Lexidy Home » Services – Global » Services in Spain » Real Estate Department – Spain » Buy a property abroad – Spain
Purchasing Property in Spain
Expert legal guidance from experienced real estate lawyers in Spain for foreign property investors.
Buying Investment Property in Spain
Contact our team of real estate lawyers today to receive the legal support you need to make a property investment in Spain.
Contact Us
To request a free consultation case, please provide us with your contact details below and we will contact you via email or phone.
How can a lawyer help with Purchasing Property in Spain?
There are several ways our real estate lawyers can help you with buying property in Spain:
Reviewing and explaining legal documents: A lawyer can review and explain any legal documents related to the property, such as the sales contract and title deeds.
Negotiating on your behalf: A lawyer can negotiate on your behalf with the seller or their representative to ensure that your interests are protected.
Checking for any encumbrances on the property: A lawyer can check for any encumbrances, such as liens or mortgages, on the property to ensure that you are not purchasing a property that has outstanding debts.
Assisting with the transfer of ownership: A lawyer can assist with the transfer of ownership of the property from the seller to you, including ensuring that all necessary documents are filed with the appropriate authorities.
Advising on tax implications: A lawyer can advise you on the tax implications of purchasing a property in Spain, including any applicable stamp duty or capital gains tax.
What Our Clients Are Saying
Don’t try to go through the Property Purchase process on your own. Seek the help of an experienced real estate lawyer to increase your chances of success and make the process as smooth and stress-free as possible.
Buying Property in Spain as a Foreigner Requirements
The main requirement for buying property in Spain as a foreigner is to provide your NIE, or foreign ID card, an essential document for conducting any transaction in Spain.
Your NIE number must be presented to property administrators when signing the final deed.
Foreign property investors should also have a Spanish bank account to make transactions easier.
Our Real Estate lawyers can assist you in obtaining an NIE and setting up a Spanish bank account.
Buying Property in Spain Process
The general procedures are as follows:
- Search for properties in Spain with our Real Estate lawyers who can help to ensure that you use reliable and trusted online portals.
- Tax and Budget Planning: Taxes and fees are mostly paid by the buyer and vary from region to region. They typically include the following:
- Property transfer tax of 6% to 10% for an existing property or a 10% VAT, or IVA, for new properties
- Notary costs, title deed tax and land registration fee of 1% to 2.5%
- Legal fees of around 1% to 2%, inclusive of VAT
- Get your NIE (foreign ID card) from the Spanish administration.
- Reservation Agreement and Letter of Intent: Our lawyers will draft a “Letter of Intent” for purchasing a property and guide you through the reservation agreement and any subsequent negotiations before signing a deal.
- Payment of fees: Settle any applicable Property Transfer Taxes or VAT, and update the Land Registry.
Benefits of Investing in Spanish Real Estate
With the help of our qualified property lawyers begin enjoying the benefits of ownership in this dynamic market.
Frequently Asked Questions
There are no restrictions on buying residential or commercial property in Italy.
In fact, Spain encourages overseas investment in both residential and non-residential real estate. For example, investors can apply for a Golden Visa if they spend €500,000 or more on any real estate.
All property owners in Spain must pay three different taxes annually.
Residents are subject to Income Tax, Real Estate Tax (IBI) and Capital Gains Tax.
Non-residents are subject to Income Tax, Real Estate Tax (IBI), Capital Gains Tax and a Non-resident Property Tax.
Yes. If you invest €500,000 or more in Spanish real estate, you can apply for residency with a Golden Visa. Our lawyers can assist you with this type of residency and you can read more about this here.
All new home purcahses are subject to 10% VAT on the value of the property as well as 1.5% for a Legal Documentation Tax.
When buying an existing property, you must pay a Transfer Tax, or ITP. This is levied on a sliding scale depending on the purchase price.
Find your Real Estate Lawyer
Be happy. Join a community of satisfied and successful customers
How Can We help you?
Subscribe to our newsletter
Stay ahead of the changes that matter to you