FAQ

FAQ: Buying Property in Spain

Can foreigners buy property in Spain?
Yes, foreign buyers can legally purchase property in Spain without restrictions.
What documents do I need to buy a house in Spain?
You will need a NIE number (Número de Identificación de Extranjero), passport, and proof of funds or mortgage approval.
How much tax do I pay when buying property in Spain?
Taxes vary by region, but you can expect to pay between 8–10% of the purchase price in taxes and fees.
Do I need a Spanish bank account to buy property?
Yes, opening a Spanish bank account is recommended for paying taxes, utilities, and mortgage payments
How long does it take to buy a property in Spain?
The process typically takes 6–12 weeks from reservation to final signing at the notary.
Is it better to buy a new build or resale property in Spain?
Both have advantages. New builds come with modern finishes and guarantees, while resales can offer better locations and lower prices. Red Rose Property Spain can help you explore both options.
What are the additional costs when buying in Spain?

Besides the purchase price, you need to budget for:

  • Transfer tax or VAT (for new builds)

  • Notary fees

  • Land registry fees

  • Legal fees

Can I get a mortgage in Spain as a foreigner?
Yes, most Spanish banks offer mortgages to non-residents, typically up to 60–70% of the property value.
Should I use a lawyer when buying property?
Yes, we always recommend hiring an independent lawyer to protect your interests and check all legal aspects.
What is the Golden Visa and can I get one by buying property?
If you invest more than €500,000 in Spanish real estate, you may qualify for the Spanish Golden Visa, allowing you to live and work in Spain.
Can I rent out my property in Spain?
Yes, but you may need a tourist rental license depending on the region. We can advise you on this process.
What is the deposit for a mortgage in Spain?

Usually, non-resident buyers must provide at least a 30% deposit, often up to 40%, due to a maximum LTV of 60%–70%

Can foreigners get a mortgage in Spain?

Yes! Foreigners can get a Spanish mortgage, provided they meet income, credit, and documentation requirements.

Which documents will I need for my mortgage application?

You’ll need a valid passport, NIE, proof of income (payslips, tax returns, bank statements), credit report, employment contract or letter, and sometimes property details including valuation reports.

How long does it take to get a Spanish mortgage?

Most applications take four to six weeks. The timeline may change depending on the completeness of your paperwork and the bank’s requirements.

What are the mortgage rates in Spain in 2025?

For non-residents, rates usually vary between 3% and 5%. Higher rates may apply for high LTV loans or if your financial profile is less strong.

Will I need to open a Spanish bank account?

Yes, a Spanish bank account is required to pay the mortgage, taxes, and utilities.

Why Work With Red Rose Property Spain?

Red Rose Property Spain guides you at every step, ensuring a smooth mortgage process. Our expertise connects you to trusted banks, mortgage brokers, and legal professionals. Rely on us for the latest information, reliable partnerships, and transparent service. Let us help you unlock your dream home in Spain!

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