May 21, 2024

5 Things to Consider When Buying a Property in Spain

Buying a property is always a big undertaking, and when you are looking to purchase a home abroad, this is an even bigger undertaking. It is important to make sure you look at some of the best ways of being able to buy the right property in the best possible area. Spain is one of the best places you can move and buy a property, and this is something you have to plan and prepare for. 

According to the Ministry of Inclusion’s statistical report, close to 6 million foreigners reside in Spain (as of December 2021), and, with wonderful weather, delicious food, and a rich, vibrant culture, the appeal is obvious. When preparing to buy a property in Spain, there are a lot of things that you’re going to need to factor in. There are so many amazing areas of Spain that you could move to, and finding your dream property in this wonderful country involves a bit of planning and preparation. Here are 5 of the key things to consider when you are buying a property in Spain.

1. Arrange a Viewing

When you have found a property that captures your interest you need to go and see it. The good news is that finding properties for sale in Spain as a foreigner is easier than ever, and there are many websites and estate agents specifically catering to foreign buyers. Head to in order to find one of the best and most comprehensive lists of stunning Spanish properties for sale. 

2. Secure a Mortgage

Buying without a mortgage is possible on occasions, however, in most cases you will likely be looking to secure a mortgage. This is something that you need to research, but for the most part you will find that, as an overseas buyer, it’s likely to be the case that you have to borrow at a lower LTV rate, meaning the need for a larger deposit. Locals can typically get around 80% LTV, whilst as a non-resident, you are more likely to be limited to around 60%.

3. Research Legalities as an Expat

As an expat, it is important to make sure you understand the market and how things will affect you. The rules for buying in Spain as a foreigner are reasonably simple, but it’s still worth familiarising yourself with them. First off, you’ll require a financial number from the police station (take your passport with you). You might also be eligible for a Golden Visa, if you invest more than £500,000 in Spanish property, so it’s worth looking into this.

4. Understand the Costs

When you buy a property in Spain, it’s not just the sale price of the home that you’ll need to cover. Much like the UK housing market, you’ll have to shell out for legal fees, as well as notary costs, and these come in at around 1-2.5%, inclusive of VAT. Additionally, you’ll also need to shell out for property transfer tax, which is around 6-10%.

5. Hiring a Solicitor

You also have to hire a solicitor to make sure you are legally protected throughout the process. Any lawyer practicing in Spain should be officially registered, so you can make sure you have the best and most competent lawyer to take charge of the home buying process for you. 

When you are trying to find the perfect property in Spain, you need to consider the area you’re going to live in, as well as setting yourself the right kind of budget. There are a lot of elements that will help you secure the right home purchase in Spain, and you have to make sure you prepare for the best ways of being able to achieve this.

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