Property and Assets
Are you planning on buying a property in Spain?
Legal Advice in Property Transfer.
We help you find your property and calculate all the costs and taxes so that you know the exact purchase amount.
Search For Property Information
We will analyze the legal situation of the property; ownership, encumbrances, and liens.
Power of attorney, NIE and Bank account
This will allow us to act on your behalf, avoiding the need for you to be present at each process step.
Completion of the purchase
We accompany you while signing the title deeds, and carrying out all the necessary procedures to register your property in the land registry.
Taxes & Convenience+
We help you changing name of utility bill, tax optimisation and even the drafting of the will.
We will analyse and avoid any possible legal issues, guaranteeing a smooth transaction.
We will keep you informed throughout the process and ensure your interests are covered.
Arras or down payment
This is a fundamental part of the sale process. We will help you define and defend your interests from the beginning.
Decide what happens to your possessions in Spain in the event of your death and optimise taxation so that your heirs get the best solution.
We will review your alternatives and advise you on the quickest and most tax-efficient way forward.
Termination of co-ownership
We will ensure that your interests are protected and make the process as easy and quick as possible.
Power of attorney
We will be your legal representative if you cannot be physically present and need it.
Drafting the rental contract
If you plan to rent your property, we will prepare the contract that best suits your circumstances, ensuring your legal protection.
What do I need to buy a property in Spain as a foreigner?
In Spain, there are no restrictions on buying a home. The requirements are:
- Obtain a Número de Identidad de Extranjero (NIE), which is necessary for all the formalities you must carry out with the Spanish Administration.
- Open a bank account in Spain, to which you will transfer the funds necessary to carry out the purchase operation.
We can help you from the beginning, managing the process and helping you plan the tax and budgeting of the entire transaction.
What taxes do I pay when I buy a new property?
All purchases of new homes are currently subject to 10% VAT on the value of the property, as well as 1.5% for a legal documentation tax (AJD) in the Valencian Community (Costa Blanca), with the latter percentage varying in the Murcian Community (Costa Cálida) to 2%.
What taxes do I pay when I buy an existing property?
When buying an existing property, you must pay exclusively a Transfer Tax (not VAT). Depending on the purchase price, taxes are applied on a sliding scale, 10% in the “Comunidad Valenciana” (Costa Blanca), with the latter percentage varying in Murcia (Costa Cálida) to 8%.
Is it a good investment to buy a property in Spain?
Spain is a popular destination for real estate investment due to its strong capital growth and limited supply of properties.
In addition to its thriving economy, Spain offers a fantastic climate, rich culture, diverse tourist attractions, delicious cuisine, and welcoming people, making it a great place to invest and enjoy year-round.
Compared to financial investments, real estate can be a lower-risk option depending on your personal goals and lifestyle. Whether you’re looking for a vacation home, rental property, or long-term investment, Spain is an excellent choice. Let Fontanals Solicitors help you navigate the real estate market and find the perfect property in Spain.