What requirements does a foreigner need to meet to buy a house in Spain?

Buying a home in Spain is a decision increasingly made by foreigners, attracted by its climate, lifestyle, legal security, and investment opportunities. Fortunately, the process is accessible to both European and non-EU citizens, provided some basic legal requirements are met.

Basic legal requirements for buying a property in Spain as a foreigner

To be able to buy a home in Spain as a foreigner, you need:

• NIE (Foreigner Identification Number) : essential for any legal or financial transaction in Spain. You can apply for it at a National Police station or at the Spanish consulate in your country.
• Bank account in Spain : This will facilitate the payment of taxes, mortgages, utilities, and other expenses associated with the property.
• Valid passport : as official identification for signing the contract and public deed.
• Justified funds : You will need to prove the legal origin of the money, especially in high-value transactions.

Furthermore, it's advisable to seek the advice of real estate and legal professionals to facilitate the entire purchase process and ensure a safe and hassle-free investment.

Step-by-step process for buying a house in Spain

The process of buying a home in Spain involves several stages, typically involving a real estate agent, a lawyer, and a notary. Once the documentation is gathered, the purchase process includes:

• Reserve the property with a contract and a small deposit.
• Sign the deposit contract , which details the price, terms, and conditions of the sale.
• Conduct a legal review of the property (title, encumbrances, licenses, etc.).
• Signing of the public deed of sale before a notary.
• Registration in the Property Registry .
• Payment of taxes and expenses (VAT or ITP, notary, registration, etc.).

In total, additional expenses typically represent between 10% and 13% of the home price.

Costa Invest: Your expert guide to buying a home in Spain without complications

At Costa Invest, we've been helping international clients achieve their dream of buying a home in Spain for over 20 years. If you're a foreigner and have questions about procedures, documentation, or taxes:

• Our multilingual team will assist you throughout the entire process, from finding the ideal property to signing the contract at the notary's office.
• We offer no-obligation legal and tax advice so you can shop with complete peace of mind.
• We manage properties in the best areas of the Costa Blanca , both new construction and resale, with private pools, sea views, and prime locations.

Do you have questions? Contact our team of real estate agents on the Costa Blanca now and receive personalized, no-obligation advice to answer all your questions about buying a home in Spain.

• Call: +34 966 760 422
• Send an email: info@costainvest.com
• Office address: Calle Salvador Dalí, 20 – Bajo 1 – Vía Park 1 Shopping Center – Playa Flamenca – 03189 Orihuela Costa (Alicante)