Buying a property in Spain

A Czech or Slovak citizen is not limited in any way when buying real estate in Spain, and can own it as a private or legal entity.

The purchase procedure

1. Setting up a N.I.E., bank account

The first step in the process of buying real estate is to obtain a tax identification number N.I.E. and opening a bank account, since the buyer can only pay the purchase price through his Spanish bank account.

2. Signature of a Reservation contract

The selection of the property is usually followed by a reservation contract, in which the buyer pays a deposit, usually in the amount of 5-10% of the price of the property (if the buyer withdraws from the contract, the deposit is forfeited, if the seller withdraws from the contract, he compensates the buyer for his losses with double the deposit). The reservation contract itself deals with the method of payment, including the payment of taxes and fees, connected with the purchase of real estate. The bank will issue an Entry Bank Certificate to the buyer, which proves that you have deposited the money necessary to pay the purchase price and fees, or that you are preparing to conclude a mortgage contract with the bank.

3. A Notary deed of real estate transfer (Escritura de compraventa)

The seller of the property together with the authorized representative of Mediterránea R.E.I. he prepares the notarial deed of ownership of the property, the Escritura de compraventa, which is the only possible contractual form of acquisition of the property, and is executed by a notary public. The terms and amount of individual installments of the purchase price of the property are contained in this record. The actual signature of the registration, i.e. the mortgage contract is also signed at the same time. From this moment on, the property becomes the property of the client, who can dispose of it freely. Immediately after the notarization of ownership of the property, the notary applies for the registration of the change of owner in the land registry, which usually takes place within 4-6 months (up to 20 months for development projects under construction). However, the signed Escritura de compraventa itself is proof of ownership. The payment of notary fees and taxes connected with the transfer of property is arranged by the notary and is always paid by the buyer.


Estimated costs associated with buying a property in Spain are:

  • real estate transfer tax (8-10%) – only for “second-hand” real estate, the amount depends on the province and in some provinces also on the price, or VAT in the amount of 10% of the real estate
  • price for residential housing and 21% of property prices for commercial properties
  • costs of notary fees and other fees associated with the purchase (approx. 3%)

Costs associated with running a property (apartment ownership and maintenance) in Spain are:

  • real estate income tax
  • local property tax
  • property tax
  • community fees (150-250 EUR/year)
  • utility costs (electricity, water, telephone, gas, cleaning, etc.)
  • real estate insurance
  • The fee for entering the purchase contract into the real estate register – it is graded according to the amount of the real estate price.
  • State tax (so-called stamp duty) in the amount of 0.5% of the purchase price.
  • Notary fees around 1% of the purchase price.
  • Legal fees (a lawyer is not required by law) 0.5 – 1% of the purchase price.
  • Real estate commission 0% – 3% (including VAT) of the purchase price.
  • Taxes and deposit fees are calculated by the notary when drawing up the contract of sale (escriture).