Buying Property in Spain: What International Buyers Should Know

Spain keeps coming up in conversations with clients, and I get why. I've got family there, so I hear about the market firsthand — not just from headlines. For buyers from Latin America, Europe, and the U.S., Spain offers something a lot of markets don't: real stability plus a genuine cultural pull.

Why Foreign Buyers Like Spain

The climate, the quality of life, and solid property rights for non-residents are the big draws. Costa del Sol, Costa Blanca, Madrid, Barcelona, and the Balearic Islands see the most interest from international buyers.

It's a mature market. That matters if you're looking for a place that's enjoyable to own and reasonable to hold onto long-term.

Who Can Buy

Almost anyone. There's no restriction on foreign ownership in Spain.

A few things to know going in:

• Buying property doesn't grant residency automatically. Spain ended its Golden Visa program in 2025.
• If you want to live there, you'll need the right visa separately.
• Get legal representation. You need someone handling due diligence, taxes, and registration who isn't the seller's agent.

The Steps

1. Get an NIE (Número de Identificación de Extranjero). You need this for every transaction, tax payment, and registration.
2. Open a Spanish bank account. Makes payments, utilities, and ongoing costs much easier to manage.
3. Hire a local attorney for due diligence. They verify ownership, check for outstanding debts, and review the contract before you sign anything.
4. Budget for the extras. Plan on roughly 10-12% on top of the purchase price for taxes, notary, legal, and registration fees.
5. Sign and register. After the deposit agreement (contrato de arras), the final deed (escritura) gets executed in front of a notary and registered with the Land Registry.

Taxes and Ongoing Costs

Purchase taxes:

• Resale homes: Transfer Tax (ITP), 6-10% depending on region
• New homes: 10% VAT (IVA) plus about 1.5% stamp duty (AJD)

Annual costs:

• Property tax (IBI), based on cadastral value
• Non-resident income tax — 19% for EU/EEA citizens, 24% for everyone else
• Wealth tax in certain regions on high-value properties
• Community fees, utilities, insurance, maintenance

Worth Knowing Before You Commit

• Some regions restrict short-term rentals — check local rules before you count on rental income.
• Currency swings matter if you're paying in a foreign currency. Plan for it.
• Work with bilingual professionals. It saves headaches at every step.

I've got family connections in Spain and a network of professionals I trust there — attorneys, agents, property specialists. If you're considering it, I can point you toward the right people while helping you think it through from here.

If you want to talk through whether Spain makes sense for you, reach out. Happy to help.