Buying property in Spain — what you should know
By Nicole Beyer · 12 July 2026 · 8 min read
NIE numbers, the 10% you did not budget for, and the checks that matter before you sign anything.
Buying in Spain is not difficult, but it is different, and most of the unpleasant surprises we see come from assuming it works like home. Here is the shape of it.
Budget beyond the asking price
Plan for roughly ten to fourteen per cent on top of the purchase price. On a resale that is transfer tax — which varies by region and by price band — plus notary, land registry and legal fees. On a new build it is VAT at ten per cent plus stamp duty. This is the single most common budgeting mistake we see, and it is entirely avoidable.
The NIE number
A foreigner's tax identification number. You cannot complete a purchase without one, and applications take longer in high season than anyone expects. Start this early — it is administrative rather than difficult, but it sits on the critical path.
Instruct your own lawyer
Independent of the agent and independent of the seller. A competent Spanish property lawyer will check the nota simple for charges and debts, confirm the property is legally registered and matches what is physically built, verify the licence of first occupation, and confirm community fees and IBI are clear. This is not a formality on this coast — irregular extensions and unlicensed builds are real and they are the buyer's problem after completion.
New builds have their own checklist
Off-plan money should be protected by a bank guarantee or insurance policy, held in a designated account. Check the developer's licence and their record on previous phases. We do not recommend a development until both are verified — it is the least glamorous part of the job and the part that matters most.
The two-stage purchase
A reservation contract takes the property off the market for a small deposit. The private purchase contract follows, typically with ten per cent down, and it is binding — pull out without cause and you lose it. Completion happens at the notary, where the deed is signed and the keys change hands. From offer to keys is commonly eight to twelve weeks on a resale.
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