Mission Statement: to assist the integration of foreign residents living in Spain
By Johanna Gardener •
Published: 26 Oct 2024 • 12:34
• 2 minutes read
If you’re looking to buy a house for less than €15,000, the good news is that there are over 1,000 property auctions across Spain that might have exactly what you’re looking for.
For those who want to stop paying that dastardly mortgage every month or are simply searching for a new home or development project, Spain’s Social Security organises property auctions, accessible for the majority of Spain’s residents offering a viable alternative to other types of property-buying.
Property prices as low as €11,000
You might be asking: how is this possible?
Well, these homes, repossessed from debtors by Spanish public entities, become available at affordable prices on the official Social Security website following repossession. Properties are offered either via auction or by settling debts via liquidation options. Across the country, more than 1,000 offers have been put onto the market in this way for prices as low as €11,000. Several options allow Social Security to settle overdue property expenses arising from unpaid debts, which is of benefit to the buyer as properties come at throwaway prices. Note: auctions do come with their own terms and conditions Members of the Executive Tax Collection Service or tax assessors are excluded from the scheme, for example and it is crucial to be very clear and vigilant about where the chosen property is located.
Legal backing is a must before considering auctions for repossessed homes
For this dream to become a reality, legal competence is a must. You must have legal backing via a representative who can ensure that all of your documentation is to hand and valid. When the legal side is covered, the official website gives details of the different properties available for purchase – usually through auction many of which are repossessed premises. The scheme provides an easy, simple and more importantly, legal means of securing your very own home for a fraction of the price. To be able to access the auctions, you must be registered with the Social Security platform and have access via your digital certificate or Cl@ve system whereby a code or password is usually sent to you.
Over 1,000 property options on auction for throwaway prices
If it isn’t a home you want, Spain’s Social Security also offers many other purchase possibilities. Furniture, cars, rustic plots and different housing types including chalets are also up for grabs. The online website will take you through a check box process via an assessment of your needs and wants and is highly intuitive so that you can search easily by type of accommodation or property and area or region. Here’s a brief glimpse of the fantastic offers available—check out some of the options listed below to get an idea. Now might be the perfect time to jump in and secure a deal before these incredible offers slip away!
Housing in Malaga: apartment option on Avenida Juan XXIII. Appraisal amount of €46,311 euros and property transfer for the same amount. Auction ends on November 20 at 10:00 a.m.
Apartment in Madrid: active auction at Avenida San Luis 166, on the eleventh floor with views of the street. Appraisal amount: €43,200.
All auctions are carried out by Social Security, who can also offer a percentage of the full ownership, making it easier for the buyer who may not dispose of the full financial means for buying. For those ready to buy their first or final home, this is a fantastic opportunity to secure the perfect property. Ensure your paperwork is current and that you have legal guidance to support you throughout the process. Then, simply head to the website and get ready to outbid the competition!
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Written by
Johanna Gardener
Originally from Manchester, UK and with a degree in English with Modern Foreign Languages, she has been a permanent resident in Spain for the past 12 years. Many of these years, she has spent working as a secondary school teacher, as well as in journalism, editing and marketing. She currently lives in the historic centre of Malaga, where she enjoys writing, walking and animals.
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