Frequently asked questions
Practical answers for international buyers planning a property purchase in Marbella and on the Costa del Sol.
Can a foreigner buy property in Spain?
Yes. Foreigners can buy property in Spain with no restrictions on ownership. You need a Spanish NIE number, a Spanish bank account, and an independent property lawyer. UK buyers can purchase freely post-Brexit.
Do I need an NIE to buy property in Spain?
Yes. The NIE (Número de Identificación de Extranjero) is mandatory for all property transactions in Spain. Without it you cannot open a bank account, sign contracts, or complete a purchase. Apply before you find a property.
How long does it take to buy property in Spain?
Typically 3 to 6 months from starting the process to getting the keys. NIE applications, legal due diligence, and mortgage approval are the main variables. Buyers who prepare early move faster.
How much extra do you pay when buying property in Spain?
Budget an additional 10–14% on top of the purchase price for taxes and fees. On a €500,000 property that is roughly €50,000–€70,000 in ITP, notary, registry, and lawyer costs.
What is ITP tax in Spain?
ITP (Impuesto de Transmisiones Patrimoniales) is Spain's property transfer tax on resale properties. In Andalusia it is 7% of the purchase price, the largest single additional cost for most buyers.
Can non-residents get a Spanish mortgage?
Yes. Spanish banks lend to non-residents, typically up to 60–70% loan-to-value (versus up to 80% for residents). You need verifiable income documentation and the bank commissions an independent property valuation (tasación).
Do I need a lawyer to buy property in Spain?
Every foreign buyer should appoint an independent Spanish property lawyer. They conduct due diligence, review contracts before you sign, advise on tax, and represent you at the notary. Do not use the estate agent's recommended lawyer.
Can I buy property in Spain without a Spanish bank account?
No. Completion funds must be paid from a Spanish bank account. Open the account early. You need your NIE first.
How long does an NIE number take in Spain?
From 2 weeks to 3 months depending on how and where you apply. Applying at a Spanish consulate or via your lawyer with power of attorney is common for international buyers.
What is the first step to buying property in Spain?
Apply for your NIE number. It is required before you can open a bank account, sign property contracts, or complete a purchase.
How much does a property lawyer cost in Spain?
Typically around 1% of the purchase price plus IVA (21% VAT). On a €500,000 property, budget approximately €6,050.
What taxes apply to new build property in Spain?
New builds attract IVA (VAT) at 10% plus AJD (Stamp Duty) at 1.2% in Andalusia, approximately 11.2% total, instead of the 7% ITP on resales.
Is it hard to buy property in Marbella as a foreigner?
It is manageable with the right preparation. The process involves 15 required steps, 10–14% in additional costs, and appointing your own lawyer. Most delays come from starting the NIE too late.
Do Spanish estate agents represent the buyer or the seller?
In Spain, estate agents represent the seller and are paid by the seller. Appoint your own independent lawyer for legal and financial advice.
What is a tasación?
The tasación is the official bank valuation of a property required for a Spanish mortgage. The bank lends against the lower of the purchase price or valuation. Cost is typically €300–€600.
Are there ongoing costs after buying property in Spain?
Yes: IBI (local property tax), community fees, basura, non-resident income tax, and buildings insurance. Budget for these as part of your total ownership cost.
How many steps are there to buy property in Spain?
There are 15 required steps for foreign buyers, including NIE, bank account, lawyer appointment, due diligence, arras contract, notary completion, and post-purchase setup.
Can I get a Spanish mortgage with foreign income?
Yes, with documentation acceptable to the bank: payslips, tax returns, or audited accounts. A mortgage broker specialising in international borrowers can identify the most receptive lenders.
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