Investment property: Spain

Updated 6 October 2026

A foreigner can freely buy property in Spain: no permits are needed and there are no nationality restrictions.

But a purchase no longer gives residence: the investor programme with its €500,000 threshold was abolished by Organic Law 1/2025, and no new applications have been accepted since 3 April 2025. A home is now an investment or a place for yourself, and a move is arranged on other grounds.

Which residence you can get instead

• Non-lucrative residence, for people living on savings or passive income. Owning a home in Spain helps by proving an address and lowering expected costs.
• Digital nomad visa, for remote work for foreign employers or clients.
• Work, business, study, family: the standard grounds.

Conditions and amounts are on our pages what replaced Spain's golden visa and digital nomad visa.

What you need to buy

• Foreigner identity number, the tax ID, issued by the police in Spain or at a consulate.
• A Spanish bank account for payments and taxes.
• Land registry check: owner, mortgages, seizures, arrears of property tax and owners' association fees.
• A notarial deed and registration of title in the land registry.

Taxes on purchase

Dollar amounts use the European Central Bank rate of 5 October 2026, $1.12 per euro.

• Resale homes: transfer tax set by the region, 6% in Madrid and 10% in Catalonia, higher for expensive properties in some regions. On a €400,000 flat, about $448,200, in Madrid that is €24,000, about $26,900.
• New build from a developer: 10% VAT plus regional stamp duty, usually 0.5% to 1.5%.

Taxes for a non-resident owner

• Annual property tax is paid to the municipality, at a rate set by the city.
• Imputed income tax. If the home is not let, a non-resident pays tax yearly on deemed income of 2% of the cadastral value, or 1.1% if it was revised, at 24%, or 19% for EU and EEA nationals.
• Renting out: 24% of income, or 19% for EU and EEA nationals with expenses deductible.
• Sale: 19% tax on the gain. The buyer withholds 3% of the price from a non-resident seller and pays it to the tax office.

How the purchase works

1. Foreigner number and account.
2. Shortlisting and due diligence in the land registry, cadastre and town hall.
3. Deposit contract. Usually 10% of the price; a buyer who withdraws loses it, a seller who withdraws returns double.
4. Notarial deed, payment of taxes, title registration.
5. Transfer of utilities and property tax.

Risks

• A property without a valid licence or with extensions missing from the cadastre.
• The previous owner's arrears of property tax and association fees.
• Limits on short-term tourist lets, which many cities and regions are tightening.

Can a Russian citizen buy property in Spain

Yes. Spain does not restrict home purchases by nationality: a flat or house can be bought in your own name without a residence permit. Non-EU foreigners need separate authorisation from the Ministry of Defence only in zones important for national defence, such as Ceuta and Melilla. A deal needs a foreigner's tax number and a Spanish bank account: the notary accepts only non-cash payment and checks where the money came from.

For Russians the difficulties start at the bank. EU sanctions rules prohibit banks from accepting deposits above 100,000 euros, about $113,000, from Russian citizens without an EU residence permit. So the payment route is worked out before the deposit: through an account at a bank in a third country, in instalments, or after obtaining residence. Spain closed its golden visa for property on 3 April 2025, so the flat itself does not grant residence.

Apartment prices by region

According to Spain's Ministry of Housing, in the second quarter of 2026 the average appraised value of free-market housing rose 12.5% year on year and set a record for the whole series. The interior regions and small towns are cheapest; the capital, the islands and the coast are most expensive. Amounts in US dollars at the European Central Bank rate of 6 October 2026, rounded up. A city-by-city review is in buying an apartment in Spain.

Owner taxes: rent and sale

• Annual property tax. Paid to the municipality on the cadastral value; each city sets the rate within the legal range.
• Empty flat. A non-resident pays tax on deemed income: 24%, or 19% for EU citizens, on 1.1% or 2% of the cadastral value per year.
• Rent. A non-resident from outside the EU pays 24% on the full rent with no deduction for costs, filing quarterly.
• Sale. A non-resident's gain is taxed at 19%, and the buyer withholds 3% of the price on account of the tax and pays it to the tax office. The municipality separately taxes the increase in land value.

In 2023 Russia suspended the main articles of its double tax treaty with Spain, so tax on rent is paid in Spain and the credit in Russia does not work in full. A Russian tax resident declares rental income and notifies the tax office of the Spanish bank account. More on the page taxes in Spain.

How to buy property in Spain remotely

In Spain the sale deed is signed before a notary, and a representative with a power of attorney can do it. The power of attorney is issued by a Spanish notary, at a Spanish consulate, or by a notary in your country of residence with an apostille and a sworn translation into Spanish. Through the representative you obtain the tax number and check the property register extract and debts for taxes and community fees.

In person you usually have to come once, to open a bank account: Spanish banks want to see the client. After the deal the notary sends the documents to the property register, and registration takes a few weeks. Spanish banks do lend to non-residents, but require proven income and a large down payment. If the goal is to live in Spain, residence is chosen separately: the options are compared in how to get residency in Spain.

What we do

We obtain the foreigner number and account, shortlist a property, check it in the land registry, cadastre and town hall, and support the deposit contract, notarial deed and title registration with locally licensed partners. We calculate ownership taxes in advance. If your goal is to move, we choose the right residence route.

What we do

• Property shortlist for your investment goal
• Legal due diligence on the property
• End-to-end transaction support
• Ownership structuring (company, trust)
• Property management and letting

See also

Company formation · Business account · Personal account · All country programs

FAQ