Buy Sell Rent FinanceThe groupGroup

Contact usContact

Blog chevron_right 2026 buying guide

Guide

Buying in Spain as a foreigner: the complete 2026 guide

Published 12 July 2026·9 min read·By The Alveo team

Tens of thousands of foreigners buy property in Spain every year. Attractive prices, sunshine, readable taxes: the dream is real, but a Spanish purchase does not work like one at home. Here is the full journey, step by step, as our advisers practise it every week.

Contents Why buy in Spain in 2026? The 7 steps of a Spanish property purchase What budget should you plan? The arras contract, the step that secures everything Buying remotely from abroad The 4 traps to avoid

Why buy in Spain in 2026?

The Spanish market is growing at a controlled pace: +5.4% nationally year on year, with an average price around €2,090/m², less than half the price of major French or UK cities. Mortgage rates have stabilised around 3% and banks are once again keen to lend to non-residents.

Above all, Spain combines what few markets offer: a still-affordable coastline (Costa del Azahar, southern Costa Blanca), dynamic cities (Madrid, Valencia, Málaga) and solid year-round rental demand.

The 7 steps of a Spanish property purchase

From defining your project to getting the keys, allow 2 to 3 months once you have found the property.

1. Define the project and total budget (price + 10-14% costs)

2. Obtain the NIE, required for any transaction

3. Open a Spanish bank account

4. Search and visit, in person or by video

5. Make an offer and sign the arras contract (10% of the price)

6. Arrange financing if needed

7. Sign the escritura at the notary and collect the keys

What budget should you plan?

On top of the price, purchase costs run 10-14% depending on the region. The main item is the ITP transfer tax for resale properties, or 10% VAT for new builds.

Madrid: 6% ITP, total costs around 9%

Andalusia (Málaga, Marbella): 7% ITP, total costs around 10%

Catalonia and the Region of Valencia: 10% ITP, total costs around 13%

Notary, registry and gestoría: €1,500-3,000 depending on the property

The arras contract, the step that secures everything

The contrato de arras is a reinforced preliminary contract: the buyer typically pays 10% of the price. If the buyer withdraws, they lose that deposit; if the seller withdraws, they must repay it twice over.

This is when legal checks matter most: charges, planning, community debts, habitability certificate. The Spanish notary does not run them for you, that is your adviser's or lawyer's job.

Buying remotely from abroad

The whole process can be done without setting foot in Spain: video viewings, translated documents, and a notarised power of attorney, which can be drawn up abroad in a bilingual version, allowing your adviser to sign on your behalf, from the arras to the escritura.

The 4 traps to avoid

Signing arras without prior legal checks

Underestimating purchase costs (10-14% depending on the region)

Buying for holiday lets without checking the tourist licence

Overlooking non-resident tax (IRNR) after the purchase

Key takeaways

check No nationality requirement: you need an NIE and, in practice, a Spanish bank account

check Purchase costs: 10-14% of the price by region (6% ITP in Madrid, 10% in Catalonia)

check The arras contract is binding: 10% of the price, legal checks essential before signing

check A 100% remote purchase is possible via power of attorney

The Alveo team Alveo Group · Updated August 2026

A property project in Spain?

Talk to an Alveo adviser: reply within two business hours, in your language.

One team for your whole project

checkSearch & purchase
checkFinancing
checkSelling
checkRental management
checkInsurance

4.8

more than 1,300 Google reviews

6agencies

50+cities covered

Let’s talk about your project

Leave us your details and an adviser from your area will call you back.

Or call us directly

call+34 961 12 76 66 mailinfo@alveo.co

Reply within 2 working hours · Monday to Friday, 9am-7pm