How buying a property works
On the Costa del Sol, from the first call to handing over the keys
Tell us what you are looking for
How buying works
One agency on your side
Buying an apartment or villa in Spain is safe and straightforward when you know what comes next and in what order. On this page you will find the whole process, from the first call to handing over the keys. For each step we explain what you do, what we do, how long it takes and what it costs.
We are Lucie and Radek Špreňar, and we guide you through the entire purchase. We are a family-run real estate agency. We have lived on the Costa del Sol all year round since late 2018 and are always on the buyer’s side. Buyers pay us no commission. Our fee is paid by the seller or the developer.
Agencies on the Costa del Sol share their listings and split the commission. We are members of the ReSales Online network, which includes more than 2,000 agencies. Send us a link to a property you have found anywhere online and we will handle it for you. The price stays the same for you.
You can choose an independent lawyer yourself, or we can recommend the one we work with, from whom we take no commission. On the coast it is not unusual for agencies to receive commission from the lawyers they recommend. We deliberately do not, so that the lawyer looks after your interests only. That means we have no reason to push you towards any particular property or anyone else.
At a glance
The purchase in five points
The essentials in one place. You will find more on each point further down the page.
- Buyers pay us no commission. Our fee is paid by the seller or the developer.
- Costs on top of the purchase price are roughly 8.5 to 9% for a resale property and roughly 12.5 to 13% for a developer project.
- A resale purchase usually takes around two months from reservation to keys. A developer project where ground has not yet been broken is handed over roughly 24 months after the building permit is issued. A project already under construction may be finished in just a few months.
- You can also buy remotely. Your lawyer signs on your behalf under a power of attorney, and one trip for viewings is enough.
- From the signing of the private purchase contract, every payment to the developer is covered by a bank guarantee or insurance in your name. For a resale property the reservation is paid into the lawyer’s account and the seller only receives the balance at the notary.
Developer project and resale side by side
| Developer project | Resale | |
|---|---|---|
| Who you buy from | The developer. An apartment or villa under construction or close to completion. | The current owner. |
| Reservation | Usually €6,000 to €12,000, sometimes more. It goes to the developer and counts towards the first payment. | From €6,000 up to roughly 1% of the price. It goes to the lawyer’s account. |
| Binding contract | Private purchase contract, with up to 30% of the price including the reservation, plus VAT. | Deposit contract (arras) 2 to 4 weeks after the reservation, 10% of the price. |
| Balance at the notary | The rest of the price, usually 70%, plus VAT. | 90% of the price. |
| Taxes on purchase | VAT 10% and stamp duty (AJD) 1.2%. | Transfer tax (ITP) 7%. |
| How long | Around 24 months from the building permit if ground has not yet been broken. For a project already under construction, just a few months. | Usually around two months from the reservation. |
| Protecting your money | A bank guarantee or insurance in your name for every payment. | Legal checks before the deposit, and the balance only at the notary, at the same moment as signing. |
| Checking the property | A joint inspection, if you wish with a technical specialist or an architect. Defects are covered by a guarantee. | On the morning of the signing at the notary we walk through the property and its furnishings. |
| Guarantees after purchase | By law 10 years for the structure, 3 years for installations, 1 year for finishing work. | The seller is liable only for hidden defects. |
Common steps
Seven steps that start every purchase
The first seven steps are the same for a developer project and a resale property. Some run in parallel, for example the NIE number and the bank account are arranged during the legal checks.
First call
We talk about what the property is for and how you picture life here. Whether you want to live right by the sea or a little further away, when you will come, whether alone or with family, and whether you plan to rent it out. Then your budget, financing and when you would like to have the keys.
- What you do
- You tell us what you have in mind, your budget and whether you are planning on a mortgage.
- What we do
- We explain the process and the costs, tell you what we can find in that area and price range, and recommend whether a developer project or a resale property suits you better. Sometimes we combine both.
- What it costs
- Free of charge. By phone or online.
