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Spain Real Estate
Spanish Real Estate
Understanding Spanish Law relating to Real Estate
This guide will cover a wide range of aspects surrounding the law governing in Spain, highlighting the things you should be aware of before purchasing Spanish property, and how Giambrone & Partners can help.
Frequently Asked Questions about Buying Property in Spain
Do I need a NIE number to buy property in Spain?
Yes, non-residents usually require a NIE (Número de Identificación de Extranjero) to purchase property, pay taxes, open utility accounts, etc.
What costs should I expect when buying real estate in Spain?
Aside from the purchase price, expect costs such as property transfer tax (or VAT if new build), notary fees, land registry fees, legal fees, and possibly mortgage arrangement fees.
Can I arrange a mortgage in Spain as a non-resident?
Yes, many banks offer mortgages to non-residents, but terms (interest rate, down-payment needed, loan-to-value) can be less favourable than for residents.
What checks are necessary before buying a property?
It’s important to check: legal ownership/title, whether there are any debts/charges (community fees, property taxes), planning permissions, licences, and any restrictions (e.g. on land use or renovations).
What is the “comunidad de propietarios” and what are community fees?
This is the homeowners’ association; community fees cover shared maintenance, cleaning, gardening, insurance of common areas, etc. You should get details and proofs of payment for past years.