the big questions

The seller engages an estate agent to achieve the highest possible price for their property. Part of their job is to disguise and downplay negatives that may be a deterrent. They will only be able to offer properties they have listed, usually in a well defined area.

The buyer engages a property finder to find the right property at the lowest possible price. As we cover entire regions we can compare and contrast alternatives across several locations. An estate agent wants to sell and doesn’t really care whether it suits the buyer or not. They always try to show properties in the most favourable light. If an estate agent tells me I can only view a property in the morning I am immediately suspicious. In all probability there is no afternoon sun and they are trying to disguise the fact. If an agent pushes for weekend viewings you can be quite sure traffic thunders past on weekdays! A buyer’s agent does the exact opposite. You can be confident we will alert you to any negative aspects related to the property or its surroundings.

Not any more.  The law terminating the scheme was published on January 3rd, 2025 but we understand that applications can still be made up to midnight on April 2nd 2025. Existing Golden Visas will continue to be recognised as long as the holder maintains the investment that got them the visa in the first place. You don't need to have completed a purchase by the deadline but you must sign a purchase contract, pay 10% deposit and have the balance of funds in an escrow account in Spain by the deadline.

We often find that people are not really sure exactly where they want to be. But we are able to offer balanced and impartial advice about a variety of locations across an entire region. Then we use our intimate local knowledge to pinpoint the most likely options for each individual’s requirements. In contrast, estate agents want to sell in their area only and often make negative comments about other locations. We really listen to our clients. So we often suggest locations many miles from where they originally thought they wanted to be. Sometimes they have never even heard of the place in which they eventually buy!

If possible we arrange a meeting at which we take a very detailed brief but if a face-to-face meeting isn’t an option then we set up a video conference call . We consider all the issues. What is the purpose of the purchase; relocation, investment, business opportunity, rental income, holiday property? What is the budget? We help people stay focused and realistic. Once we have defined all potential locations we get to work researching and assessing what is currently available. We submit written reports of our findings so you can short-list what you want to see. Then, and only then, do you need to travel. You won’t waste time viewing unsuitable properties so the trip can be just a couple of days or less.

In the more established coastal areas we may use estate agents who we know and trust. But we also have extensive networks of contacts to see what properties might be available privately. So we often come up with properties that are not actually ‘for sale’. In the more rural areas we find out who is the local runner, or ‘corredor’ in that particular area. We can also do targeted mailings to find potential sellers in specific developments which match the criteria.

The final step in the purchase process in Spain takes place in front of a notary. Both the seller and purchaser are present or represented by means of a power of attorney. The escritura will be signed, the keys and monies will be handed over and that’s it. Many property buyers from overseas give their lawyer a power of attorney which covers things like applying for the NIE. This is the fiscal identity number which buyers need before completion can take place. And the lawyer can also transfer utilities after completion, otherwise you must to do this in person.

There really isn't an 'average' search. However, once we know what the brief is we can make a rough estimate. Some searches involve inspecting a lot of properties in more than one location while others might throw up just a couple of options. We usually ask for at least 6 - 8 weeks for the initial search, to enable us to research the whole market. This will include properties not listed with estate agents and 'under the radar' properties not openly for sale.

It does now. Announced in 2022, the details were published in early 2023 and the scheme is now operational. Only available to non-EU citizens for up to 5 years, after which permanent residency is a possibility. An eye-catching feature is the 15% tax rate available under certain circumstances. 

Yes, and the Spanish tax authorities are determined to stop evasion. The flat rate is 25% of net income.

Yes, Capital Gains Tax is 19% for all E.U. non-residents while it is 35% for non-E.U. individuals or entities. And if you decide to become resident in Spain it will still be 19%, irrespective of nationality.

This only applies to non-residents. It ensures that the seller pays any Capital Gains Tax due.  The retention is 3% of the amount declared in the escritura at the time of sale. In effect, the retention is a down payment of the Capital Gains Tax owed.  It is the responsibility of the buyer to pay this to the tax authorities within 30 days of signing the escritura. With a power of attorney your lawyer can do this for you. Hacienda then has 6 months in which to calculate the actual CGT due and to return any overpay. Of course, they can also claim any underpay.

Yes. The one that will most affect property buyers is the obligation to include the method of payment within the escritura. Previously, buyer and seller simply had to swear to the notary that the full purchase price had been paid and received. Now they have to state in the deeds how it has been paid. Failure to do so will mean that the property cannot be registered in the new owner’s name.

No. For both to get a visa the investment would have to be at least €1m, i.e., €500,000 x 2. If two names appear on the Title Deed the assumption under Spanish law is that each are contributing 50% so a purchase between €500,000 and €1m will only generate one visa. Therefore, couples have to decide who gets it. However, this visa covers a partner and dependant children under 18 years old. Many of our clients investing over €500,000 but under €1m have opted to do this.

Providing you meet all the requirements, such as minimum investment level, no criminal record, private medical insurance etc., the visa is automatic and speedy. However, we recommend you take expert advice in advance of your purchase to make sure you do it right.

If you have a specific question about buying property in Spain that we haven’t covered here please fill in the form below and we’ll get back to you.