Property selection
From everything on the market we pick developer projects and resale properties that match your brief. We also add a few options slightly above your budget, so you can see what a little more money gets you.
- What you do
- You go through the selection, tell us what you like and what you do not, and send us any listings you have found yourself.
- What we do
- We check with the sellers and developers that each property is still available and at what price. For a developer project we always track down the specific unit. Renderings usually show the most expensive apartment in the project, while the “from” price belongs to the cheapest unit. Then we draw up a viewing plan.
- What it costs
- Free of charge.
Viewings
You fly to the Costa del Sol and we visit the shortlisted properties together. We can fit in five to eight a day, but fewer than six is better, so that you remember what you have seen. We usually end the day at a restaurant, where we talk through at leisure what you liked.
- What you do
- You book your flight and accommodation. During viewings you can ask about anything.
- What we do
- We plan the route, drive you around, show you the area and tell you openly what we like and dislike about each property. For example, where the sun shines or whether there will be building work nearby.
- What it costs
- Viewings are free of charge. You only pay for your own travel and accommodation.
Negotiating price and terms
Once you have chosen, we pass your offer to the seller or the developer. A developer has a fixed price list and discounts are the exception rather than the rule, most often on the last units in a project. It is easier to negotiate the payment schedule or the furnishings. With a resale property it depends mainly on the seller.
- What you do
- You tell us how much you want to offer and what matters to you, for example the handover date or the furnishings.
- What we do
- We negotiate the price and the terms, meaning what stays in the apartment, when you get the keys and how payment will be made.
- What it costs
- Free of charge.
Lawyer and power of attorney
Before the reservation you choose an independent lawyer, or we recommend the one we work with. The lawyer takes care of the legal side of your purchase.
Under Spain’s anti-money laundering law (Ley 10/2010), the lawyer verifies your identity and prepares a power of attorney that allows them to deal with the authorities and sign contracts on your behalf. For a developer project the developer sometimes wants it before the private purchase contract is signed. For a resale property it is enough to have it before signing at the notary.- What you do
- You sign a client agreement and a power of attorney with the lawyer. You sign the power of attorney at a notary in Spain, ideally during your viewing trip, or at a notary in your home country. A power of attorney signed outside Spain usually needs an apostille and a sworn translation into Spanish.
- What we do
- We explain everything to you and interpret at meetings whenever needed. We take no commission from the lawyer, so we only recommend someone who will defend your interests well.
- What it costs
- The lawyer’s fee is usually 1% of the purchase price including VAT, and it covers opening a bank account. You pay the notary for certifying the power of attorney according to their fee scale.
Reservation
With a reservation contract you take the property off the market and secure the agreed price. A reservation is usually valid for 2 to 4 weeks, roughly as long as the legal checks take.
- What you do
- You sign the reservation contract and send the reservation deposit.
- What we do
- Together with the lawyer we check the reservation terms, meaning who receives the money, how long the reservation is valid and when the deposit is refunded. You will find more below in the section on reservations and deposits.
- What it costs
- For a resale property from €6,000 up to roughly 1% of the price, paid into the lawyer’s account. For a developer project usually €6,000 to €12,000, sometimes more, paid to the developer. The deposit is later deducted from the purchase price.
NIE number and bank account
To buy you need a Spanish foreigner identification number (NIE) and an account with a Spanish bank. Thanks to the power of attorney you do not have to go anywhere to get them.
- What you do
- You provide a copy of your passport or ID card and the documents the bank asks for, typically proof of income and of the source of funds.
- What we do
- The lawyer arranges both the NIE and an account with Banco Sabadell. We make sure everything is ready in good time before further payments.
- What it costs
- The official fee for issuing an NIE is €9.84, and arranging the NIE is charged separately. Opening the account is included in the lawyer’s fee, and account charges follow the bank’s fee schedule.
Developer project
Developer project from reservation to keys
In a developer project you buy an apartment or villa from the developer that is still being built or is close to completion. You pay in stages, with the main part only at handover. This is how most of our clients buy.
