To buy property in in Spain, you need to have an open bank account in Spain and an N.I.E. (Foreigner Identification Number), which we obtain on behalf of the client. This document can be provided within 14 days after the notarial deed.
For a bank visit, you will need documents confirming the source of your income, so prepare:
If you are planning to finance the purchase of your property with a mortgage in Spain, the bank will ask you to provide a number of documents to assess your financial profile and borrowing capacity. The most common documents include:
The bank may also ask you to complete a number of internal documents, such as:
When buying a property in Spain with a mortgage, you will normally need to provide a minimum deposit of 30% of the purchase price, in addition to the associated purchase costs.
You should also take into account other potential costs, such as the property valuation, the valuation report and any mortgage arrangement or opening fees. These costs may vary depending on the terms and special offers provided by each bank.
A power of attorney allows for a secure and efficient property purchase, even if you remain in your home country throughout the process. It is a particularly practical option for international buyers who are unable to travel to Spain at every stage of the purchase.
With this document, an authorised representative can act on your behalf, review the documentation and sign the title deed before a notary when the time comes. Our team coordinates every step with you remotely, providing all the necessary information and documentation online.
When buying a new-build property in Spain, the reservation agreement usually requires an initial payment of between 25% and 40% of the purchase price. The agreement should clearly state:
When purchasing a new-build property, it is essential to have a bank guarantee, which is mandatory in Spain. This guarantee protects the buyer and ensures that all funds paid are refunded if the developer fails to meet their obligations.
The remaining balance is normally paid once the property has been completed and the title deed is signed before a notary.
When buying a resale property in Spain, the reservation deposit is usually between €3,000 and 10% of the purchase price.
This deposit forms part of the final purchase price and secures the transaction.
The purchase is normally scheduled to be completed within a maximum of 2 months. If a mortgage is involved, this period is usually extended to up to 3 months. In many cases, however, the transaction is completed within 4–6 weeks.
*Legal service cost includes assistance during the notary deed, assistance at the bank, and oral translations. Transfer of utilities such as electricity and water. Change of owner in the Tax Office and in the housing community, calculation, and payment of taxes. In the case of a primary market, expect the first significant invoice from electricity and water suppliers for the first installation of meters; the amounts vary depending on the supplier. For a marital agreement, a translated document with an apostille stamp must be presented before the notary on the day of the notarial deed (additional costs may apply). Before making a reservation payment, we thoroughly verify the property from a legal perspective.
*Costs may vary slightly depending on the number of pages in the notarial deed.
**The marked certificate is usually already paid by the seller.
*** The price may vary slightly, depending on the location of the registry. The price list of services may change. Estimated data for the year 2024.
If you have any further questions about how to buy property in Spain - please contact one of the team.
| Location status | Costa Blanca New build |
Costa Blanca Resale | Costa Cálida New build |
Costa Cálida Resale |
|---|---|---|---|---|
| Purchase price | 200,000€ | 200,000€ | 200,000€ | 200,000€ |
| Vat (IVA) 10% of the purchase value | 20,000€ | -------- | 20,000€ | -------- |
| Tax ITP 8%, 10% of the purchase value | -------- | 20,000€ | -------- | 16,000€ |
| Stamp duty AJD 1.5% of the purchase value | 3,000€ | -------- | 3,000€ | -------- |
| Notary * | 1,800€ | 1,300€ | 2,300€ | 1,400€ |
| Second occupation certificate ** | -------- | 150€ | -------- | 120€ |
| Land Register * | 950€ | 550€ | 1050€ | 700€ |
| N.I.E Number | 175€ | 175€ | 175€ | 175€ |
| Registration with the Spanish tax office | 50€ | 50€ | 50€ | 50€ |
| Legal services | 1,694€ | 1,694€ | 1,694€ | 1,694€ |
| Total | 228,669€ | 223,919€ | 228,269€ | 220,139€ |
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