Primary or secondary real estate?

Primary or secondary real estate?

Who among us has not dreamed of a house – a full cup, which stores a piece of the soul of its owner and  family? It is deal if it is located under the sunny sky of hospitable Spain. Here is just a financial opportunity – just the first step towards a dream.

Under the primary real estate realtors imply objects at the construction stage or directly from the developer, on which property rights have not yet been drawn up. In the event that such a property is acquired by an individual or a legal entity, and then sold, without having moved in, it is already secondary real estate.

The primary and secondary real estate markets are compared in many ways, including price, settling rate, investment, risk, profitability and mortgage rates.


In assessing a property, not only its age is taken into account, but also the size, layout, condition, orientation of windows, number of floors, and location.

If we are talking about old housing, which needs serious repairs, the new owner will receive significant savings from the transaction. In addition, the purchase of secondary real estate always implies a reasonable bargain with the previous owner, in contrast to the primary objects, the price of which is strictly regulated by the price list of the developer. It is true, the savings saved can later be entirely spent on the restoration of housing “with the hands”.

Quick settlement

Have you been dreaming about housing, for example in Spain for a long time and want to become its happy owner as soon as possible? A more suitable option would be to purchase a secondary facility. If your apartment or house is in good condition, then you can enter your new home immediately after signing the deed. But when buying a home under construction will have to thoroughly harbor patience.


When buying any residential property, you must pay notary services (1-2% of the cost, usually not more than 650 euros) and registration of the bill of sale (as a rule, not more than 300 euros). Paperwork will cost about 600 euros.

When buying a new property 2 types of taxes are paid: 1) a value added tax (as a rule, it is already included in the price) – for houses and apartments it is 10% of the cost, for land and commercial properties – 21% ; 2) a tax on documenting legal acts –1.5% of the official cost.

Do not get confused in the nuances of taxation when buying property.


When choosing between purchasing primary or secondary housing with the attraction of credit funds, it is worth remembering that there are practically no differences in the mortgage rate in this case. Therefore, it is rational to make the final choice based on a comparison of other parameters.

What is still better – a brand new apartment in a new building or well-maintained apartments from the previous owner?

If you plan only to have a rest in the most sunny European country from time to time, then you are unlikely to be interested in “fussing” with the purchase of furniture and the complete furnishing of your holiday home. In this case, it is more reasonable to opt for the secondary housing. If you are going to move to this country “seriously and for a long time”, you have the time and the means to wait for the completion of construction and furnish your new home to your liking, then you can safely buy the object of the primary market. A nice bonus in this case will be the so-called “effect of a new apartment” – psychological comfort from the realization that nobody lived here before you.

Leave a Reply

Your email address will not be published. Required fields are marked *