The property needs no renovation, prices at the start of sales tend to be attractive and payments are spread out, up to 30% with the private purchase contract and the rest at handover, which depending on the construction stage comes in a few months or in roughly two years.
Project checks
The lawyer verifies the building permit (licencia de obra), the ownership and classification of the land, the developer’s track record and that the developer has a bank guarantee or insurance for your payments.
This obligation is imposed by the Building Act (Ley 38/1999). If the developer does not start or does not finish construction on time, you get the money you paid back with interest.- What you do
- Nothing, you just wait for the result.
- What we do
- We check that the floor plan, materials, fittings, parking and storage room in the documentation match what the developer promised you.
- What it costs
- It is part of the lawyer’s fee.
Private purchase contract
You sign a private purchase contract (contrato privado de compraventa) with the developer. It sets the price, the completion date and the payment schedule.
Andalusian consumer protection rules (Decreto 218/2005) require the developer to give you the property documents at least 3 working days before the purchase contract is signed.- What you do
- You sign the contract in person, or your lawyer signs on your behalf under the power of attorney. You pay up to 30% of the price, and the reservation counts towards this amount. Some developers split this amount into several instalments during construction.
- What we do
- Together with the lawyer we check the payment schedule, the deadlines, what happens if construction is delayed, and that there is a bank guarantee certificate in your name for every payment.
- What it costs
- VAT of 10% is added to the payments and is paid with each deposit.
Construction
The developer builds. If ground has not yet been broken, allow roughly 24 months from the issue of the building permit. Every project is at a different stage, though, and one already under construction may be finished in a few months. Delays of several months do happen, which is why the date in the contract counts, not the one in the brochure.
- What you do
- You pay the instalments according to the schedule and, where offered, choose from the available finish options. Changes are cheaper during construction than afterwards.
- What we do
- We visit the site to see how construction is progressing, send you photos and updates, and take up your questions with the developer.
- What it costs
- Nothing extra, just the instalments according to the schedule.
Completion and inspection
The building receives its completion documents, namely the architect’s certificate of completion (certificado final de obra) and the first occupation licence (licencia de primera ocupación). Without the first occupation licence nobody may live in the apartment, and utility companies usually will not connect water or electricity.
- What you do
- You come to the inspection with us, or leave it to us.
- What we do
- We walk through the apartment with you, or on your behalf, and raise anything we find with the developer straight away.
- What it costs
- Free of charge.
Signing at the notary and keys
The purchase deed (escritura) is signed at the notary and you become the owner. If you are buying with a mortgage, it is signed on the same day.
- What you do
- You pay the remaining 70% of the price plus VAT, and pay the stamp duty. You can attend the notary, but you do not have to.
- What we do
- We are at the notary together with the lawyer. If snags covered by the guarantee appear after you receive the keys, we make sure the developer fixes them.
- What it costs
- VAT 10%, stamp duty (AJD) 1.2% in Andalusia, notary and registration at the Land Registry.
Resale
Resale property from reservation to keys
With a resale property you buy from the current owner. The whole purchase from reservation to keys usually takes around two months. We mainly recommend resale on the first and second line by the sea, where there are few developer projects and any renovation is worth it.
Legal checks
The lawyer requests an extract from the Land Registry (nota simple) and checks the owner, charges and debts, payment of the property tax (IBI), the community of owners fees and that the building is permitted.
When a property is sold through an agency, Andalusian rules (Decreto 218/2005, Article 10) require the agency to give you an information sheet. It states the owner, charges and floor area according to a Land Registry extract no more than 3 months old, as well as the community fee and proof that the property tax has been paid.- What you do
- Nothing, you just wait for the result.
- What we do
- We go through the result with the lawyer and tell you whether everything is in order or what needs to be resolved. If the checks turn something up, the reservation deposit is refunded.
- What it costs
- It is part of the lawyer’s fee.
Deposit contract (contrato de arras)
After the legal checks you sign a deposit contract with the seller and pay 10% of the price, less the reservation.
