SoloMar Help Centre for Buying a Home in Spain
The requirements for buying a property in Spain vary depending on whether the buyer is a RESIDENT or a NON-RESIDENT of the country.
Resident Buyers in Spain
- Spanish citizens.
- Foreign nationals with legal residence in Spain.
- European Union citizens holding an EU Citizen Registration Certificate granting the right to reside in Spain for more than 3 months (183 days).
Required documentation.
- National Identity Card (DNI) for Spanish citizens.
- Residence card.
- EU Citizen Registration Certificate.
- Valid passport.
Non-Resident Buyers in Spain.
- Foreign nationals who are not residents of Spain and need to obtain an NIE (Foreigner Identification Number).
Required documentation.
- Valid passport.
- NIE (Foreigner Identification Number).
How can you obtain an NIE (Foreigner Identification Number)?
It can be applied for:
- at the Spanish Embassy or Consulate in your home country;
- in Spain, at a National Police Station (by prior appointment); through an authorised legal representative or in person.
Can a foreigner buy a property in Spain?
Yes. A foreigner can buy a property in Spain even if they are not a resident. There are no nationality restrictions on purchasing property in Spain.
Bank account in Spain.
Opening a bank account in Spain makes it easier to pay for the property, taxes, utility bills and other expenses related to the purchase.
Although it is not always a requirement for buying a property.
Having a Spanish bank account simplifies the buying and selling process and allows payments to be managed quickly and securely.
At SoloMar, we advise you on the required documentation and assist you throughout the entire process.
Documents required to open a bank account for non-residents in Spain.
- Valid passport.
- Previous year's income tax return.
- Employment certificate stating: company name; job position; length of employment; salary or payslip.
Important:
Foreign documents usually require an official Spanish translation carried out by a sworn translator.
What is a mortgage?
A mortgage is a loan granted by a bank or another financial institution to help you buy a property.
Instead of paying the full purchase price from your own savings, the bank finances part of the amount, and you repay it through monthly instalments over an agreed period, together with interest.
Can a foreigner obtain a mortgage in Spain?
Yes. Spanish banks offer mortgages to both residents and non-residents. As a general rule, they finance up to 70% of the property's value for non-residents and up to 80% for residents. Final approval and the loan amount will depend on the property's value, the buyer's financial situation, and the assessment of the required documentation.
What documents do I need to apply for a mortgage in Spain?
- Valid passport.
- Previous year's income tax return.
- Employment certificate stating: company name; job position; length of employment; salary or payslip.
- Credit history.
- Bank statements for the last 6 months.
- Bank certificate showing the available account balance.
What are the costs of buying a property in Spain?
When buying a property in Spain, you should consider not only the purchase price but also the taxes and costs associated with the transaction. These may include VAT (IVA) or Property Transfer Tax (ITP), the Stamp Duty (AJD), as well as notary and Land Registry fees.
The total amount will depend on the type of property and the Autonomous Community where it is located.
Click the following link to calculate the approximate costs of purchasing your property:
Frequently Asked Questions.
What is the reservation deposit for a property?
The reservation amount may vary depending on the property and the seller. As a general rule, it usually ranges from €5,000 to 10% of the purchase price, although some new-build developments or specific transactions may require a different amount.
Can I reserve a property without travelling to Spain?
Yes. It is possible to reserve a property without travelling to Spain. At SoloMar Real Estate, we can arrange video viewings, provide all the information, photographs, floor plans and property documentation, and answer all your questions before you make a decision.
How does SoloMar help you when buying a property?
- Search for the property that best suits your needs and budget.
- Organisation of property viewings.
- Advice on the best areas to live or invest.
- Information about purchase taxes and costs.
- Calculation of the total purchase budget before buying.
- Assistance with obtaining an NIE (Foreigner Identification Number).
- Mortgage and financing assistance, if required.
- Preparation and review of contracts.
- Coordination of the signing before the notary.
- Transfer or connection of water, electricity and internet services.
- Assistance with renovations, furniture and home furnishing, if desired.
- Property rental management, if you wish to rent out your property.
And we assist with many other procedures related to buying a property in Spain.
Buying a property in Spain is a straightforward process when you have the right guidance. Our team supports you every step of the way to ensure everything is clear, safe and efficient.
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