You don't need residency
Non-residents can buy any property in Spain, finance up to 70% with a Spanish bank, and own it forever.
The process in eight steps
- Get a NIE (apply at the consulate or via lawyer with PoA).
- Open a Spanish bank account.
- Engage a Spanish lawyer independent of the agent. Budget €2,500–€5,000.
- Sign a reservation contract with a small deposit (€6,000–€18,000).
- Sign the private purchase contract (Arras) within 30 days with 10% deposit.
- Apply for mortgage if needed — 5–8 weeks.
- Sign the deed at the notary (Escritura).
- Register at the Land Registry and pay all taxes.
Total transaction costs
Resale: 9–12% on top of purchase price (ITP 7% in Andalucía + lawyer + notary + Land Registry + bank fees). New build: 12–14% on top (10% IVA + 1.2% Stamp Duty + the rest).
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Start matchingAnnual ownership
- IBI (council tax): 0.4–1.1% of cadastral value
- Modelo 210 (non-resident annual tax on imputed income): ~0.2% of cadastral
- Community fees: variable
- Building insurance: ~€300–€800/year
Timeline
30–90 days from offer to keys for cash. 60–110 for mortgage.
Key advice
Never sign anything in Spanish you don't understand. Get the lawyer in before you sign the reservation contract — not after.
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