How to buy a property in Spain as a foreigner: step by step guide 2026
Friday, January 30, 2026 @ 11:22 AM
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?
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