Buying an apartment in Spain

Are you looking for a simple, perhaps slightly smaller and relatively maintenance-free accommodation in sunnier latitudes? Then an apartment in Spain could be the answer! Here you can read more about where you can buy an apartment in Spain, what rules and costs apply and how much you need for a down payment.

Where to buy an apartment in Spain?

Spain has more than 2,500 hours of sunshine per year and offers 4,900 kilometers of coastline, the climate is mild even in winter. It's no wonder that many of us dream of an apartment here. An apartment is easy to take care of, virtually maintenance-free, can be left empty for periods of time without problems and is probably easier to rent out than a house if you're just looking for a vacation home.

To make your search easier, it's good to have as clear a picture as possible of what you're looking for. Here are some questions to answer before you proceed:

• Do you want to live in a central location close to restaurants, services and healthcare?
• Is it most important to live close to the coast and beach?
• Do you want to live on the outskirts of the city, or in a small village if you are looking for peace and quiet?
• Do you want to live in an area with the local population or would you rather have neighbors from your own nationality?
• Is a balcony or a terrace a requirement?
• Do you dream of a sea view?
• Is it important to live near a golf course or other leisure activity?
• Do you want to do without a car?
• Will you be staying on a yearly basis or only for short periods?
• Do you plan to rent out your apartment?
• How big an apartment do you need? Do you just want a small accommodation with a bedroom and kitchen, or do you need space to work on site or host family and friends?

Here you can find your apartment in Spain

If you prefer a slightly cooler climate, it's probably best to look for houses in the northern parts of the country. Further inland, you have the capital city of Madrid and beautiful scenery with lots of high mountains and plateaus. The heat here can be oppressive in the summer but cooler in the winter. If you are looking for houses in these regions of Spain, you need to look at how the house is constructed, whether it is adapted for the cold and damp of the winter months or just designed to keep the house cool during the hottest time of the year. More often than not, houses are built to keep them cool in the summer, so it's a good idea to check out different heating options so you're well prepared when the cold comes.

If you are looking for a Mediterranean climate with warm temperatures and mild winters. And then it is probably in one of these two areas that you should look for: Costa del Sol, the Spanish sunshine coast, or Costa Blanca. With its 300 days of sunshine and miles of coastline, it's no wonder you want to buy a house here. If you choose to buy a house in Torrevieja, Fuengirola or Marbella, you are both close to city life with a wide range of restaurants and cafes, but at the same time close to natural areas, golf course and beach.

If you are instead looking for an area with a quieter pace, Nerja and Estepona are nice options.

Since 2023 we are also represented in the Balearic islands, where we are able to help you to find your property on the lovely island of Mallorca with a very nice office in the heart of Santa Catalina in Palma. Whether you want to buy a villa or a townhouse in Spain, always start by contacting us. Tell us about your wishes and we will return shortly and start the journey together towards your dream home.

New construction or an apartment on the secondary market?

An important thing to consider is the condition in which you want to buy your apartment in Spain. A secondary market apartment often has a charming older style, while a new development has a more modern design. If you buy an older apartment, it is usually in a more established area, which can mean more noise from neighbors, traffic and street life. On the other hand, if you buy a new development, it is often in a quieter area on the outskirts of the city. You may have longer access to certain facilities before the surrounding area is developed, but on the other hand, you may not have to renovate. However, be aware that this may also mean noise from construction for a few years.

Rules and tips for buying an apartment in Spain

Be well prepared before you start your search, both in terms of the buying process itself but also what financial resources you have and need for a home purchase in Spain. The process of buying an apartment in Spain, from expression of interest to taking possession, can be found under Buying a property in Spain.

It is the seller's responsibility to leave the apartment in the condition and with the installations and licenses specified in the purchase contract. Usually furniture, appliances and furnishings are included when you buy an apartment on the secondary market, but if you buy a new development in Spain, the apartment is usually completely empty. Also, keep in mind that there is no requirement for removal cleaning in Spain.

In general, all different types of housing are included in a community association, Comunidad de Propietarios, which manages all public areas, such as the garden, staircase, pool area, facade and more. Those who live in the community usually pay a monthly fee to cover these expenses.

If you are newly retired or are a family with children who want to change environment for a year or two and are thinking of moving to Spain permanently, our guides moving to Spain and living in Spain can give you good advice.

What are the costs when buying an apartment in Spain?

You've decided to buy an apartment in Spain, but what are the costs beyond the sale price and how much of a deposit do you need? In addition to the purchase price itself, there are expenses of around 10-15%. These costs consist of:

• Transfer tax (stamp duty). 6-11% of the sale price when buying a second-hand home.
• Value added tax and stamp duty. Only in the case of new construction, a home sold for the first time, about 10% of the purchase price is VAT, stamp duty of 1.5% is added.
• Notary fees and registration fees. Usually a cost of between €1,000 and €2,000, depending to some extent on the purchase price.
• Legal and translation fees. Varies depending on services and scope, about 1% plus VAT (21%).
• Borrowing costs. If you take out a loan for your apartment in Spain, there will be additional costs from the bank; an arrangement fee of usually 1%.
• Charges for service connections. Only if you buy a new development.
• Property ownership costs. Whether or not you are resident in Spain, you pay a municipal property tax of 0.5-1.2% of the assessed value.
• Income tax. Everyone who owns a property in Spain is required to pay this government tax, usually a relatively small cost of a few hundred euros per year.

Getting a loan for a property in Spain doesn't have to be complicated but some things work differently compared to other countries. We can help you with bank contacts and other questions about different types of loans, interest rates and how to calculate a mortgage in Spain.