Buying property in Spain: a complete guide for international buyers

Why buy property in Spain?

Spain has long been popular with international property buyers. The EU legal framework, international demand and Costa del Sol lifestyle appeal to many buyers, but price and rental prospects must be assessed property by property.

Costa del Sol prices have risen in recent years while international demand remains material. Land-registry statistics for the first quarter of 2026 show foreign buyers accounted for 34.3% of home purchases in Malaga province. This is market context, not a guarantee of future capital growth or rental return.

Buying property in Spain: the process step by step

1. Obtaining a NIE number

The Numero de Identificacion de Extranjero (NIE) is your foreign tax ID in Spain. It is mandatory for every property purchase. You can obtain it at the Spanish consulate in Budapest or at a local police station on-site. We handle it for you.

2. Opening a Spanish bank account

A Spanish bank account is commonly practical for the purchase price, taxes and utility direct debits, and some parties may require one. Opening requirements vary by bank, buyer residency and source-of-funds evidence, so clarify this early in the process.

3. Selecting and reserving the property

Reservation amounts and refund conditions for new-build projects vary. Before paying, check the reservation document, building-licence status, special account and the individual protection that applies to that payment. Before reserving, clarify the equipment included in the price and any exclusions too: the guide to checking Spanish new-build specifications provides an itemised question list.

4. Signing before a notary

Spanish property purchases are completed before a notary. The contract sets out the payment schedule, bank guarantees and technical specifications. We translate and explain every document.

5. Payment schedule

For new-builds the deposit is typically 30-40%, with the remainder paid in staged instalments tied to construction milestones. The final balance is due at key handover, optionally via a Spanish mortgage.

6. Key handover and possession

Once construction is complete there is an inspection, followed by signing the final deed before the notary. Use our new-build property handover guide to check the documents, operational tests and snagging list. Then you receive the keys and can start furnishing or renting.

Additional costs for new-build Spanish property

When buying a new-build property in Spain, budget for:

• •VAT (IVA): 10% of purchase price
• •Stamp duty (AJD): 1.2%
• •Notary fee: approx. 800-1,500 euros
• •Land registry: approx. 400-800 euros
• •Legal fees: 1-1.5% of purchase price

Total additional costs amount to roughly 12-13% of the purchase price.

Bank guarantee: why it matters

From the point at which the building licence is obtained, Spanish law requires the developer to protect advance payments through insurance or a bank guarantee, including applicable taxes and statutory interest, if construction does not start or complete as contracted. Before paying, verify the special account and the individual guarantee document identifying the buyer and property.

To reconcile the individual documents and check the next instalment, read our checklist for bank guarantees and advance-payment protection on new-build homes.

Next step

If you are interested in buying property in Spain, request a free consultation. We get in touch within 24 hours to discuss your budget and goals.