Buying property in Spain might seem straightforward, but it often involves complex regulations, taxes, and unexpected challenges, especially for foreigners. Our agency is here to make it easier.
We don’t just facilitate transactions; we ensure a seamless and transparent journey towards acquiring your dream property in Spain. Our comprehensive understanding, detailed guidance, and commitment to transparency eliminate the hassles and hidden surprises, allowing you to enjoy the excitement of purchasing your luxury property with complete peace of mind.
There are still a few steps ahead of you on the way to the purchase.
- Obtaining an NIE number and opening a bank account
NIE (Número de Identificación Extranjeros) or Foreigner Identification Number is necessary to register as a property owner and pay taxes. It is not necessary to have a Spanish account at this stage. You will need to open a local bank account at the latest before signing the deed.
- Negotiating the price
Spaniards like to negotiate (and not necessarily in your way). It is important at this stage to know the “real” market price of the property. We offer full support in the negotiation process. We know the realities of the market, so we know what a “fair offer” means.
- Mortgage and official valuation of the property
If you plan to purchase with a mortgage, you can count on financing 60-70% of the purchase price. This 60-70% will be calculated on the purchase price or on the official valuation (with the lower amount always taken into account). Usually, the bank suggests its own specialists, but you can also hire a specialist yourself. We cooperate with many banks and appraisers and can, of course, help you find the best deal.
- Reservation and deposit
Once you have agreed on a price with the seller, you will sign a reservation contract (Contrato de Reserva). This document is a confirmation of the agreed price and general conditions of purchase and will withdraw the property from the market.
- Documentation and notary contract
Before visiting the notary, you should prepare all required documents and make sure that the property has no legal or physical defects. At this juncture, you will definitely need the help of an experienced real estate agent or lawyer.
- The property is yours!
Here ends the buying process – you become the owner of your dream property, but there is one more important step ahead of you…
- Property registration and taxes
After signing the Deed of Sale, you have a maximum of 30 days to pay the real estate transfer tax (for the secondary market) or tax on civil actions (for the primary market). Only after this payment has been made will the Registro de la Propiedad (or Land Registry Department) register you as the new owner. Usually, the process of registering the new owner is conducted by an administrative agency, weighed against the Notary.
The cost of purchasing a property varies depending on the Autonomous Community in which it is purchased. The expenses usually range between 7% and 11%. Below are the costs you will incur when purchasing a property in Catalonia.
For purchases of pre-owned housing (second and subsequent transmissions)
The tax on the transfer of real estate is set at 10% for amounts up to 1,000,000 euros, applying 11% for amounts over 1,000,000 euros.
Changes as from June 27, 2025: transfers as from this date will be taxed according to the following scale:
- Purchase price up to 600.000 € 10 %.
- The amount above 600.000 € up to 900.000 € will be taxed at 11%, from 900.000 € to 1500.000 € 12%.
- Price over 1.500.000 € 13%.
- Notary and land registry fees depend on the price of the property. For example, for a property valued at approximately 500,000 euros, these combined costs will amount to approximately 2,000 euros.
For purchases in the new development market (first transfers)
- A Value Added Tax (VAT) of 10% is applied.
- AJD (tax on civil law transactions) is charged at 1.5% of the net price of the property.
- Notary and property registration fees are in line with those of the primary market, with no significant deviations.
