The Legal Process

• Obtain a NIE (Número de Identificación de Extranjero): Before purchasing property, you need an NIE, a tax identification number for foreigners. Obtain it from the Spanish consulate in your home country or a police station in Spain.
• Choose a Solicitor: Engage a reputable Spanish solicitor specializing in property transactions. They will guide you through the legal process, conduct due diligence, and ensure compliance with legal requirements.
• Secure Financing: If you need a mortgage, get pre-approved by a bank. Spanish banks offer mortgages to non-residents, though conditions may vary. Expect higher deposit requirements compared to residents.
• Property Search and Offer: Identify a property and make a formal offer. Your solicitor can assist with negotiations and drafting a reservation contract.
• Sign the Purchase Contract: After agreeing on terms, sign a private purchase contract and pay a deposit (usually 10% of the purchase price). This contract outlines the sale terms and conditions.
• Due Diligence and Completion: Your solicitor will perform checks on the property, including verifying ownership and outstanding debts. Sign the final deed (Escritura) in front of a notary and pay the remaining balance.
• Register the Property: After signing the deed, your solicitor will register the property with the Land Registry (Registro de la Propiedad) and pay the applicable taxes.
• Taxes and Fees: Be aware of additional costs such as Property Transfer Tax (6% to 10% of the purchase price), Notary Fees (€600 to €1,000), Land Registry Fees (about 1% of the property value), and Legal Fees (generally 1% to 2% of the property price).

Choosing the Best Real Estate Agent

• Local Knowledge: Choose an agent with in-depth local knowledge of the Costa where you want to buy. They should be familiar with market trends, property values, and local neighbourhoods and know everything about Spanish homes for sale in the Costa
• Reputation and Reviews: Look for agents with a good reputation and positive client reviews. Check online reviews and ask for recommendations from locals or expatriates.
• Professionalism and Communication: Opt for an agent who is professional, responsive, and fluent in your language. Clear communication is key to understanding property details and negotiations.
• Transparency: Ensure the agent provides clear information about fees and commissions. They should be transparent about their services and any potential conflicts of interest.
• Experience: Choose agents who have experience working with international buyers. They will be better equipped to handle the unique challenges faced by foreign investors.

Tips for Foreign Buyers

• Understand the Market: Research the Spanish property market thoroughly. Property prices, types, and regulations can vary widely between regions.
• Know the Costs: Be aware of additional costs beyond the purchase price, including notary fees, taxes, and potential renovation costs.
• Visit the Property: If possible, visit the property and the surrounding area before making a purchase. Online photos and descriptions may not fully capture the property’s condition or environment.
• Check Legal Requirements: Ensure you understand all legal requirements for property ownership in Spain, including tax implications in both Spain and your home country.
• Consider Future Costs: Factor in ongoing costs such as property maintenance, community fees (if applicable), and local taxes.

Costa Locations Overview

Costa Blanca

Typical Property Costs

• Apartments: €80,000 – €200,000
• Detached Villas: €200,000 – €600,000+
• Luxury Properties: €600,000 – €1,500,000+

Types of Property

• Apartments in coastal towns like Benidorm and Alicante.
• Detached Villas with private pools and gardens in towns like Calpe and Javea.
• Townhouses in traditional Spanish style in towns like Altea.

Nearest Airports

• Alicante-Elche Airport (ALC): About 10-30 minutes from major towns.

Costa del Azahar

Typical Property Costs

• Apartments: €70,000 – €150,000
• Detached Villas: €180,000 – €400,000
• Luxury Properties: €400,000 – €1,000,000+

Types of Property

• Beachfront Apartments in towns like Peñíscola.
• Country Houses with orchard views near Benicàssim.
• Traditional Spanish Villas in smaller coastal towns.

Nearest Airports

• Castellón-Costa Azahar Airport (CDT): About 20-30 minutes from major towns.
• Valencia Airport (VLC): Approximately 1 hour drive.

Costa de Valencia

Typical Property Costs

• Apartments: €100,000 – €250,000
• Detached Villas: €250,000 – €600,000
• Luxury Properties: €600,000 – €1,500,000+

Types of Property

• Modern Apartments in Valencia city.
• Beachfront Villas along the coast.
• Historical Homes in nearby towns like Albufera.

Nearest Airports

• Valencia Airport (VLC): Approximately 20-30 minutes from central Valencia.

Costa del Sol

Typical Property Costs

• Apartments: €150,000 – €300,000
• Detached Villas: €300,000 – €800,000
• Luxury Properties: €800,000 – €2,500,000+

Types of Property

• Luxury Apartments in Marbella and Puerto Banús.
• Detached Villas in Mijas and Estepona.
• Traditional Andalusian Houses in smaller villages.

Nearest Airports

• Málaga-Costa del Sol Airport (AGP): About 20-30 minutes from major towns.