How to buy a property in Spain

Buying property in Spain is attracting more and more foreigners, who are attracted by the climate, the lifestyle and the prices, which are still affordable compared with other European countries. Whether you're planning a second home, a rental investment or a permanent move, it's essential to understand the steps involved, the local rules and the associated costs. Here's a complete guide to buying property in Spain safely and securely.

1. 🧭 Preparing your property purchase in Spain

🌟 Define your objective

Before taking any steps, ask yourself the right questions:

• Do you want to live here all year round?
• Are you looking for a second home for your holidays?
• Are you aiming for a profitable rental investment?

This clarification will help you choose the right region, type of property (flat, villa, village house) and budget.

🌍 Studying the Spanish property market

Prices vary greatly from region to region:

• Madrid: €2,965/sq m
• Barcelona: €3,380 per square metre
• Marbella: €3,070/m².

2. 🗘️ The key stages in buying property in Spain

1. Obtain your NIE This is the identification number you need to buy a property in Spain.
2. Open a bank account in Spain for payments and fees.
3. Find the property via reliable agencies or platforms such as Idealista.
4. Carry out a legal check with a specialist lawyer.
5. Sign a reservation contract (contrato de arras), usually with a 10% deposit.
6. Finalise with the notary: official deed of sale and registration.

3. 💶 Budget: taxes, fees and financing

Purchase costs

Expect to pay between 10 and 15% on top of the purchase price:

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

Financing

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

4. 💼 Post-purchase taxation

Local taxes

• IBI: municipal property tax
• Co-ownership and maintenancecharges

Rental income

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

Non-EU/EEA residents: taxed at 24%, without deductions.

Wealth tax

Applicable on net wealth in excess of €700,000 (varies by region).

5. 🏜️ Regions to buy in

• Costa Blanca: Alicante, Calpe, Torrevieja
• Costa del Sol: Marbella, Estepona
• Catalonia: Barcelona, higher tax rate
• Balearic Islands: rare and expensive properties
• Valencia: good value for money

6. 👤 Client testimonial

"I was looking for a pied-à-terre for holidays. Valencia stood out: accessible, lively, affordable. Thanks to a French-speaking agency, I obtained my NIE quickly, opened an account, and found a well-placed T2. The purchase was completed in 3 months, and I now rent it for 8 months a year. - Marc, 42, Paris

7. ❓ FAQ

• Can I buy a property without living in Spain? Yes, this is permitted.
• What is the average length of a purchase? Approximately 6 to 12 weeks.
• Is there a resale tax? Yes, plus municipal and tax.
• Does the purchase qualify for Golden Visa? Yes, above €500,000 without external financing.

8. 🧠 Summary

Do you need assistance? Contact an advisor or simulate your project