The usual form of this contract (arras penitenciales, Article 1454 of the Civil Code) follows a simple rule. If you pull out of the purchase, you lose the deposit to the seller. If the seller pulls out, they pay you back double the deposit.- What you do
- You sign the contract in person or through your lawyer, and send the deposit.
- What we do
- We make sure the contract explicitly states the type of deposit, the date for signing at the notary, the inventory of furnishings and the terms we agreed. If you are buying with a mortgage, it is worth covering in the contract what happens if the bank does not approve it.
- What it costs
- The 10% is part of the purchase price, nothing extra.
Inventory of furnishings
A list of what stays in the apartment is attached to the contract, for example furniture, appliances or lamps.
- What you do
- You tell us what should stay in the apartment.
- What we do
- We draw up the list and make sure the seller signs it.
- What it costs
- Free of charge.
Signing at the notary and keys
The purchase deed (escritura) is signed at the notary, the balance is paid and you become the owner. If the seller is not tax resident in Spain, the law requires 3% of the price to be withheld, and the lawyer pays it to the Spanish tax authority within a month (form 211). This is not an extra cost but part of the purchase price.
- What you do
- You send the balance, the remaining 90% of the price, to your Spanish account or to the lawyer’s account. You can attend the notary, but you do not have to.
- What we do
- On the morning of the signing we walk through the property with you, or on your behalf. We check that the agreed furnishings are still there and that its condition matches what was agreed. We are at the notary together with the lawyer and hand you the keys right after signing.
- What it costs
- Transfer tax (ITP) 7% in Andalusia, notary and registration at the Land Registry. By law, the municipal tax on the increase in land value (plusvalía) is paid by the seller.
Reservation and deposits
When a deposit is refunded and when it is lost
No law sets out what a reservation contract must contain. Under Article 1255 of the Civil Code (Código Civil) the parties agree on it themselves, and you are then protected only by what the contract actually says. That is why we always read it with the lawyer before you send any money.
What a reservation contract must contain
| Clause | Why it matters |
|---|---|
| Refund of the deposit | When you get the deposit back, especially if the lawyer finds a problem during the checks. This is the condition most often missing from reservation contracts. |
| Deposit amount and account | The amount and the number of the account you send it to. The seller’s private account is out of the question. |
| Validity | A specific date when the reservation ends, usually in 2 to 4 weeks. |
| Exact property | The address and cadastral reference or the Land Registry description. For a developer project, the unit number, floor and orientation. |
| Seller pulling out | The rule on paying back double applies to a deposit contract, not to a reservation. If the seller changes their mind, they only face the penalty the contract explicitly states. |
| Language | Reservation contracts are usually in Spanish or English. We go through the contract with you before signing and explain everything. |
Who holds the reservation deposit
| Who holds the deposit | Risk | What to watch out for |
|---|---|---|
| The developer | Highest, but standard practice for a developer project. | A bank guarantee is not usually issued for the reservation, so only the contract protects it. You get all your money back if the problem lies with the developer, for example if the project is not being built or is postponed. If you change your mind, you lose all or part of the reservation, depending on the developer’s terms. |
| Your lawyer | Lowest. The money is held in a client account, separate from the firm’s own funds. | This is where reservations for resale properties go with us. If the checks reveal a problem, the money is refunded. |
| The seller’s agency | Medium. The agency’s interest is in making the sale. | Get written confirmation of which account you sent the deposit to. |
Three types of deposit for a resale property
| Type of deposit | What applies | How common |
|---|---|---|
| Arras penitenciales | If you pull out, you lose the deposit. If the seller pulls out, they pay back double. Governed by Article 1454 of the Civil Code. | The most common form. |
| Arras confirmatorias | The deposit is simply part of the price. If one party pulls out of the purchase, the other can go to court to enforce completion of the sale. | Less common. That is why the contract must state the type of deposit explicitly. |
| Arras penales | Whoever pulls out pays a contractual penalty, and the other party can still insist on completing the sale. | Rare. |
The deposit under a deposit contract is usually 10 to 20% of the price, with us usually 10%. No deposit contract is signed for a developer project. The reservation is followed by a private purchase contract under the Building Act (Ley 38/1999 as amended by Ley 20/2015). If you find a reference to Law 57/1968 in a contract, it is an old regulation that was repealed on 1 January 2016.
