How to buy a property in Spain

Real estate in Spain is increasingly attracting foreigners drawn to its climate, lifestyle, and still affordable prices compared to other European countries. Whether you're considering a secondary residence, a rental investment, or a permanent relocation, it’s essential to understand the steps, local rules, and associated costs. Here is a comprehensive guide to buying real estate safely in Spain.

1. 🧭 Preparing your real estate project in Spain

🌟 Define your goal

Before starting, ask yourself the right questions:

• Do you want to live there year-round?
• Are you looking for a secondary residence for holidays?
• Are you aiming for a profitable rental investment?

This clarification will help you choose the region, property type (apartment, villa, village house), and budget that suits you.

🌍 Study the Spanish real estate market

Prices vary greatly by region:

• Madrid: 2,965 €/m²
• Barcelona: 3,380 €/m²
• Marbella: 3,070 €/m²

2. 🗘️ The key steps in buying real estate in Spain

1. Obtain your NIE: Essential identification number for purchasing.
2. Open a bank account in Spain for payments and fees.
3. Find the property through reliable agencies or platforms like Idealista.
4. Conduct a legal check with a specialized lawyer.
5. Sign a reservation contract (contrato de arras), usually with a 10% deposit.
6. Finalizing with the notary: Official deed of sale and registration.

3. 💶 Budget: taxes, fees, and financing

Purchase fees

Expect an additional 10 to 15 % in fees on top of the property price:

• Transfer tax (ITP): 6 to 10 % depending on the region
• Notary and registration fees: 1,000 to 2,000 €
• Lawyer's fees: ≈ 1 % of the purchase price

Financing

Non-residents can borrow up to 70 % of the property value. Fixed interest rates between 2 % and 4 %.

4. 💼 Post-purchase taxation

Local taxes

• IBI: Municipal property tax
• Community fees and maintenance

Rental income

EU/EEA residents: Taxed at 19 %, with possible deductions (interest, works, IBI...)

Non-EU/EEA residents: Taxed at 24 %, with no deductions.

Wealth tax

Applicable on net assets exceeding 700,000 € (varies by region).

5. 🏜️ Regions to buy in

• Costa Blanca: Alicante, Calpe, Torrevieja
• Costa del Sol: Marbella, Estepona
• Catalonia: Barcelona, higher taxes
• Balearic Islands: Rare and expensive properties
• Valencia: Good value for money

6. 👤 Client testimonial

“I was looking for a holiday home. Valencia stood out: accessible, lively, affordable. With a French-speaking agency, I got my NIE quickly, opened an account, and found a well-located 1-bedroom apartment. The purchase was finalized in 3 months, and I now rent it out for 8 months a year.” – Marc, 42, Paris

7. ❓ FAQ

• Can you buy without residing in Spain? Yes, it's allowed.
• What is the average time to complete a purchase? Around 6 to 12 weeks.
• Is there a tax on resale? Yes, municipal and tax capital gains.
• Does buying give you access to the Golden Visa? Yes, if the purchase exceeds 500,000 € without external financing.

8. 🧠 Summary

Need assistance? Contact a consultant or Simulate your project