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American Buying Property In Spain

Buying a property is a big and exciting step, but navigating the system in a new country can be a challenge. Luckily, buying your dream home in Spain should be fairly straightforward if you follow these steps, and source the right local help if you need it.

american buying property in spain


The Spanish property market has many quirks, and it pays to do your research before buying a home in Spain. Knowing what to expect when buying property in Spain can help avoid any pitfalls of setting up your life abroad. Factors to be aware of when buying Spanish property include property scams, high capital gains tax, and fluctuations in the Spanish real estate market.

The only thing you need when buying a property in Spain as a foreigner (in legal terms) is the NIE (Número de Identificación del extranjero). This number, which is unique to each individual, is essential to carry out any transaction in Spain. Since it must appear on all documents that you sign or are issued in Spain, you must have it before signing the deed. The NIE is not complicated to obtain, but it does take a long time; ask your real estate agent to make it easier for you to obtain the NIE in order to speed up the process as much as possible.

Yes! If you are British and you are thinking of buying a house in Spain to retire you are still allowed to do so. However, you will be subject to the Non-EU regulations, which make the path of buying property in European Countries a little bit more complicated. Applying for a Spanish Non Lucrative Visa might speed the process of purchasing the house.

When buying a resale property (a property that has changed hands at least once) you will be required to pay the Transfer Tax or ITP in Spanish, that is levied on a sliding scale depending on the purchase price.

Hello and thank you for such great information and guides to buying properties in Spain.I would like to know in order for a foreigner to apply for NIE, for the purpose of buying a property in Spain, does the applicant have to present a signed purchase contract from the seller or the real estate agent as the reason for applying for NIE?Thank you in advance,Ali Jannati

HiMy husband and I have lived in Cyprus for 22 years but want to sell our property here and buy in spain. We have residency here and on the national health scheme. Do we still have to reapply for all this again in spain. ThankyouBarbara.

Hello,I am a German resident , working as dentist. I want to buy a property in Mallorca. I have enough money to pay for more than 35 percent forthe property I choosed to buy. Can you please contact me so I can ask you about the next steps for this. Or is it possible to take mortgage from a spain bank?

Hey!Im from Morocco and would like to buy a flat in spain around 50k Euro , is this will guarantee me a residency card?Can i buy a property in spain when the only way to enter spain is by tourist visa?

can americans buy property in spain? What do I have to do? I am in love with Ibiza and I would like to buy a property there to spend 4-5 months there, can you help me with the whole process? I would like your advice on the whole process of buying my summer house.

Hello! I am a citizen from Georgia and would like to buy an average flat in Spain. I wonder what are the steps I will have to follow and if there is some restriction on buying apartment for non-EU residents. Also, what are the documents I will need for buying the property.

I share this story because when buying a property overseas, you must be clear about your objectives. The preeminent question should be whether you are buying primarily as an investment or as a lifestyle purchase. Unless you are clear on your intentions from the start, you will end up wasting your time, and missing out on potential purchases.

There are many reasons expats are buying property in Spain: some want to move here, some are looking for a second home and some think of it as an investment opportunity. One motivating factor for many Americans is the increased purchasing power of the US dollar. The US dollar to Euro exchange rate has changed tremendously over past 18 months; today a property is 20% cheaper than it was in January of last year. This is a huge difference, making a real estate purchase in Spain even more attractive. But, how do you know which are the "good" properties? How can you make sure you don't overpay? Which agencies are trustworthy?

You can learn more about how INSPIRE Property Experts can help you find your dream home on the website at and you can follow on social media for the latest updates on Twitter @INSPIREexperts, Facebook @inspirepropertyexperts, Instagram @inspirepropertyexperts, LinkedIn and YouTube.

Furthermore, we developed a checklist that will guide you during the procedure. The checklist contains all the issues you should consider before buying a property, and you can have access to it here.

My bank in Spain from whom we are buying a repossessed house to retire in is asking for my and my wives complete employment history and proof of National Insurance and tax deductions? We are both 58 and buying the property cash from the proceeds of our UK house sale. Proof has been given of the UK house sale and thus the money to buy the property in Spain is not through illicit means.Is this a legal requirement?

3. Not Being Financially Prepared Buying a property in Spain can be incredibly expensive, and one of the most common pitfalls of buying a property in Spain is not being financially prepared for the extra costs involved in the process. As well as the property purchase price, you also need to allow enough funds to cover the associated taxes, legal fees, and any related estate agent fees too. Removal costs and the costs involved in furnishing your new Spanish home can also add to the amount of additional funds you will need to have to make your move as easy and comfortable as possible.

Spain welcomes American citizens and retirees on its soil with ease and little Spanish bureaucracy. Because of its incredible diversity and cheap costs of living, those who plan to retire in Spain can actually benefit from an outstanding financial opportunity, especially if they consider buying property in Spain at this time.

Whether you are looking to live by the sea off the Southern coast, reside in the mountains in the North of Spain, or settle down anywhere in the countryside, the country has it all. The property market in Spain is continuously thriving, and there are no restrictions on foreigners buying Spanish real estate.

There has never been a better time than now for buying property in Spain. With property prices going down, and the US dollar soaring in comparison to the Euro, the prospect has never been more attractive or affordable for investors all across the world. Purchasing a property in Spain is a fantastic life investment that yields incredible returns due to the high demand for short-term rentals, and simultaneously provides you with residency rights as well.

There are examples in Europe as well. In Spain, the tourist hotspot of the Balearic Islands is pushing ahead with plans to ban non-residents from buying property. The islands are the most expensive place to buy property in Spain, even more so than the capital Madrid.

Switzerland has had similar but more restrictive regulations since the 1960s, which largely prevent non-resident foreigners and non-EU citizens living in Switzerland without a long-term permit from buying residential property.

Statistically, Britons are rushing to Spain to acquire properties and makeup to 14% of foreign buyers in the country. Not even Brexit could put them off. To most of them, buying a property abroad is a lifestyle. Other European, Asians, and Americans are following suit.

With this in mind, you can live anywhere in Spain, from its coastal regions such as the beautiful Costa del Sol where you can find cities like Marbella, Malaga, Mijas to other inland cities like Granada and Seville. The country extends its boundaries to the Mediterranean and Atlantic. If you are a lover of shores, you can choose the Canary or the Balearic Islands. You can also move inland to the countryside. Residential properties here range from the village houses (Fincas) to country estates to upmarket Fincas. The great news about buying a house in spain is that they have plenty of lands to maximized for other purposes such as farming or recreation. There are also incredible landscapes like valleys, mountains, and rivers if you love nature.

The document is a deed to show rules that govern buying property in spain, especially on horizontally owned buildings. These restrict endless problems common with apartments and gated communities. They can include pet ownership, upgrading your drainage, changing your roof, and others.

Buying a house with an existing mortgage is a complicated process. Watch out for that because the process involves pending interest rates with banks, among other procedures. There are many houses that you can choose from that are mortgage-free. Sometimes, you may find that the only available option is buying a house in Spain with an attached mortgage. With the help of an excellent property attorney who understands Spanish property law, you can go through the processes smoothly.

An important note is that if you are buying a house in spain with existing debt, it is risky as a liability for you. That automatically makes you liable. Be sure to check out if there are any other debts besides the mortgage. If any, they should be discussed and included in the contract document. Many foreign buyers have fallen prey to this trick where they end up paying for hidden debts from the initial contract document. 041b061a72


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