BUYING PROCESS
Buying Property in Spain – Step by Step
At Novus Habitat Real Estate, we offer a fully guided and seamless experience for international clients looking to invest in property on the Costa Blanca.
Below you will find a clear and professional overview of the requirements, costs, and processes involved in purchasing property in Spain.
NIE Number & Bank Account
To purchase property in Spain, all foreign buyers must obtain an NIE number (Número de Identidad de Extranjero), which is required for all legal and financial transactions.
A Spanish bank account is also required to manage payments related to the purchase, taxes, and ongoing property expenses.
✔️ At Novus Habitat Real Estate, we manage the entire NIE application process on your behalf.
👉 Service fee: €150 per person approximately
Taxes & Purchase Costs
The total acquisition costs depend on whether the property is new-build or resale.
New-Build Properties
For a mid-range property valued at approximately €300,000, buyers should expect additional costs of around 12%–14%:
- VAT (IVA): 10%
- Stamp Duty (AJD): 0.5% – 1.5%
- Notary fees: ~0.2% – 0.5%
- Land Registry fees: ~0.1% – 0.25%
👉 Estimated total additional cost: €36,000 – €42,000
Resale Properties
- Transfer Tax (ITP): approximately 6%–10%, depending on the region
👉 Estimated total additional cost: €18,000 – €30,000
✔️ All figures are indicative and may vary depending on the property and region.
Financing & Mortgage Costs
Spanish banks offer both fixed-rate and variable-rate mortgages for non-residents.
✔️ Under current legislation, most mortgage-related costs (including notary, registry, and stamp duty) are typically covered by the bank.
Typical buyer costs include:
- Property valuation: €150 – €400
- Arrangement fee (if applicable): 0% – 1%
At Novus Habitat Real Estate, we collaborate with trusted financial partners to guide you through the mortgage process.
Utilities Setup
We assist with setting up or transferring electricity and water contracts, ensuring your property is ready from day one.
👉 Estimated cost: €300 – €500 (one-time payment)
Annual Ownership Costs
For a mid-range property valued at approximately €300,000:
| Expense | Estimated Yearly Cost |
|---|---|
| Electricity & water | €1,500 – €2,200 |
| Home insurance | €400 – €600 |
| Property tax (IBI) | €200 – €350 |
| Community fees | €700 – €1,200 |
* Costs may vary depending on location, property type, and community services, particularly in larger properties or those with pools and shared amenities.
* This document is provided for informational purposes only and does not constitute legal, tax, or financial advice. All figures are estimates and may vary depending on individual circumstances, regional regulations, and property-specific factors.
After the Purchase
You’re not alone — Our service continues beyond the signing. We ensure a smooth and secure transition into yor new dream home. We assist you with all necessary matters, such as:
- Documentation and registrations
- Utility connections
- Rental management
- Interior desing and furnishing advice.
Our multilingual and experienced team provides you with full support and peace of mind – long after the purchase contract has been signed.
Contact us
Let’s Find Your Dream Home Together
Whether you’re just starting to explore the idea of buying in Spain or already have a vision of your future home, we’re here to guide you every step of the way. Fill out the form, and one of our experienced agents will get in touch to answer your questions and help you take the next step with confidence — no pressure, just personalized support.