Legal checks
What the lawyer checks
Before the binding contract an independent lawyer goes through roughly fifteen points. It takes 2 to 4 weeks and is part of their fee. At the signing the notary only verifies identity and the Land Registry entry. The deeper checks are the lawyer’s job.
For every property
| What the lawyer checks | Why |
|---|---|
| Legality of the building | The lawyer compares what stands on the plot with the permit and the registry entry. The most common findings are extensions and alterations that nobody registered. |
| First occupation licence (licencia de primera ocupación) | You may only legally live in the property with it. |
| Land Registry and tax cadastre in agreement | The Registro de la Propiedad and the Catastro should describe the same property. They often differ, and this can usually be put right, but it is better to sort it out before signing. |
| Owner | In the nota simple extract the lawyer verifies that the seller really is registered as the owner in the Land Registry (Registro de la Propiedad). Nobody else may sell. |
| Charges, seizure orders and easements | Whatever is registered stays with the property after the sale. The previous owner does not take it with them. |
| Coastal protection zone | For properties close to the sea, the lawyer checks that they do not encroach on the zone protected by the Coastal Act (Ley de Costas). It is usually 100 metres from the shoreline boundary, and often narrower in areas already built up before 1988. |
| Debts to the community of owners | The new owner is also liable for unpaid fees from the current year and the three previous calendar years (Horizontal Property Act, Ley 49/1960, Article 9). A certificate from the community administrator is therefore required before signing. |
| Property tax (IBI) and municipal charges | These also go with the property. Proof of payment must be ready before signing. |
| Community statutes and minutes of meetings | They show whether the building restricts use or holiday rentals and whether any extraordinary levies are planned. |
Additionally for a developer project
| What the lawyer checks | Why |
|---|---|
| Bank guarantee | A separate certificate in your name for every payment. A general statement covering the whole project is not enough. |
| Building permit (licencia de obra) | Without a permit no building may take place. If it were missing, that would be the most serious finding of all. |
| Land classification | It must be urban building land (suelo urbano). It may not be protected or agricultural land. |
| Completion date | The date in the contract applies. If the developer misses it, you can withdraw and get your money back with interest from the guarantee, or agree a new date with the developer. |
| Completion documents | The certificate of completion and the first occupation licence at the end of construction. This is the stage at which projects are most often delayed. |
| Developer | Who is building the project and what they have already delivered. |
Under Andalusian rules (Decreto 218/2005), you must receive the documents the developer provides before the purchase contract at least 3 working days in advance. The lawyer reviews them before you sign.
Safety of your money
How we protect your money
Spain has no notary escrow. Your money is protected by different rules for a developer project than for a resale property. Only the reservation has no legal protection. It is protected by the contract alone.
| Stage | Developer project | Resale |
|---|---|---|
| Reservation | To the developer. It is not usually covered by a bank guarantee, so only the contract protects it. | To the lawyer’s client account, separate from the firm’s own funds. |
| Binding contract and stage payments | Only into a special developer account for this project, kept separate by law from the developer’s other funds. A bank guarantee or insurance in your name for every payment. | A 10% deposit under the deposit contract, only after the legal checks. |
| Balance | At the notary, at the same moment as the purchase deed is signed. | At the notary, by banker’s cheque or a transfer agreed in advance. Money and keys change hands at the same moment. |
| If something goes wrong | If the developer does not start construction or does not finish it on time, they must refund the amounts you paid plus VAT and statutory interest. If they do not pay within 30 days of being asked, the bank or insurer pays. The guarantee applies even if the developer goes bankrupt. | If the checks find a problem, the reservation is refunded. Once the deposit contract is signed, its rules apply. |
Bank guarantee certificate, what to check before every payment
- The certificate shows your name and your unit number. A general line in a brochure saying the “project is bank-guaranteed” is no substitute for a guarantee.
