Any foreigner can buy property in Spain
There is no nationality restriction on buying property in Spain. Both EU and non-EU citizens can purchase real estate. What differs are the residency requirements and tax formalities.
Essential documentation
NIE (Foreign Identification Number)
Mandatory for any financial transaction. Apply at the Spanish Consulate in your country or at a National Police station in Spain.
Spanish bank account
Required for paying taxes, utilities (water, electricity, gas), community fees and the mortgage.
Independent lawyer
While not legally required, it is highly recommended to hire a lawyer specialising in property law to check for debts, charges and the legality of the property.
Taxes and purchase costs in the Valencia Region
Resale property
| ITP (Transfer Tax) | 10% of the declared price |
| Notary fees | 0.5% - 1% |
| Land Registry | 0.3% - 0.5% |
| Lawyer | ~1% |
| Plusvalía (municipal capital gains tax) | ~0.5% - 1% |
New build
| VAT (IVA) | 10% |
| AJD (Stamp Duty) | 1.5% |
Budget an additional 12% to 14% on top of the purchase price for all costs.
Annual taxes as a property owner
- IBI (Property Tax): annual municipal tax, generally EUR 300-1,500 depending on the cadastral value.
- IRNR (Non-Resident Income Tax): if you do not reside in Spain, you must declare an imputed income of 1.1% of the cadastral value, taxed at 19% (EU) or 24% (non-EU).
- Waste collection: municipal fee (~EUR 100-200/year).
- Community fees: variable monthly fee depending on the development.
Golden Visa (minimum investment EUR 500,000)
For non-EU citizens, the Golden Visa grants Spanish residency for a minimum property investment of EUR 500,000 (free of charges). It includes a work permit and family reunification.
Important (2026): the Golden Visa programme is currently under review by the Spanish Government. Conditions may be modified or eliminated. Consult an up-to-date lawyer.
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