Spain Property Buying Process — Step-by-Step Guide
Buying property in Spain involves reservation (typically €3,000–€10,000), private purchase contract (30–40% deposit), and completion at the notary. The full process takes 6–8 weeks for key-ready properties and 12–24 months for off-plan. Total costs run 12–14% above the purchase price.
Step 1: Research and Selection
The buying process begins with identifying suitable properties. Our database tracks 1881 new builds across Spain’s coast, with prices from €78,000 to €10,900,000 and an average investment score of 50/100. Key factors to evaluate: location, price per square metre, rental yield potential, developer track record, completion date, and proximity to amenities. We recommend shortlisting 3–5 properties and visiting each before making a decision. Engage an independent lawyer early in the process.
Step 2: Reservation
Once you have selected a property, the process starts with a reservation agreement and deposit, typically €3,000–€10,000 (varies by developer). This takes the property off the market for an agreed period (usually 2–4 weeks) while due diligence is completed. Your lawyer should verify: the developer’s building licence (licencia de obra), land registry status, planning permissions, and the developer’s financial standing. For new builds, also confirm bank guarantee coverage (garantía bancaria) protecting stage payments if the developer fails to complete.
Step 3: Private Purchase Contract
After due diligence, you sign the private purchase contract (contrato privado de compraventa), typically paying 30–40% of the purchase price. This contract is legally binding on both parties. For off-plan properties, the remaining balance is paid in stages during construction, with the final 60–70% due at completion. For key-ready properties, the balance is paid at completion (escritura). All stage payments should be protected by bank guarantees under Spanish law. Your lawyer reviews the contract before signing, ensuring penalty clauses, completion dates, specifications, and warranty terms are acceptable.
Step 4: Completion (Escritura)
Completion takes place at a Spanish notary (notaría). The notary reads the deed of sale (escritura pública), both parties sign, and the balance of the purchase price is paid (typically by banker’s draft). The notary verifies identities, checks for outstanding debts on the property, and ensures all taxes are paid. The deed is then registered at the Land Registry (Registro de la Propiedad), which typically takes 2–4 weeks. If you cannot attend in person, your lawyer can sign on your behalf with power of attorney. Keys are handed over at completion.
Costs Summary
Total purchase costs for a new build at the average price of €687,140: IVA (10%) €68,714, stamp duty AJD (1.2%) €8,246, notary fees €600–€1,200, land registry €400–€800, legal fees (1–1.5%) €8,589. If mortgage: valuation €300–€500, bank arrangement fee (0.5–1%) €3,350. Total additional costs: approximately €89,328 (12–14% of purchase price). Budget accordingly and ensure all funds are transferred to your Spanish bank account before completion.
Frequently Asked Questions
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Source: Avena Terminal live data — avenaterminal.com · Updated 10 April 2026