Buying Property in Spain in 2026: Key Information, Costs and Opportunities
A Guide to Buying Property in Spain for Foreign Buyers
There is something about Spain that makes many people eventually do more than simply holiday there - they decide to stay. The Mediterranean sunshine, relaxed lifestyle, excellent food and welcoming atmosphere create a way of life that is hard to find elsewhere. It is no surprise that more and more people dream of owning a seaside apartment, a charming house in the hills or a home in a historic city centre.
Whether you are looking for a holiday home, an investment property or a permanent residence, it is worth becoming familiar with the process of buying property in Spain. In this guide, we cover the most important points - from choosing the right region all the way through to receiving the keys.
Why Do So Many People Choose Spain?
Spain offers one of the highest standards of living in Europe. The cost of living is more favourable than in many Western European countries, the public healthcare system is of a high standard, and the transport infrastructure is extremely well developed. High-speed rail connects the major cities within a few hours, while regional airports make both domestic and international travel easy.
The real attraction, however, lies in everyday life. Morning coffee in the town square, shaded courtyards, long dinners over tapas, bustling markets and the rhythm of Mediterranean life all contribute to a less hurried and more balanced lifestyle.
Whether you would prefer cycling through Valencia's historic streets, relaxing at a thermal spa in Granada, or browsing local cheeses and jamón at the markets of San Sebastián, every region of Spain offers a different experience.
Residency Rules Have Changed
If you have previously looked into the options for moving to Spain, you have probably come across the Golden Visa programme. This previously allowed non-EU citizens to obtain a residence permit by purchasing property worth at least EUR 500,000.
However, this option was discontinued on 3 April 2025. It is important to note that this change affects only one route to obtaining a residence permit. Foreign nationals can still purchase property in Spain.
Golden Visas issued previously remain valid and can be renewed. New applicants may still have access, for example, to the Non-Lucrative Visa for people with sufficient income who do not work in Spain, or the Digital Nomad Visa designed for remote workers.
What Should You Consider Before Buying?
Before starting your property search, it is worth defining your requirements precisely. Consider whether you are looking for a permanent home or a holiday property, whether proximity to the sea is important, whether you need good schools or healthcare facilities nearby, or whether you would prefer an area where everything is within walking distance.
When planning your budget, do not consider the purchase price alone. Taxes, legal and notarial fees, as well as the ongoing costs of maintaining the property, can also represent significant expenses.
For a successful purchase, it is advisable to work with experienced local professionals. A reliable real estate agent can help you find the right property and guide you through the process, while a lawyer checks the legal background and the notary handles the formal transfer of ownership.
Do not forget to apply for a NIE number (Número de Identificación de Extranjero). This is the personal tax identification number issued to foreigners and is a basic requirement for any property purchase in Spain.
Which Region Is Right for You?
Spain is an exceptionally diverse country, so it is worth taking the time to choose the right location.
Madrid is ideal for those who enjoy vibrant city life, cultural programmes and an international environment. Barcelona attracts new residents with its creative, cosmopolitan atmosphere, while Valencia combines historic heritage, modern urban living and the seaside.
For lovers of the coast, the Costa del Sol offers a pleasant climate throughout the year, while the Costa Blanca is particularly popular among families and retirees thanks to its more affordable property prices.
If you prefer to be closer to nature, the picturesque white villages of Andalusia, the green landscapes of Galicia or the distinctive character of the Basque Country can also be excellent choices. Smaller towns generally offer more affordable property prices and strong local communities.
How Does the Property Purchase Process Work?
Once you have selected the right property and agreed on the price, the formal purchase process begins.
The first step is usually the signing of a reservation agreement (reserva), typically accompanied by a reservation deposit of EUR 3,000-6,000. This ensures that the property is taken off the market.
This is followed by the deposit agreement (contrato de arras), upon signing which the buyer typically pays 10% of the purchase price.
The lawyer then carries out a detailed review of the property's legal status, including ownership, any outstanding debts and building permits. If everything is in order, the parties sign the public deed of sale (escritura pública de compraventa) before a notary, the remaining purchase price is paid, and the keys are handed over.
Finally, the transaction is registered with the Spanish Land Registry, formally completing the transfer of ownership.
What Costs Should You Expect?
In addition to the purchase price, several other costs must be taken into account. For a resale property, transfer tax (ITP) is payable and generally ranges from 6% to 10%, depending on the region. For a newly built property, 10% VAT is payable.
You should also budget for notarial and Land Registry fees, which generally amount to 1-2.5% of the purchase price, legal fees, typically around 1%, and - if you are taking out a mortgage - financing costs. Careful financial planning helps avoid unexpected expenses.
What Happens After the Purchase?
Once the transaction has been completed, the process of truly making the property your own begins. Many owners renovate with the help of local tradespeople, create Mediterranean-style gardens, or add traditional Spanish architectural features to give their new home even more character.
An experienced real estate agent can continue to provide valuable assistance after the purchase, whether with transferring utilities, recommending reliable professionals or helping you become familiar with local services.
First-Hand Expertise in Spanish Property Investment
If you are considering purchasing or investing in property in Spain, it is worth turning to a professional who not only understands the market but also has first-hand experience.
Our colleague Béres Szabolcs, a real estate expert at REMAX GO, provides first-hand support to Hungarian buyers and investors interested in Spain. His portfolio includes a number of seaside apartments that he represents exclusively in Hungary. He also has property investments of his own in the region, giving him a strong understanding of the local market from both a professional and an investor's perspective.
Whether you are looking to purchase a holiday home, acquire an investment property or manage the entire purchase process, Szabolcs provides reliable professional support from the initial enquiry through to the handover of the keys.
To view our Spanish property listings, visit www.remaxgo.hu website.