How easy is it to buy a house in Spain?

The rules for buying a property in Spain as an expat are relatively straightforward. Before buying, you’ll require a financial number, which can be obtained by visiting a police station with your passport. This is typically processed on the same day for Spanish or EU citizens, but may take a few weeks for others.

How much deposit do I need to buy a house in Spain?

30\%
For a Spanish mortgage, you will generally need a minimum deposit of 30\% of the property’s purchase price, with borrowing rates currently starting around 2\% (lower for premium clients). “The maximum mortgage for non-residents is 70\% of the purchase price or valuation, usually depending on which is lower.

Is it difficult to buy property in Spain?

There are no restrictions on buying property in Spain, whether it’s commercial, residential or land. In fact, Spain encourages investment by foreigners, both resident and non-resident.

Can a UK citizen buy a house in Spain?

Foreigners can buy a property in Spain regardless of their nationality. British buyers should not face added difficulties buying a house in Spain after the UK leaves the EU. Spanish law regarding the purchase of property does not differentiate between EU and non-EU citizens.

How long can I stay in Spain if I own a property?

90 days
You will be allowed to spend up to 90 days in Spain, and then you must leave the country. You will not be able to return until 180 days have passed since your date of entry into Spain (or Schengen). However, you can divide the 90-day period into two (45 days each) and spend each of them in Spain during the 180 days.

Can I still buy property in Spain after Brexit?

Whether you are an EU citizen or not, you still have the right to buy property in Spain after Brexit. The costs of buying a property remain the same whatever your nationality and, broadly speaking, include purchase tax, a Notary’s fee, a property registry fee and your lawyer’s fees amongst other miscellaneous expenses.

Do I need a Spanish bank account to buy a property in Spain?

You will need a bank account in Spain to pay the utilities invoices and the fees of the Community of Property Owners. In the case that you obtain finance to buy the property, you will also need a bank account for the mortgage monthly repayments.

How much tax do you pay in Spain when buying a house?

Expect to pay between 8\% and 11.5\% in taxes on a property purchase in Spain.

Can I buy in Spain after Brexit?

Can I just move to Spain from UK?

As of 2021, the UK is no longer a member of the European Union! This allowed British citizens to move to Spain without visa restrictions or maximum stay periods. However, under post-Brexit rules, the rules for British citizens who want to live in Spain are much very similar as they are for non-European people.

How much do I need to retire in Spain from UK?

Retirement in Spain also tends to be fairly low cost. You can retire comfortably on about $2,000-2,200 a month, about $25,000-27,000 a year. Naturally, if you choose to live a bit further away from the big cities, you can retire on approximately $1,700-1,900 a month, which is about $20,000-22,000 annually.