Buying property in Spain is generally a straightforward process for international buyers, particularly on the Costa del Sol where the market is highly accustomed to foreign ownership. However, understanding the process properly is essential to ensure a smooth and secure transaction.
One of the first steps is obtaining an NIE number (Número de Identificación de Extranjero), which is required for any property purchase in Spain. Buyers will also typically open a Spanish bank account to facilitate payments and ongoing property expenses.
Working with an independent lawyer is strongly recommended throughout the transaction. A qualified lawyer will verify ownership, licenses, debts, urban planning compliance and contractual terms before completion.
Additional purchase costs should also be considered. Depending on whether the property is a resale or a new development, buyers should generally expect acquisition costs of approximately 10% to 13% on top of the purchase price, including taxes, legal fees and notary costs.
Financing is available for non-residents through Spanish banks, although conditions vary depending on nationality, income profile and financial structure. Many international buyers also choose cash purchases for simplicity and speed.