The steps
- Get your NIE. The número de identidad de extranjero is the tax identification number every foreign buyer needs. Your lawyer can apply for it on your behalf.
- Open a Spanish bank account. It is used to pay the purchase and, later, local taxes and bills by direct debit.
- Reserve the property. A reservation deposit takes the home off the market while your lawyer checks it.
- Legal checks. Your lawyer confirms the owner, that there are no debts or charges on the property, and, for a new build, the building licence and the developer’s guarantees.
- Private purchase contract. For a resale this usually comes with a deposit of about 10%. For a new build, you pay in stages during construction.
- Completion at the notary. You (or your lawyer, with a power of attorney) sign the deed, pay the balance and receive the keys.
- Registration. The deed is registered at the Land Registry and the utilities are put in your name.
Buying a new build off-plan
Off-plan purchases are paid in stages: typically a reservation deposit, then a percentage on signing the contract and further payments during construction, with the balance on completion. Spanish law requires the developer to guarantee every payment you make before completion with a bank guarantee or insurance, so your money is protected if the home is not delivered. Your lawyer should check that each payment is covered.
We follow the build for you and send you progress photos along the way.
Taxes and purchase costs
What you pay on top of the price depends on whether the home is new or a resale, and on the region.
| Costa Blanca (Valencian Community) | Murcia region | |
|---|---|---|
| Resale | Transfer tax (ITP): 9% (11% above €1 million) | Transfer tax (ITP): 7.75% |
| New build | VAT (IVA): 10% + stamp duty (AJD): 1.4% | VAT (IVA): 10% + stamp duty (AJD): 1.5% |
On top of the taxes, allow for the notary, the Land Registry and your lawyer’s fee (often around 1% of the price plus VAT). As a rule of thumb, budget 11–14% on top of the purchase price. A Spanish mortgage adds its own set-up and valuation costs.
The Valencian Community lowered its transfer tax from 10% to 9% on 1 June 2026. Rates change from time to time, and reduced rates exist for some buyers, so your lawyer will give you the exact figure for your purchase.
Mortgages
Spanish banks lend to non-residents, usually up to 60–70% of the price or valuation, whichever is lower. We can put you in touch with banks and mortgage brokers we work with.
Once you own the home
Expect yearly local property tax (IBI), community fees for the shared areas, and, if you don’t live in Spain, an annual non-resident income tax return. A local accountant or gestor can take care of these for you.
This guide is general information, not legal or tax advice. Rates as of September 2026.