- The guaranteed amount covers everything you have paid so far, including VAT, plus statutory interest.
- You only send money to the special construction account stated in the contract. Never to a private account.
- Before each further instalment you have a certificate for the new amount, not only after paying.
- The completion date on the certificate is the same as in the purchase contract.
- The guarantee was issued by a bank (aval solidario) or an insurer (seguro de caución). The developer cannot issue it.
From our experience
All payments are made by bank transfer and can be traced. Twice we have seen construction delayed, and in both cases the clients got their money back. The guarantee only ends once the first occupation licence has been issued and the property handed over.
At the notary
Signing at the notary and handing over the keys
A notary is a public official and takes no one’s side. They check the documents of the buyer and the seller and a fresh Land Registry extract, read the purchase deed (escritura) before signing and send it electronically to the Land Registry the same day. They give no advice and do not comment on the price or the condition of the property. That is the lawyer’s job, and ours.
| What | How it works |
|---|---|
| Who attends the signing | The notary, the lawyer and us. You can attend, but you do not have to, as the lawyer signs on your behalf under the power of attorney. If you are buying with a mortgage, a bank representative also attends. |
| Language | If you do not understand Spanish, the deed must be explained to you in a language you understand. Formally, a sworn interpreter takes care of this. We also explain everything to you ourselves. |
| Fees | The notary charges according to the official state scale (Real Decreto 1426/1989), and registration follows the registrars’ scale (Real Decreto 1427/1989). Neither can be negotiated. At a price of €400,000 both together come to roughly €1,100 to €1,500, and for a €1 million property to around €1,500 to €2,000. The lawyer confirms the exact amount before signing. |
| Land Registry extract (nota simple) | It costs around €10. The notary also requests an up-to-date extract before signing. |
| Balance | By banker’s cheque (cheque bancario) or a transfer agreed in advance. The notary records in the deed how payment was made, and both the bank and the lawyer want proof of the source of funds. |
| On the morning of the signing | We walk through the property with you, or on your behalf. We check that the agreed furnishings are still there and that its condition matches what was agreed. The keys are only handed over after this check. |
| Keys and meters | We note the meter readings with the date and count all the keys, fobs and remote controls. In gated communities there are often more than in the first bunch. |
| First occupation licence | In a developer project, do not move in until the first occupation licence (licencia de primera ocupación) has been issued. |
| After signing | The tax is paid and the deed is registered in your name at the Land Registry. The lawyer oversees the registration. |
You can work out the costs for your price in our cost calculator.
Guarantees and defects
Guarantees after purchase and what to do about defects
With a developer project you are protected by the Building Act (Ley 38/1999, Article 17). The periods run from the acceptance of the building, not from your purchase. A resale property has no such guarantee. The seller is liable only for hidden defects.
| What | How long | What it means |
|---|---|---|
| Structure | 10 years | Foundations, columns, beams, floor slabs and load-bearing walls. The developer must insure this guarantee, and the insurance also covers later owners. |
| Installations and habitability | 3 years | Defects that mean the building fails to meet habitability requirements, for example leaks, noise or insulation. |
| Finishing work | 1 year | Paintwork, tiling, grouting and joinery. Most defects on the snagging list after handover fall here. |
| Making a claim | 2 years | From the moment the defect appears (Article 18). So record a defect as soon as you notice it. |
| Resale | Short period | The seller is liable only for hidden defects. That is why we check the property before signing, not afterwards. |
A technical survey is not compulsory when buying in Spain. The valuation the bank carries out for a mortgage (tasación) is not a check for defects, it only establishes the value of the property as collateral.
We do the check on the morning of the signing for a resale property, and the inspection of a developer project, ourselves and free of charge. And if you want complete peace of mind, we can arrange an inspection with a technical specialist or an architect. For an older property it is worth considering an independent surveyor before the deposit contract.
