Property News from Spain

Buying a property is one of the biggest moments in many people's lives. In this article, we present you with a detailed guide of the steps you should follow when buying a property in Spain as a foreigner. As we are aware that you may have some queries, we want to offer you the information you need so you are prepared when making this investment. From searching for the ideal property to signing the purchase contract, we provide you with a detailed overview of the entire process.

1. Prepare the required documents

The only compulsory document you will need to purchase a property as a foreigner in Spain is the NIE (Foreigners’ Identity Number). The NIE is needed whether you are from the European Union or outside of the EU, and whether you are a resident or not. You can find out how to obtain your NIE in our article about what is the NIE and how to obtain it. Although it isn't mandatory, we also recommend opening a bank account in Spain. We recommend you start these formalities as soon as possible.

Additionally, if you don’t have a good grasp of Spanish, we advise you to look for a specialist to translate all the documents you will need to check throughout the purchase process.

2. Set your budget

This should be the first step in the process of buying your new home. Setting the budget you have available will help you to search more specifically and successfully. It is about calculating what property you could buy, taking into account your savings, your income and possibilities of accessing finance.

If you can purchase the property in cash, you will need the total cost of the property plus 10% extra to cover the costs of the purchase. If, on the other hand, you need to take out a mortgage, you should have approximately 30% of the value of the property (20% for the deposit and 10% for costs and taxes). Additionally, it is vital that you consider the monthly and yearly costs that you will have to pay as a property owner. Experts recommend that your monthly expenses don’t exceed 35% of your income.

It is important to be realistic with your budget so you can handle the expenses comfortably and avoid taking any unnecessary risks. Once you have established the amount you have available, start searching for your ideal property.

3. Define the property you are searching for

What are the essential characteristics?

Once you have set your budget, decide what type of property you would like to buy: chalet, semi-detached, flat, etc.

Additionally, we advise you to create a list of all the characteristics that you would like your new property to have, such as the number of bedrooms, swimming pool, garage, terrace, etc. Write this list in order of priorities, determining which ones are essentials for you. Once again, you have to be realistic and know that the property that matches your budget may not fulfil all the characteristics you would like. The more features, the higher the price will be.

Also think about whether you would like to buy a new-build property or a second-hand property. In general, new-build properties are more sustainable but they are also more expensive. On the other hand, second-hand properties are more affordable but can require some refurbishment.

What area do you want to live in?

It is important to choose an area that meets your needs and your lifestyle. Think about which factors are important for you in your everyday life, such as proximity to work, your family, supermarkets, schools, etc. Think about whether you would like to live in a big city or in a smaller town. This may also depend on the type of property you want to buy. In general, detached and larger houses are found on the outskirts of the city, while living in a flat is more common in the centre. As you can see, your budget will accompany you throughout the process, since the type of property and area you choose will also restrict this figure.

If you don’t have an area in mind and you would like to know which neighbourhoods best suit your lifestyle, we advise you to use our page Find your place in Spain. Here, you will be able to include filters, such as the climate or population, and receive a list of areas that could be perfect for you.

Read more at thinkSpain.com

A beach on the doorstep is probably the first picture that enters your head when thinking about buying Spanish property. After all, Spain's coastline is world-famous, boasting more blue-flagged beaches than any other country.

Alicante's blue flag count is the highest of any Spanish province, making it popular when seeking seafront homes or property within walking distance of a beach. The Alicante shoreline, known as the Costa Blanca, has welcomed multi-national expatriates, tourists and holiday-home owners for generations, meaning you'll quickly feel at home.

With 244 kilometres of coast, Alicante's choice of property near a beach is huge. If you want the beach practically in your front garden, thinkSPAIN has 1,200-plus homes for sale in Alicante right on the seafront. But if a short walk to the golden Mediterranean sands and turquoise waves is close enough for you, then your options multiply, and you'll normally get more for your money.

Most properties near a beach in Alicante province are flats, the most common type of residence in Spain. If you prefer a villa, though, there are still plenty of options at a higher price.

Holiday homes and year-round living

Naturally, homes on the immediate beachfront carry a higher price tag, but are typically a good investment: Should you later wish to sell, they'll be in great demand. 

Read more at thinkSPAIN.com

Spain stands as a premier destination for golf enthusiasts and property investors, boasting approximately 400 golf courses and around 300 days of sunshine annually. Its extensive, high-quality golfing infrastructure and exceptional climate make it an accessible and appealing choice for international buyers seeking leisure and investment. Major golf areas are conveniently located near international airports, simplifying travel from Europe and beyond.

The Spanish golf property market outlook for 2025 is remarkably positive, with analysts projecting a 9% increase in property sales and housing prices expected to rise by 4% to 7.3%. This growth is driven by strong domestic demand and a significant surge in international interest, particularly from the UK and the United States, whose transaction numbers reached an all-time high in 2024. This robust demand, coupled with an existing supply-demand imbalance, suggests sustained value appreciation, positioning Spain as a stable and appealing long-term investment destination for expatriates.

Let’s explore Spain's best regions for golf property to better understand their distinct characteristics. This will help you align your Spanish golf property choice with your lifestyle and investment objectives.

Costa del Sol: Premium & mid-tier budgets

The Costa del Sol is a leading destination for golf and property in southern Spain. It is ideal for outdoor pursuits and a high-quality lifestyle, attracting an international community with its relaxed pace and rich social scene.

The Costa del Sol boasts over 70 golf courses, earning its moniker 'Costa del Golf'. It has hosted major international tournaments, including the Ryder Cup at Valderrama in 1997 and the Solheim Cup at Finca Cortesin in 2023.

Read more at thinkSPAIN.com

Demand for luxury residences in Spain is growing fast, especially among foreign buyers. Fortunately, supply is keeping up with this demand: At any one time, tens of thousands of top-budget homes are for sale nationwide. And the high-end property market is expected to continue to expand throughout 2025, even now the 'golden visa' scheme has ended. Buyers from outside the European Union (EU) can no longer acquire automatic residence by spending half a million euros or more on a property, but this has not, apparently, put investors off. Top-of-the-range villas and élite apartments remain highly sought-after, according to industry experts.

The majority of buyers of luxury Spanish homes are from Germany and France, and from the UK and Russia, with growing interest from the USA and countries in Latin America and the Middle East.

Exclusive properties can be found anywhere in Spain, but availability is greater in specific areas, as we'll show you here.

What Spain's luxury housing market can offer

Luxury property does not necessarily mean the most expensive. In fact, one reason Spain is so popular with high net-worth buyers is that their money goes further. Whilst a sum in the low millions might get you a small or medium-sized modern flat in many global cities, such as London, New York, or Dubai, it would be enough for a spacious villa with a garden and private swimming pool in most of Spain.

In price terms, Spain's property market considers 'luxury' to be over €1 million, and 'super-luxury' to be over €3m. Compared with many other countries, these figures are really quite low for what they will actually buy you.

Estate agencies say top-budget buyers typically look for uniqueness, quality, energy efficiency, and attractive surroundings. High-demand features include 'Smart home' technology, and private leisure facilities such as an infinity pool, large garden, private beach, cinema room, gym and tennis court.

Read more at thinkSPAIN.com