In 2023, buying a house in Spain as a foreigner still requires the following steps and requirements:
What are the requirements when buying a house in Spain? As a foreign national, you will need to obtain a NIE (Número de Identificación de Extranjero) number, which is a unique identification number for foreign citizens in Spain. You will also need to have a Spanish bank account to make payments for the property.
Process: The process of buying a property in Spain involves finding the right property, hiring a lawyer, making an offer, signing a contract, paying a deposit, and finalizing the sale by transferring the remaining balance and obtaining the title deed (escritura) from the notary.
Costs: The cost of buying a property in Spain will vary depending on the location, type of property, and the purchase price.
TAX AND BUDGET PLANNING BUYING A HOUSE IN SPAIN
Property transfer tax 6–10% (existing properties) / VAT (or IVA) at 10% (new properties)
Notary costs, title deed tax and land registration fee 1–2.5%
Legal fees 1–2% (including VAT)
It is also recommended to budget for property insurance, as well as any necessary renovations or upgrades. It is important to note that the process of buying a property in Spain may vary depending on your country of origin.