Question 1

How long does it take to buy a property in Spain as a foreigner?

Accepted Answer

From offer to keys typically takes 6–12 weeks. Reservation contract and NIE come first (1–2 weeks), then the arras deposit contract (2–4 weeks), and finally the escritura at the notary (2–6 weeks) once mortgage and legal checks are complete.

Question 2

Do I need an NIE number to buy property in Spain?

Accepted Answer

Yes. The NIE (Número de Identificación de Extranjero) is required for any property purchase, mortgage, or utility contract. You can apply at a Spanish consulate abroad or in person at a police station in Spain, allow 2–6 weeks.

Question 3

Do I need a Spanish lawyer?

Accepted Answer

It is strongly recommended. An independent Spanish lawyer (abogado) reviews the title, checks for debts and planning issues, drafts the arras contract, and represents you at the notary. Budget around 1% of the purchase price.

Question 4

How much are the total buying costs on top of the price?

Accepted Answer

Plan for 10–14% of the purchase price: transfer tax (ITP) 6–10% on resale or VAT 10% + stamp duty 1–1.5% on new-build, plus notary, land registry, legal fees, and valuation. Mortgage costs add ~1% if financing.

Question 5

Can foreigners get a mortgage in Spain?

Accepted Answer

Yes. Non-residents can usually borrow 60–70% of the property value from Spanish banks; residents 70–80%. Rates are competitive but banks require proof of income, tax returns, and life insurance. Pre-approval takes 2–4 weeks.

Question 6

Does buying a property give me residency in Spain?

Accepted Answer

Not automatically. Spain ended its Golden Visa in April 2025. Non-EU buyers now need a separate residence permit (non-lucrative visa, digital nomad visa, or work permit). EU citizens can register as residents freely.

Question 7

How many days can I stay in Spain as a non-resident owner?

Accepted Answer

Non-EU owners are limited to 90 days in any 180-day period across the Schengen area, unless they hold a Spanish residence permit. EU citizens can stay indefinitely but must register after 90 days.

Question 8

What taxes do property owners pay in Spain?

Accepted Answer

Annual IBI (local property tax), rubbish collection, community fees (if applicable), and non-resident income tax (IRNR) of ~19–24% on rental income or imputed rent. Wealth tax may apply for high-value estates.

Question 9

Can I make an offer before visiting the property in person?

Accepted Answer

You can, but always inspect before signing the arras (deposit) contract, which is legally binding. Many buyers do a first virtual viewing, then visit for 2–3 days to see shortlisted properties and meet the lawyer.

Question 10

What is the arras contract?

Accepted Answer

The arras is Spain's deposit contract, usually 10% of the price. If the buyer backs out they lose the deposit; if the seller backs out they must repay double. It fixes the price and completion deadline.

Frequently Asked Questions