FAQ Spain Property World

1. Do you want to buy a property in Spain? Here’s what you need to know.

  • Questions and Answers about Buying Property in Spain

    Hire a lawyer: It’s advisable to work with a lawyer (Abogado) specialized in Spanish real estate law to review all contracts and ensure legal security.

    Notary: In Spain, the notary certifies the sales contract. Unlike in Germany, they are not neutral but act more as a public official who confirms the legality of documents.

    NIE number (Número de Identificación de Extranjero): This personal tax number is mandatory for foreigners to buy property, sign contracts, and pay taxes.

    Equity: Foreign buyers usually need to bring 30–40% equity if applying for financing from a Spanish bank.

    Mortgage: Banks will assess your creditworthiness and the value of the property; conditions often differ from those in Germany.

    Property check: Land Registry (Registro de la Propiedad): Verify that the seller is the legal owner and check for encumbrances (mortgages, liens).

    Government permits: For new builds, ensure all building licenses are in place.

    Technical inspection: Have the condition of the property assessed, ideally by a certified surveyor.

    Contract process:

    • Reservation agreement: A preliminary agreement with a deposit is often made to reserve the property for a fixed period.
    • Purchase deed (Escritura de compraventa): Signed before the notary and registered officially.

    Taxes and fees:

    • Transfer tax (ITP) or VAT (IVA): Depending on the type of property (resale/new build), expect approx. 6–10% (ITP) or 10% (IVA).
    • Notary and land registry fees: Approx. 1–2% of the purchase price.
    • Legal fees: Typically around 1–1.5% of the purchase price.

    Ongoing costs:

    • Community fees: For apartments in residential complexes.
    • Annual property tax (IBI).
    • Waste collection and other local charges.

    Usage and residency:

    • Ownership rights: Check whether holiday rentals are allowed (regulated in many regions).
    • Residency rights: Buying property does not automatically entitle you to permanent residency, but high-value investments may qualify for special visas (e.g., Golden Visa).

    Checklist: Buying Property in Spain

Would you like to sell your property through our platform? Here you’ll find the most important answers. If you have any further questions, we’re happy to assist you personally.

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