Investing in property in Spain—particularly in highly sought-after areas such as the Costa del Sol or the city of Málaga—is one of the smartest decisions for those looking to combine profitability, quality of life, and long-term stability.
The Spanish real estate market is a top destination for international investors thanks to its climate, legal security, lifestyle, and strong potential for capital appreciation.
At Fortuny Hogares Únicos, we support numerous foreign clients every year throughout the property purchase process in Málaga, offering a comprehensive, reliable, and fully personalized service. If you are considering buying property in Spain, this guide will help you understand the key requirements and each step involved in completing a secure and hassle-free transaction.
Defining the Purpose of the Purchase: Investment, Second Home or Permanent Residence
Before starting the buying process, it is essential to clearly define the purpose of your purchase.
Property investment
Many foreign buyers purchase homes to generate income through short-term or long-term rentals, including holiday rentals. On the Costa del Sol, well-located properties—especially those with sea views—offer excellent rental yields throughout the year.
Second residence
Other buyers are looking for a second home to enjoy the Mediterranean climate and Andalusian lifestyle. In this case, comfort, views, outdoor spaces and proximity to amenities are usually top priorities.
Permanent residence or relocation
If you are planning to move to Málaga permanently, it is important to consider additional factors such as legal residency, access to international schools, healthcare services and international transport connections.
Clearly defining your objective will help you determine the right budget, investment strategy, and type of property best suited to your needs.
Requirements for Buying Property in Spain as a Foreigner
Buying a house in Spain is a straightforward process for non-residents, provided that a few basic requirements are met.
Valid Passport
A valid passport is required to confirm your identity for all legal and administrative procedures.
Foreigner Identification Number (NIE)
The NIE (Número de Identificación de Extranjero) is essential for purchasing property in Spain. It is required to sign before a notary, open a bank account and pay taxes.
The NIE can be obtained through the Spanish Immigration Office or at the Spanish consulate in your country of residence.
Spanish Bank Account
While not always mandatory, having a Spanish bank account significantly simplifies the purchasing process. It allows you to manage payments related to the transaction, such as taxes, notary fees, utilities and ongoing property expenses.
Although payments can technically be made from a foreign account, this often results in delays and additional banking fees.
A Spanish bank account is also highly recommended if you intend to apply for a mortgage, particularly if the financing is provided by a Spanish bank.
Proof of Funds
In accordance with European anti-money laundering regulations, buyers must provide documentation proving the legal origin of the funds used for the purchase. This may include bank statements, income certificates or similar financial documentation.
Professional Advice
Working with a trusted real estate agent is essential. A professional advisor will help you identify the right property, review legal documentation, ensure compliance with Spanish law, negotiate the purchase price, and coordinate every step of the process while protecting your interests.
The Property Purchase Process in Spain: Step by Step
Property Search and Selection
The first step is defining your preferences: location, type of property, budget and purpose. At Fortuny Hogares Únicos, we offer a tailored property search, focusing on high-value homes in prime locations across Málaga and the Costa del Sol.
Offer and Private Purchase Contract (Arras Agreement)
Once you have selected a property, a formal offer is submitted. After acceptance, a private deposit contract (contrato de arras) is signed.
Typically, the buyer pays a deposit of around 10% of the purchase price. If the buyer withdraws, the deposit is forfeited; if the seller withdraws, they must return double the amount received.
Signing the Title Deed Before a Notary
The most important step in the process is the signing of the public title deed (escritura pública) before a notary.
The notary verifies the documentation, identities of the parties and payment details. At this point, the remaining balance is paid, ownership is transferred, and the buyer receives the keys.
Registration at the Land Registry
After signing, the property is registered at the Land Registry (Registro de la Propiedad). This step is essential to fully secure your legal ownership rights.
Taxes and Additional Costs
Purchasing property in Spain involves additional costs, including:
- Property Transfer Tax (ITP): usually between 7% and 10% for resale properties, depending on the autonomous community.
- VAT (10%) and Stamp Duty (AJD) for new-build properties.
- Notary fees, Land Registry fees and administrative (gestoría) costs.
Conclusion: Investing in Spain with Confidence and Security
Spain offers a stable, secure and highly attractive environment for real estate investment. At Fortuny Hogares Únicos, we believe that purchasing a property is not just a financial transaction, but an important life decision that should be handled with professionalism, transparency and trust.
Our team of experts will guide you throughout the entire process—from the initial property search to the signing before a notary and all post-purchase formalities.
Contact us today and discover how to invest in the Costa del Sol with the peace of mind that comes from working with experienced real estate professionals.
