🇪🇸 Spain

Buying Property in Spain: A Guide for Foreign Buyers

Apartments in Spain cost from €2,800 to €5,500 per m² across the cities we track. Expect to pay another 8–14% of the price in taxes and fees.

Can foreigners buy property in Spain?

No restrictions for foreign buyers

There are no restrictions on foreign ownership for EU or non-EU buyers; a proposed 100% tax on non-EU non-resident buyers had not been enacted as of October 2026.

Tax ID you'll need: NIE

How to buy, step by step

  1. 1Obtain an NIE and open a Spanish bank account
  2. 2Sign a reservation agreement and pay a small deposit
  3. 3Sign the arras contract and pay a 10% deposit
  4. 4Lawyer checks title, debts and licences (nota simple)
  5. 5Sign the public deed (escritura) before a notary and pay the balance
  6. 6Pay ITP or VAT and register the deed at the Land Registry

What it costs

A 60 m² apartment in Madrid at the average €4,900/m² costs about €294,000. Purchase taxes and fees add roughly €23,520–€41,160. Full breakdown of Spain property taxes and costs.

Valencia€2,800/m² · gross yield 5.1%Malaga€3,200/m² · gross yield 5.3%Madrid€4,900/m² · gross yield 4.4%Barcelona€5,500/m² · gross yield 4.4%

Mortgages and residency

Approx. 60–70% LTV for non-residents.

The real-estate golden visa (€500,000) was abolished with effect from 3 April 2025; no new applications are accepted.

Frequently Asked Questions

Can foreigners buy property in Spain?↓
There are no restrictions on foreign ownership for EU or non-EU buyers; a proposed 100% tax on non-EU non-resident buyers had not been enacted as of October 2026.
How much are buying costs in Spain?↓
Typically 8–14% of the purchase price for a resale apartment, including transfer tax, notary or legal fees and registration.
How much does an apartment cost in Spain?↓
Average prices range from €2,800/m² to €5,500/m² across 4 cities; in Madrid a 60 m² apartment costs about €294,000.
Can non-residents get a mortgage in Spain?↓
Approx. 60–70% LTV for non-residents.
Property prices in Spain →Apartments for sale in Spain →Rental yield calculator →

Last reviewed 2026-10. General information, not tax or legal advice: rates change and often depend on region and buyer status, so confirm with a local notary, lawyer or tax adviser. Sources: KPMG: Spain golden visa abolished (Flash Alert 2025-008), idealista: Regional property tax changes in 2026.