Costs
What buying costs on top of the purchase price
For a developer project you pay VAT, for a resale property transfer tax. Buyers pay us no commission.
| Item | Resale | Developer project | Note |
|---|---|---|---|
| Transfer tax (ITP) | 7% | not payable | Andalusia. The basis is the purchase price, or the reference value from the cadastre if it is higher. |
| VAT (IVA) | not payable | 10% | Applies to the apartment together with up to two parking spaces and a storage room sold with it. Also payable on every deposit. |
| Stamp duty (AJD) | not payable | 1.2% | Andalusia, calculated on the price excluding VAT. |
| Lawyer | 1% incl. VAT | 1% incl. VAT | The usual fee of an independent lawyer, which includes opening a bank account. |
| Notary and Land Registry | official scale | official scale | At a price of €400,000 roughly €1,100 to €1,500 together. |
| Issuing the NIE | €9.84 | €9.84 | Official fee per buyer. Arranging it is charged separately. |
| LUCKY SOL commission | €0 | €0 | Our fee is paid by the seller or the developer. |
| Approximate total | roughly 8.5 to 9% | roughly 12.5 to 13% | For cheaper properties the share of notary and registry costs is slightly higher. |
Example for a price of €400,000
| Item | Resale | Developer project |
|---|---|---|
| Tax | ITP €28,000 | VAT €40,000 |
| Stamp duty (AJD) | not payable | €4,800 |
| Lawyer | €4,000 | €4,000 |
| Notary and Land Registry | €1,100 to €1,500 | €1,100 to €1,500 |
| Total on top of the purchase price | roughly €33,100 to €33,500 | roughly €49,900 to €50,300 |
Also allow for the annual costs of ownership, roughly €4,000 to €8,000 a year. These include property tax (IBI), community fees, waste collection, insurance and the non-resident tax return. Depending on the size and features of the property, it can be more.
Financing
Mortgages and transferring money
If your income is not in euros, the simplest option is often a loan in your home country secured on property you own there. Spanish mortgages are available too, but with income in another currency they are harder to get, banks lend less and ask for a lot of paperwork. Clients with income in euros find it easier. We are happy to advise you and put you in touch with a trusted mortgage adviser.
All payments are made by bank transfer and must be traceable. The notary records in the purchase deed how payment was made, and both the bank and the lawyer want proof of the source of funds. Payments are in euros, so if your money is in another currency you will need to exchange it.
Exchange rates at banks and specialist currency providers can differ quite a lot, so it is worth comparing them before a larger payment. Every percentage point of difference in the rate means €4,000 on a €400,000 property.
After the purchase
After the keys are handed over
| What | How it works |
|---|---|
| Two months of assistance | Even after handover we help you with claims to the developer, recommend reliable tradespeople and services, and advise you on furnishing the apartment. |
| Turnkey apartment | We often hand clients a fully furnished apartment, including in developer projects. The furnishing is handled by interior designers we work with, and you simply collect the keys. |
| Cleaning, rentals and property management | If you will not be staying in the apartment all year, our family-run management company takes care of cleaning, rentals and property management. More on the page Short-term rental management. |
| Utilities and regular payments | Electricity, water, internet and insurance need to be transferred to your name. You regularly pay property tax (IBI), the waste collection charge and community of owners fees, which are typically around €150 to €600 a month. |
| Non-resident tax | If you do not rent the apartment out, you pay a tax once a year on so-called deemed income. For EU residents it is 19% of 1.1% or 2% of the cadastral value. With a cadastral value of €150,000 and the 1.1% rate you pay around €314 a year. If you rent the apartment out, you pay tax on the actual rental income. |
| Holiday rentals | Since 3 April 2025, a new holiday rental must be approved by three fifths of the owners in the building who also hold three fifths of the shares (Ley 49/1960, Article 17.12). If you want to rent it out, we check this before the reservation. |
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