Buying a Property in Spain: Your Ultimate Guide

Spain’s sunny weather, stunning landscapes, and rich culture make it a dream destination for property buyers. Whether you're looking for a holiday home, investment property, or permanent residence, buying property in Spain is an exciting opportunity. Here’s everything you need to know to make your purchase smooth and stress-free.

Why Buy Property in Spain?

Spain offers a wide range of properties, from charming countryside fincas to luxurious beach front apartments on the Costa del Sol. Key reasons to invest include:

• Lifestyle: Enjoy a relaxed Mediterranean lifestyle with excellent weather and a vibrant culture.

• Golden Visa: Purchasing property worth €500,000 or more may qualify you for a residency visa.

• Investment Opportunities: Spain’s real estate market is thriving, offering attractive returns on rental properties or long-term investments.

Steps to Buying Property in Spain

1. Understand the Legal Process

Buying property in Spain involves specific legal procedures. Here's an overview:

• NIE Number: You’ll need a NIE (Foreigner Identification Number) to purchase property.

• Property Check: Hire a lawyer to verify the property’s legal status, including debts, licenses, and ownership records.

• Deposit Contract: Pay a deposit (usually 10%) to reserve the property while finalizing legal checks.

Costa Concierge Services can connect you with trusted lawyers and guide you through this process.

2. Financing Your Purchase

If you’re not paying in cash, Spanish banks offer mortgages to non-residents, typically covering 60–70% of the property value. It’s essential to compare rates and ensure you meet the bank’s requirements.

3. Taxes and Fees

When buying property in Spain, you’ll need to account for additional costs, such as:

• Property Transfer Tax (ITP): 6–10% of the property price, depending on the region.

• Notary and Registration Fees: Approximately 1–2%.

• Legal Fees: Around 1% of the property price.

Plan for an additional 10–15% of the property price to cover these costs.

Choosing the Right Location

The Costa del Sol offers diverse options for property buyers. Popular areas include:

• Málaga: A cultural hub with excellent transport links.

• Marbella: Known for luxury villas and a vibrant lifestyle.

• Fuengirola and Mijas Pueblo: Affordable options with strong rental potential.

Golden Visa Benefits

If your property purchase is €500,000 or more, you may qualify for Spain’s Golden Visa. This residency program allows you to live in Spain and travel freely within the Schengen Zone. It’s a fantastic option for those seeking flexibility and access to Europe.

How Costa Concierge Services Can Help

At Costa Concierge Services, we provide end-to-end support for property buyers. From legal guidance and financing assistance to finding your dream home and handling paperwork, we ensure a seamless buying experience.

Ready to Buy Property in Spain? Whether you’re looking for a holiday retreat or a long-term investment, the Costa del Sol offers incredible opportunities. Let Costa Concierge Services make your property-buying journey smooth, secure, and enjoyable.

Contact us today to get started!