Spanish Property Glossary – Land, Plots, Building Sites, Fincas

The term finca is used in Northern Spain to refer to a field or plot of land.  There are two main classifications of finca.

1. Finca Rustica This is land that is zoned for agricultural purposes only.
This land can be used for recreational and/or horticultural purposes.
You cannot build a house on this land, although you may be able to construct a small building such as a shed or maybe even a cabaña (cabin). The rules governing up to what size such a building can be are governed by the local council or ayuntamiento. Commonly the size would be in the region of 2 metres by 3 metres.

2. Finca Urbana or Edificable. This is land that is zoned for building.
If you are buying land as a site to build a house, it must be ‘edificable’. The size up to which you can build is regulated by the local council (ayuntamiento) and is related to the size of the plot, i.e. the bigger the plot, generally the bigger the house you can build.
You, or your agent or representative, can consult the relevant Town Hall (Ayuntamiento) regarding the building regulations of the area. This information is in the public domain and is available freely. You, or your representative, can also request an official certificate of build  (Certificado de Edificabilidad) relating to a specific finca so that you know exactly what requirements you would need to comply with in building before you even commit to purchasing the site.

Some other Spanish terms you may come across when looking at land are

parcela (plot)

terreno (land)

Other related terms  Catastro, Registro Catastral …. more info coming soon in a separate blog

Check out http://www.spanishpropertynorth.com for more information on Spanish Property terms, specifically relating to Asturias and Northern Spain

The Financial Crisis and The Asturian Property Market

Well, what else is there to talk about these days other than the global financial crisis?  Strange times indeed.

As regards the real estate market here in Asturias, it hasn’t been affected as badly as other regions of Spain as prices weren’t as inflated here to start off with.  Asturias was never part of the overseas property boom that transformed the southern Costas.  However, there has been some impact as falling consumer confidence is slowing worldwide markets.

Let’s not forget, however, that what constitutes a threat to one man is an opportunity for another.  While property prices in general are maintaining well in Asturias, there are exceptions.  New-build apartments in the cities for example.  Or specific properties where the vendor is in a hurry to sell and needs to buck the trend of a slow moving market by offering a truly sensational price.

We currently have a couple of properties on our books at http://www.spanishpropertynorth.com that make me just wish I had some spare cash in the bank myself to capitalize on this unique moment in the market.  A charming, traditional country house, for example, just built by a property developer who is now facing a short-term liquidity crisis. Result, it’s now on offer at two thirds original price! (At least until his cash-flow resolves itself.)

We also have a commercial property on offer at just over half-price, as the vendors need to sell urgently, owing to personal circumstances that unfortunately must take priority over financial considerations at this point in time for them.

We’ve also noticed that the number of overseas buyers wanting to get away from it all and to escape to the peace and quiet of the countryside and a less commercialized way of life has increased, if anything.

When the global financial markets are crumbling all about you, what better escape than a place in the country with your very own veg patch and chickens? If you can’t rely on the banks or the governments, then self-sufficiency must be the way forward!

Spanish Property North

Inspired to share the delights of Asturias and Northern Spain with other discerning overseas visitors and also to give them the benefit of our experience in buying property over here, my partner and I recently set up the website http://www.spanishpropertynorth.com

On the site, we offer a selection of property for sale in Asturias in Northern Spain and our aim is to assist overseas buyers through the, sometimes complex, process of purchasing property abroad.  Having first-hand experience from the other side of the process is invaluable in helping us to understand how to make it all as easy and pleasant as possible for our clients.

Working with a selection of trusted estate agents and private property owners across the region, we are able to showcase a wide range of property, from cheap property for renovation to palatial mansions to commercial property for those looking to earn their living here.

We are also collaborating with owners of holiday rental properties as we have been struck by the scarcity of good holiday accommodation in the region being made available to English speakers.  There is, in fact, lots of great accommodation available, the trick has been finding it and booking it if you’re looking from abroad.   To this end, we are selecting holiday rentals that have appeal for the overseas holiday maker, advertising them on our site, and managing the booking process for them to ensure that its all straight-forward and hassle free for you, the holidaymaker.

Another aim of the site is to inform the visitor regarding this wonderful region and to ultimately provide a useful online resource for anyone planning a holiday or a move here.  Again, the number of good English-language resources providing clear information about the area is limited and we think we can provide a really useful addition to the material currently available online.

It’s going to be a big task – Asturias and the Costa Verde have so many attractions and there’s so much fascinating stuff to chronicle that I think it may in fact be a task without end!  But it’s proving to be a wonderful challenge and a great learning experience in itself.  Not to mention a great excuse to make sure we get out there and visit all that the region has to offer.

Equally, if anyone else has any suggestions of must-see places to visit or things to do etc I’d be really interested to hear from you.