in order to pay and sign the
mortgage. The final step is to take your copy of the "Escritura" to the Property Registry and have it officially
registered, at which time you will obtain your "Escritura Pública", the title deed.
After completing all the steps mentioned above you are now a legal owner of the property, well done!
v Mortgage

The client should be 25 years old or over, in full time stable employment, or have been self-employed for a
minimum of 3 years. The amount of how much you can borrow will depend on how much income you
generate, and what financial commitments you have. Generally, you can borrow of up to 60%-70% of the
purchase price. However, there are also properties for which you can get 100% of financiang, these are
often bank repossessions.


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The fee for the valuation is approximately €400, but may vary in accordance with the size of the property.
Land Register should also be checked, while an adequate certificate issued for the corresponding entry to
check on the possible existence of mortgages or liens. Generally speaking all associated taxes and fees equals
to approximately 11 % of the property purchase price if you have a mortgage.
Notary fees are established in accordance with the total amount of the loan. For example, if the mortgage
is between €150.253 and €601.012, the notary fees will be €0,5 for every €1000 .
The interest rate in Spain vary between 2.5%-3.5%.
Land Registry Fees
The mortgage must be registered with the Land Register and, again, the fees depend upon the amount
of the loan. For example, if the mortgage is between €150.253 and €601.012, the land registry fees
will be €0,3 for every €1000.
Administration Office
Otherwise known as the "Gestor" the administration office handles all the necessary processing of official
documents. Their fee is approximately €250. They will pay all the taxes on your behalf,
as well as undertaking the above-mentioned registration in the Land Register.

Insurance
This is established according to the minimum valuation received. It is obligatory to take out an insurance
policy covering fire and Third Party responsability. it is also obligatory to take out a life insurance.
Taxes
There is a tax required on all legal documents which is calculated according to the amount of the mortgage.
The expenses relating exclusively to the bank are the commission for opening the account (normally 1%)
plus the interest on the loan.


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To apply for a mortgage the following is required:
v Copy of your latest tax declaration or proof of income from an accountant.
v Statements of last 3 months from your bank account.
v Details of your bank in your home country.
v Photocopy of your passport.

v Plus Valia - Municipal Tax

It is a Municipal Tax known as the Plus Valia, which is calculated on the difference in value of the property
now and the last tie it was transferred. This varies according to the time elapses since the last transfer.
According to Spanish law ‘Plus Valia’ should be paid by the seller, however the practice of transferring all
taxes and fees to the buyer is mostly common in resort areas as Costa del Sol. At this point your lawyer can
negotiate. In any case, the purchase contract should state whether the buyer is paying all fees and taxes.
Furthermore, if you are buying for an individual you will be charged a transfer tax that is a subject to
property purchases. If the purchase price is below € 400.000 the tax is 8%, then increases to 9% for
amounts between € 400.000 and € 700.000 and 10% for amounts over € 700.000.
If you are buying from a promoter (resident) the tax is VAT and is 10%, but in these cases there is an
additional 1,5% stamp duty. However, if you are purchasing from a non-resident, Spanish law requires you to
withhold 3% of the purchase price and pay it to the Spanish tax department, 'Hacienda', as a guarantee of
payment of the seller's Capital Gains Tax. (If the tax amount is lower than the deposit, the seller can later
claim the difference from Hacienda).


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CONTACT

Katarzyna Sosnowska, LL.M.
Business Owner
T +48 607 718 667
E k.sosnowska@dommarzen-nieruchmosci.pl
E k.sosnowska@dreamhouse-realestate.com

Marta Nowakowska, MSc Real Estate Investment
Business Owner
T +48 506 791 811
E m.nowakowska@dommarzen-nieruchmosci.pl
E m.nowakowska@dreamhouse-realestate.com

Katarzyna Sosnowska gained experience in the Department of Infrastructure and
Project Finance, as well in the Department of Energy Projects and Construction in
one of the most well-known international law firms in the world – CMS Cameron
McKenna. She also worked for the company – Intersperience in UK and for
Spanish law firm – CAVEAT Abogados S.L.P. in Seville.
As a lawyer and an expert together with the Lower Silesian Chamber of Commerce,
organizes and conducts international conferences. She cooperates with Women’s
Planet in relation to the international training projects. She is responsible for
business development, investigation, search and assessment of business
opportunities and investments projects. Furthermore, she constantly cooperates with
media, and is the author of many publications.
She graduated from law at the A. Mickiewicz University in Poznan, at the Europa-
Universität Viadrina in Frankfurt (Oder) in Germany and at the Universidad de
Sevilla in Spain, as well as finished postgraduate studies at the Warsaw School of
Economics. She is a PhD candidate in the Faculty of Law and Administration at the
University of Szczecin in the field of investment within the Public-Private
Partnership.
She speaks fluently Polish, English, German and Spanish.
Marta Nowakowska has graduated from MSI Real Estate Investment at Cass
Business School in London. In addition, she completed undergraduate studies
(Bacherol of Arts) from the Hispanic Studies at Queen Mary University of London
and Universidad de Valencia in Spain, and she obtained BA (Bachelor of Science
1st Class) of business administration and statistics at the London South Bank
University in the United Kingdom. She has completed a number of projects within
the real estate industry, mainly focusing of creating investment portfolio, examining
the economic factors that affect the prices of properties, and formed various
calculation of the return from investment over the years.
She gained professional experience working for the English branch of Mercedes
McLaren Group in London, being responsible for the preparation of events for the
VIPs, moreover she was involved in organization of Miss World Contest in Poland
in 2006. For the last few years she has been successfully running a company both in
Poland and in London specializing in the online sale of luxury women's clothing
and furs in the global markets. In addition, she actively participates in international
fur and fashion fairs and exhibitions.
She is fluent in Polish, English and Spanish.

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