Spain is increasingly becoming a very popular tourist destination and local surveys say that since the year 2000 property prices in the region have shot up by an alarming rate, Malaga has the best climate in Spain and the property here sell quite fast. The estate agents in Malaga may appear good and have the best of facilities to assist you, however you can't be 100% sure, so it is advisable to get the property checked by an independent lawyer rather than one suggested by the agents. This is because Spain as such does not have regulations for estate agents, so you have to be doubly sure when purchasing property through them, it's always better to go through someone referred by friends.

Property anywhere across the world costs a lot and most buyers like to use banks to help fund their purchase, loans are also available in Malaga so it's advisable to take a property on them. The loan is given against the property itself and is long termed to ease the burden on the buyer, Banks take copies of passports, pay slips residential proofs so you will need to have them handy. Since the value of the property quoted is in Euro's it could be less or more than the actual amount that has to be paid depending on the markets and the exchange rates, some buyers may end up shelling out a fortune, so it is advisable to always fix the property rate before commencing with the deal.

The locals in Spain earn far less than what is required to get a property registered or transferred in case of a death, the most important issue when buying a property in Malaga is to find out who the actual owner is, many of them may claim that a particular property belongs to them however to be sure you will need to get this checked at local authorities like the town hall. There are no title deeds to properties, the death of a property owner is not registered so verification takes a lot of time, for some properties banks may refuse loans as well. The purchaser at times may have to lay out a hefty sum to get the property registered in their name and at times the registered area of the property can be less than the actual constructed area.

After a lot of research and effort when a property actually comes to the owner, insurance is a must, Spanish laws make it mandatory for all properties to be covered for fire insurance, while life insurance is a matter of choice, not under compulsion but many choose cover under this insurance form for repayment of the mortgage value in case of death, household insurance is a great idea to protect the house of your dreams and it's belongings from any danger.