Step-by-Step Guide to Buying Property in Spain as a Foreigner (2025)

Buying property in Spain as a foreigner is straightforward — but knowing the process can save you time, money, and stress. Whether you're investing in a coastal villa, an apartment in Marbella, or a countryside finca, this step-by-step guide will help you navigate the journey with confidence.

Step 1: Define Your Objectives

Before you begin, decide whether your property is:

• A holiday home
• A buy-to-let investment
• A full-time residence
• A mix of both

Your objective will determine your location, budget, and legal setup.

Step 2: Work with a Trusted Real Estate Agent

Partnering with a reputable local agency like Oasis Marbella Real Estate ensures you have access to verified listings, local expertise, and negotiation support. Your agent will also coordinate viewings and recommend trusted legal and financial professionals.

Step 3: Obtain an NIE Number

The Número de Identificación de Extranjero (NIE) is a tax identification number required for all real estate transactions in Spain.

• Apply at a Spanish police station or consulate
• Required for signing contracts, opening bank accounts, and paying taxes

Step 4: Open a Spanish Bank Account

You’ll need a local account to:

• Transfer your funds
• Pay taxes, utilities, and notary fees
• Set up mortgage payments (if applicable)

Many banks offer services in English and accounts for non-residents.

Step 5: Appoint a Lawyer (Abogado)

Your lawyer will:

• Conduct due diligence on the property
• Review legal status, debts, and permits
• Draft and review contracts
• Ensure all taxes and legal obligations are met

We recommend hiring a bilingual lawyer experienced in property transactions.

Step 6: Secure Financing (if needed)

Non-residents can usually borrow up to 70% of the property's value. Spanish mortgage rates are competitive and fixed-rate options are available.

Your lawyer or agent can help you:

• Compare mortgage providers
• Submit required documents (proof of income, tax returns, etc.)

Step 7: Reserve the Property

Once you’ve found the right home:

• Sign a reservation agreement (Contrato de Reserva)
• Pay a small deposit (typically €6,000–€10,000) to remove the property from the market

Step 8: Sign the Private Purchase Contract

Usually within 2–4 weeks:

• Sign the Contrato Privado de Compraventa (private contract)
• Pay 10% of the purchase price
• Agree on a date for completion

Step 9: Complete the Sale (Escritura de Compraventa)

Final signing takes place at a notary's office. Both buyer and seller must be present (or represented via power of attorney).

You’ll pay:

• Remaining balance
• Taxes and notary fees
• Registration costs

The notary will issue the title deed.

Step 10: Register the Property

After signing:

• Your lawyer registers the property at the Land Registry (Registro de la Propiedad)
• You become the legal owner

Bonus: Understand the Taxes

Typical costs for property purchases:

• Transfer Tax (ITP) for resale: ~7%
• VAT (IVA) for new builds: 10% + 1.2% stamp duty (AJD)
• Notary, legal, and registry fees: 1–3%

Final Thoughts

Buying property in Spain as a foreigner is a well-defined and secure process when guided by the right experts. At Oasis Marbella Real Estate, we walk you through every step — from your first viewing to receiving your keys.

Need support finding and securing your ideal home in the Costa del Sol?
📩 Contact our team for a personalized consultation.

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