What to Know When Buying Property in Spain as a Foreigner?

Spain regions are very popular for foreigners looking for a high standard of living, friendly locals, pleasant climate, and diverse culture. Whether you’re planning to work in major cities of Spain, such as Valencia, or retiring to a coastline, you will find many property options.

While renting a Spanish property is definitely an option, many expats choose to own a property to stay for the long term. There is a large expat community scattered throughout Spain, which means you will see a high proportion of real estate is already owned by foreigners.

If you’re planning to join British expats and enjoy life in Spain, read this guide to understand the property buying procedure for foreigners. Let’s begin!


Well, there are no such requirements or paperwork for foreigners interested in buying properties in Spain. In fact, foreign investments are widely encouraged in the country by the government. 

You only require a financial number (NIE) that can be issued through the Spanish police station and present your passport. But for non-EU citizens, it may take a few weeks to get this number. There is also a Golden Visa scheme for foreigners and through this program, you can acquire a residency visa if you’re buying property worth over £500,000.


The impact of the COVID-19 hit is clearly noticeable in Spanish property prices. While some overseas buyers purchase property without a mortgage, Spanish and international banks provide mortgages and other deals for expats from certain countries. Non-residents are limited to 60-70% loan-to-value (LTV), depending on the mortgage type. It is also crucial to include a clause in the purchase contract, allowing buyers to pull out if they cannot get a mortgage.

Fees for buying a property may vary depending on the area and many are negotiable. Buyers need to pay costs for property transfer tax, notary costs, and legal fees. The most expensive places to buy property in Spain include Madrid, San Sebastian, and Barcelona, ranging from €3,000 to €3,600 per sqm.


Spain has a well-equipped real estate market. This means you will get a range of apartments, villas, townhouses, or even land if you wish to build your dream home. Typically, you will find homes in developed areas and cities, with basic amenities and newer development in suburbs, towns, and villages.

A real estate agent can help foreigners find a perfect mix of older properties and newly built condos that suit their desires, lifestyle, and needs. Follow the below steps to ease the process of buying property in Spain:

·      Choose where to buy – research, view featured properties, and make a plan

·      Find a professional real estate agent to make your process straightforward

·      Get your finances in place 

·      Carry out property viewings and choose your dream home

·      Make an offer 

·      Consider setting up a survey

·      Once the offer is agreed, the buyer and seller will sign a preliminary contract and the buyer will pay a deposit

·      Finalise your mortgage

·      Sign the agreement of sale

Buying a property in Spain as a foreigner is a big step and navigation processes in a new country can be challenging. But it can be fairly smooth and easy to understand if you acquire the right advice and guidance through our local real estate agents. Feel free to get in touch with us today.

If you wish to receive more information, do not hesitate to contact us.
Phone: +34 966 397 944
Email: admin@calpe-hamiltons.net