The 10 Steps to Buying Property in Spain
Buying property in Spain follows a clear sequence. Miss a step and you risk delays, extra costs, or legal trouble. This guide walks you through every stage, from first research to collecting your keys.
Step 1: Get Your NIE Number
The NIE (Numero de Identificacion de Extranjero) is your Spanish tax identification number. You need it for every financial transaction in Spain, including buying property. Apply at a Spanish consulate in your home country or at a police station in Spain. Processing takes 1 to 8 weeks depending on location and season. Cost: approximately 12 EUR for the form plus a 15 EUR fee.
Step 2: Open a Spanish Bank Account
You need a Spanish bank account to pay taxes, utilities, and community fees. Most banks require your NIE, passport, and proof of income. Popular choices include CaixaBank, Sabadell, and BBVA. Budget 1 to 3 days for account opening.
Step 3: Define Your Budget and Get Pre-Approval
Spanish banks typically lend 60-70% of the property value to non-residents. Interest rates in 2026 hover around 3-4% for fixed-rate mortgages. Remember to add 10-15% on top of the purchase price for taxes and fees. Use our free calculator to estimate your total costs before you start viewing.
Step 4: Find Your Property
Work with a trusted estate agent who knows the local market. Visit properties in person. Check the orientation, noise levels, parking, and neighbourhood at different times of day.
Step 5: Make a Reservation and Pay a Deposit
Once you find your property, sign a reservation contract and pay 3,000-6,000 EUR to take it off the market. This gives your lawyer time to run checks.
Step 6: Legal Due Diligence
Your lawyer checks the Nota Simple (property register extract), confirms the seller is the legal owner, verifies there are no debts or charges on the property, and checks urban planning compliance.
Step 7: Sign the Arras Contract
The arras (private purchase contract) locks in the price and conditions. You typically pay 10% of the purchase price. If you pull out, you lose this deposit. If the seller pulls out, they must pay you double.
Step 8: Arrange the Mortgage (If Applicable)
Submit your mortgage application with property valuation. Spanish banks require an official tasacion (valuation) by an approved company. This costs 300-600 EUR. Approval takes 2-4 weeks.
Step 9: Sign at the Notary (Escritura)
Buyer, seller, and bank representative meet at the notary. The notary reads the deed aloud, confirms identities, and witnesses signatures. You pay the remaining balance plus all taxes and fees on this day.
Step 10: Register the Property
After signing, the deed is submitted to the Land Registry (Registro de la Propiedad). Registration takes 1-3 months. Once registered, the property is legally yours with full protection against third-party claims.
Total Costs to Budget For
- ITP (property transfer tax): 7% in Andalucia, 6-10% in other regions
- Notary fees: 0.5-1% of purchase price
- Land Registry: 0.3-0.5%
- Lawyer fees: 1-1.5%
- Gestor (administrative agent): 300-500 EUR
Plan for 10-13% in total additional costs on top of the purchase price. Getting organized early, especially your NIE and bank account, makes the entire process smoother.