Want to buy property in Spain before potential tax changes make it harder? Now is the time to act. Discover how to navigate the process quickly and efficiently with our five-step guide.
Spain has long been a favourite destination for retirees, holidaymakers and those looking to relocate permanently. But recent news about proposed changes to property taxes for non-resident buyers has added urgency to the process. While these tax hikes remain a proposal for now, the possibility of increased costs makes acting quickly a smart move for potential buyers. Add to this the end of Spain’s golden visa scheme, and it’s understandable that some buyers will want to speed up the process. However, this is one of the biggest purchases of your life, so you don’t want to cut corners or take unnecessary risks. That’s where we can help.
Follow these five steps to purchase your dream home in Spain quickly and efficiently.
1. Decide exactly what you want
The first step is to decide exactly what you want. Sit down with your partner or family and establish what’s non-negotiable in your new home. Do you need two bedrooms, so guests have their own room when they come to stay? A terrace for al fresco dining? Or is being near a golf course essential?
Make a list of “must-haves” and “nice-to-haves” to narrow down your search. Use our property portal to browse homes online and attend our webinars and Virtual Event to get a feel for different regions and property types.
Decide on the type of property you want
2. Organise your finances
Money is often the biggest factor in property purchases, and having your finances in order can significantly speed up the process. Here are a few tips:
- Have your money ready: consider claiming your pension lump sum, releasing equity from your home and withdrawing any investments.
- Pre-apply for a mortgage: many Spanish banks offer pre-approved mortgages to international buyers, putting you in a stronger position.
- Fix your exchange rate: work with a currency specialist like Smart Currency Exchange to lock in favourable rates and avoid fluctuations that could eat into your budget.
3. Find a lawyer
An experienced lawyer is your best ally in ensuring a smooth transaction. Choose a solicitor with expertise in Spanish property law and consider granting them power of attorney. This allows them to act on your behalf, saving you time by handling administrative tasks like signing contracts, registering your property and applying for your NIE (número de identidad de extranjero). Your NIE is a unique identification number required for financial transactions in Spain. You can apply for this online, however, you will need to collect it from a police station once you get to Spain. English isn’t always widely spoken in Spanish police stations – particularly in remote areas – so it will be a huge help if you speak Spanish (or you take someone with you who does). It’s usually much quicker and easier to give your lawyer power of attorney and have them apply for you – it only costs a couple of hundred pounds.
Having your lawyer review contracts, check property deeds and confirm there are no debts or planning issues is essential to avoiding delays later on.
“If you have your paperwork in place, you have an NIE number and you’ve got a Spanish bank account, it’s possible to buy a property in Spain in just 40 days,” says Raquel Perez managing director and lawyer at Spanish law firm, Perez Legal.
4. Book a trip to Spain
Once you’ve shortlisted potential properties, it’s time to visit them in person. Book a viewing trip and schedule enough time to see as many as you can.
View as many properties as possible
If you have your paperwork in place, it’s possible to buy a property in Spain in just 40 days
5. Avoid common delays
As mentioned. buying property quickly doesn’t mean cutting corners – it’s about being prepared and avoiding common pitfalls. Here are some tips for minimising potential delays:
- Choose ready-to-buy properties: some properties, such as off-plan homes or those requiring extensive renovations, can involve lengthy processes like planning permission or construction. “The only properties that tend to cause delays are the ones that are located inland,” says Perez. “When buying countryside properties, it’s essential to ensure all necessary permits and planning permissions are in place. This may include verifying property registration, updating official records to reflect the correct square metres and ensuring all paperwork is accurate and up to date. All of which can delay completion.”
- Understand property types: rural properties or those in protected areas may come with extra restrictions. Research these thoroughly and seek legal advice to avoid surprises.
- Simplify ownership structures: unmarried couples or groups buying together can face additional paperwork. Simplifying the ownership structure can make transactions quicker.
Why now is the time to act
Waiting to buy in Spain could mean facing higher taxes or stricter regulations. Acting now gives you the best chance of avoiding these future challenges. We can put you in touch with trusted experts to guide you through every step of the buying process in Spain, from property searches to legal advice.
However, it is important to bear in mind that at this stage, the proposed property tax for non-resident buyers is still just a proposal. It hasn’t even been presented to parliament, let alone been passed as law!
“Nothing’s been confirmed – or even determined yet. A 100 percent tax on what?”, says Perez. “And even if the Spanish government does pass the proposal as law, it must get approved by the EU Parliament too. There are discrimination laws in place to treat non-resident buyers the same as Spanish residents, so I doubt it will be approved.
“The proposal is being made out to be big news and the press is using the fear factor because the UK is concerned that residents who want better weather and a higher quality of life are transferring millions of pounds out of the country and into Spain.”
Summary
If buying property in Spain is a lifelong dream, potential tax changes could mean you’re keen to get the ball rolling as soon as possible. With potential tax changes on the horizon, following these five steps will help you secure your dream home quickly, without cutting corners.
For more information about buying in Spain, download the Spain Buying Guide.
Get all your questions answered by experts at our Virtual Event on Saturday 22nd March 2025
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