Buying property in Spain as a foreigner

Anyone can buy a home in Spain, whether they live here or not. The process is the same as for a resident, with three practical differences: the NIE, the bank account and what you pay each year if you don’t live here.

1. Get your NIE

The foreigner identification number (NIE) is essential for signing the purchase and paying taxes. You apply using form EX-15 and paying its fee, at an immigration office or police station in Spain, or at the Spanish consulate in your country. If you can’t do it yourself, a representative with a power of attorney can handle it.

2. Open a Spanish bank account

It isn’t a legal requirement for buying, but it makes it easier to pay taxes and bills such as electricity, water, IBI and community fees. Many banks open accounts for non-residents.

3. Look into financing before you start searching

Spanish banks lend to non-residents, normally at a lower percentage than to residents. Ask for an assessment before making an offer, and expect to contribute more savings.

4. Check the property and sign the deposit contract

• Ask for the land registry extract (nota simple): it confirms who owns the property and whether there are any charges.
• Check that IBI and community fees are up to date.
• Review licences, floor areas and the energy certificate.
• For new builds, check the building licence and the guarantee covering any payments on account.

If you’re happy, a reservation and a deposit contract (arras) are signed. We recommend having an independent lawyer review the documents, particularly if you don’t speak Spanish.

5. Sign at the notary, in person or by power of attorney

The purchase is signed before a notary, who must by law make sure you understand what you’re signing; if you don’t speak Spanish, an interpreter may be required. If you can’t travel, you can grant a power of attorney to someone you trust. A power granted abroad may need an apostille and sworn translation.

6. Purchase taxes and costs

They’re the same for foreign and Spanish buyers. For resale homes, 9% ITP in the Valencian Community; for new builds, 10% VAT plus stamp duty (AJD). Notary and registry fees come on top.

Calculate the purchase costs

7. What you pay each year

• IBI, refuse collection and community fees, like any owner.
• Non-Resident Income Tax: even if you don’t let the property, the tax office attributes notional income to you. If you do let it, you’re taxed on the rent. The general rate is 24%, or 19% for residents of the EU, Iceland and Norway.
• Wealth Tax, only if you exceed the applicable thresholds.

Buying doesn’t give you the right to live here

The so-called “golden visa” for property investment was abolished in April 2025. If you’re from outside the EU, buying a home doesn’t give you residency rights or extend the time you can spend here, so you’ll need to look into the routes to residence available to you.