Guide
Buying property in Spain
Buying a home on the Costa del Sol is safe and straightforward once you know the steps. Here is the route from first idea to keys in hand.
1. Clarify your needs and budget
We start with what you are looking for, which areas suit you and your total budget. Remember to budget for purchase costs on top of the price – typically 10–13%, depending on whether you buy a new-build or a resale property (see below).
2. NIE number and a Spanish bank account
You need an NIE, the Spanish tax identification number for foreigners, before you can sign at the notary. In practice you will also need a Spanish bank account for the purchase and for running costs such as utilities, community fees and local taxes. We help you get both in place.
3. Viewings and shortlist
We put together a shortlist that matches your brief and arrange viewings – in person or by video. On the Costa del Sol, the location within an area matters as much as the area itself, and that is where local knowledge makes the difference.
4. Reservation and offer
When you have found the right property, we negotiate on your behalf and take it off the market with a reservation agreement and a small deposit while the legal checks are carried out.
5. Legal due diligence
An independent lawyer checks that the seller owns the property, that it is free of debts and charges, and that licences, plans and documentation are in order before anything binding is signed.
6. Contract and completion
A private purchase contract is signed, usually with a payment of 10% of the price. On completion, the deed (escritura) is signed before a notary, the balance is paid and you receive the keys. The deed is then registered in your name at the Land Registry.
Purchase costs at a glance
The taxes you pay depend on whether the property is new or a resale. As a rule of thumb, set aside 10–13% on top of the purchase price.
- Resale property: Property transfer tax (ITP), currently 7% of the price in Andalusia.
- New-build property: VAT (IVA) of 10% of the price, plus stamp duty (AJD), currently 1.2% in Andalusia.
- For both: Notary and Land Registry fees, legal fees (often around 1% of the price) and, if you take out a mortgage, bank and valuation costs.
Financing and buying from abroad
Spanish banks lend to non-residents, but usually at a lower loan-to-value than to residents, so plan for a larger share of equity. You do not have to be in Spain for every step: with a power of attorney, your lawyer can sign on your behalf.
What we do for you
We are a Scandinavian estate agency based on the Costa del Sol. We help you find the right property, coordinate with the lawyer, bank and notary, and stay with you until the keys are in your hand. Our services are free for buyers – we are paid by the seller or the developer.
Talk to usThis page is general guidance, not legal or tax advice. Rates and rules change, so check the details for your own situation with a lawyer – or get in touch and we will point you in the right direction.