Buying property in Spain

Honest, practical answers from an adviser with 20 years in the overseas property market. This is general information, not legal or financial advice.

Can foreigners buy property in Spain?

Yes. There is no general ban on foreigners buying property in Spain, and you do not need to be a resident. Overseas buyers can buy freehold in their own name. You will need a Spanish tax number (an NIE) and, in practice, an independent Spanish lawyer.

How do I get an NIE number to buy in Spain?

An NIE is your Spanish foreigner identification number. The notary will not complete a purchase without it, and you also need it for a bank account, a mortgage and tax. You can apply in person in Spain, through a Spanish consulate, or through a lawyer with a power of attorney.

How does buying property in Spain work, step by step?

You choose a property, sign a reservation, your lawyer checks the legal position, you sign a private purchase contract and pay a deposit (usually 10%), then complete in front of a Spanish notary, pay the taxes and register the property in your name.

How much does it cost to buy property in Spain on top of the price?

As a guide, budget roughly 10% to 13% on top of the price. The main costs are transfer tax (ITP) on a resale or 10% VAT plus stamp duty (AJD) on a new build, then notary, land registry, lawyer and gestor fees. The rates depend on the region.

Can non-residents get a mortgage in Spain?

Yes. Spanish banks lend to non-residents, but usually up to about 60% to 70% of the property value, so you need 30% to 40% plus the buying costs from your own funds. You will need an NIE and proof of income from your home country.

What property taxes will I pay as a non-resident owner in Spain?

Owners pay an annual local property tax (IBI) and a rubbish charge. Non-residents also file a yearly non-resident tax return: on a property you do not rent out you are taxed on a notional income, and on a rented property you are taxed on the rent. UK owners are taxed at the non-EU rate.

Can I get residency in Spain by buying a property?

No, not any more. Spain’s Golden Visa for property buyers closed to new applications after the government announced its end on 3 April 2025. Permits already granted stay valid. Buying a home no longer gives non-EU buyers a right to residency.

What is the Spanish non-lucrative visa?

The non-lucrative visa lets non-EU nationals live in Spain without working, if they can show enough income or savings. The requirement is 400% of the IPREM index: about €2,400 a month (€28,800 a year) for the main applicant, plus about €600 a month for each dependant.

How long can I stay in my Spanish home without a visa?

EU and EEA citizens can live in Spain and register as residents. UK and other visa-exempt visitors can stay up to 90 days in any rolling 180-day period across all Schengen countries combined, and owning a home in Spain does not change this. Only a residence permit or long-stay visa does.

Can I rent out my Spanish property to holidaymakers?

Often yes, but not always. Holiday letting is controlled by each region, usually through a tourist licence, and some towns and communities of owners restrict or ban it. Always check before you buy, because you cannot assume a property can be let.

Do I need a Spanish will if I own property in Spain?

It is strongly worth having a will that covers your Spanish property. Under the EU Succession Regulation, a foreign owner can choose the law of their nationality to govern the estate, which can avoid Spanish forced heirship rules. Whether you need a separate Spanish will is a question for a cross-border lawyer.

How do I transfer money to Spain to buy property?

You send euros to your Spanish lawyer’s client account or to the seller’s account as your contract directs. A currency specialist is often cheaper than your bank and can fix the rate for the payments ahead. Keep clear records of where your money comes from.

Should I buy a new build or a resale property in Spain?

Neither is better for everyone. A new build gives you a modern, energy-efficient home, choices on finish and legal protections such as bank-guaranteed stage payments, but you wait for it to be built. A resale is ready to use and established, but needs more legal checks and may need work.

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