Mortgage in Spain for non-residents: what you need to know

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Spain remains one of the most sought-after destinations for real estate acquisition by international buyers. The reasons are obvious – a mild climate, a stable market, and accessible financing. This is especially relevant for those who are not ready to invest the entire sum at once. In this case, a mortgage in Spain for non-residents becomes a convenient and achievable tool for purchasing property.

The country’s financial system offers flexible property purchase schemes involving bank capital. Moreover, almost the same mortgage conditions in Spain are available for foreigners as for the country’s citizens, with some nuances.

How do Spanish financial structures work?

Most major banks in Spain willingly provide loans to foreign citizens. The loan is issued for a specific property selected and evaluated within the established procedure. Leading institutions in the mortgage segment include Banco Sabadell, BBVA, Santander, as well as Unicaja, Bankinter, and CaixaBank. These institutions have ready-made mortgage packages for foreign clients.

It is important to understand that each financial institution independently determines the requirements for borrowers. While general principles are maintained, the details may vary.

Key parameters for obtaining a mortgage in Spain for non-residents

The loan procedure for non-residents has its own rules: a larger initial payment, thorough verification of income sources, and a higher interest rate. The process is carried out in a clear and standard format. Below are the basic parameters defining the deal structure:

term – from 5 to 30 years, most commonly up to 25 years;
down payment – from 30% to 40% of the property value, depending on the type of property and client profile;
interest rates – fixed or variable, averaging from 3.5% to 5.5% annually;
loan currency – euro, with payments to an account in a Spanish bank;
mandatory insurance – property and life of the borrower, in some cases – a loan condition.

The higher the transaction amount and the more stable the client’s financial history, the more favorable requirements the lender offers.

What will the borrower need?

Before submitting an application, it is necessary to gather the required set of documents and ensure that the purchased property meets the financial institution’s requirements. How to get a mortgage in Spain for a non-resident is a question directly related to the client’s readiness for income source verification and transparency. Each application is considered individually, but the basic list of provisions remains almost unchanged:

mortgage documents – passport, NIE (foreigner identification number), income statement, tax return;
bank statements – confirmation of solvency for the last 6-12 months;
property appraisal – conducted by an accredited appraiser approved by the bank;
preliminary purchase agreement – with specified value and transaction conditions;
bank account – mandatory for fund transfers and loan repayment.

All documents must be translated into Spanish with notarization.

Who is eligible for a loan?

A mortgage in Spain for foreigners is suitable for both private buyers and investors planning to rent out the property. The highest activity is shown by citizens of the EU, the UK, CIS countries, and the Middle East. Income level is the main factor in decision-making, not citizenship.

It is possible to purchase apartments, villas, townhouses, or commercial spaces. During the evaluation stage, not only the property’s value is assessed but also its location, liquidity, and legal cleanliness.

Property acquisition with a loan as an investment

Buying property using a bank loan is not only a way to own property in Europe but also a profitable capital placement tool. Purchasing real estate in Spain with a mortgage allows non-residents to maintain liquidity, spreading expenses over a long period.

Moreover, thanks to the stable market, property prices demonstrate long-term growth, making credit investment particularly attractive for those who view real estate as an asset in their investment portfolio.

Choosing a lender

Key players in the market are banks with international reputation and experience in working with foreign clients. Among them are:

Banco Sabadell – offers mortgage products with a fixed rate for 10 years;
BBVA – emphasis on digital support and online application processing;
Santander – a wide range of loans for foreigners and non-residents;
Unicaja – advantageous offers with floating rates;
Bankinter – convenient requirements for buyers without residency;
CaixaBank – comprehensive packages considering rental, investments, and transaction support.

Comparing offers and obtaining preliminary approval are important steps before entering into a deal.

Mortgage in Spain for non-residents: the main points

A mortgage in Spain for non-residents is a transparent and accessible opportunity to acquire real estate in one of the most stable countries in Europe. Purchasing property with bank financing allows investment in housing without tying up all capital at once.

Formal requirements include basic mortgage documents, an initial payment, and income verification. Loan conditions depend on the financial institution and borrower status, but generally remain clear and comparable to European standards.

For those considering buying property abroad, a mortgage in Spain for foreigners is a convenient and advantageous option for personal residence, rental, or long-term investment. With a thoughtful approach and support from an experienced specialist, property acquisition becomes not a stress but a profitable and confident step towards European quality of life!

Spain’s best cities to live in: an overview of locations where you should buy property

Spain is a country with a rich history, culture, beautiful climate and diverse landscapes, it is no wonder that it attracts many people from all over the world who want to live here. From bustling metropolises to quiet coastal towns, the country offers a wide range of locations for a comfortable life. In this review we will look at the best cities in Spain to live in, focusing on those places where buying property will not only be a pleasant but also a profitable investment.

Madrid is the heart of Spain that beats for everyone

Madrid combines the best of tradition and modernity in a way that no other city in Spain can. The historic centre retains the wonderful spirit of ancient Europe – narrow streets, medieval squares, architectural monuments at every turn. At the same time, it is a place where modern infrastructure is actively developed, offering comfortable living conditions. The best of Spain’s cities for living with developed infrastructure provides residents with everything they need: convenient transport systems, modern schools and quality medical facilities.

Comfortable infrastructure for all ages

The city offers comfortable conditions for living in Spain not only for young families, but also for retirees. There is something for everyone: from green parks and museums to convenient shopping centres and modern sports complexes. The city takes care of all residents, offering a wide range of leisure and recreational opportunities. Madrid provides access to quality healthcare services, as well as numerous cultural activities that will help you feel involved in the community. For families with children to live in Spain, the city has all the facilities – convenient nurseries, safe playgrounds and the best schools.

Benefits:

State-of-the-art medical facilities.
Highly rated kindergartens and schools.
Extensive sports complexes and fitness centres.
Pedestrian and cycle paths in green spaces.

Housing in Madrid: a choice for everyone

Madrid offers accommodation to suit all tastes and budgets. Here you can find both compact apartments in the centre and spacious houses in quiet suburban areas. It is particularly pleasing that Spanish cities with low housing prices include some areas of Madrid, where prices remain quite affordable compared to other European capitals. Thanks to this variety of offers, everyone can choose a suitable option, regardless of budget.

Estimated prices:

Apartments in the city centre: from 3000 to 5000 euros per square metre.
Housing in the suburbs: from 1800 to 3000 euros per square metre.
Rental flats: from 1000 euros per month in central areas.

Barcelona – the city of dreams by the sea

Barcelona offers a good climate, making it one of the best cities in Spain to live in. Winters are warm and summers are bright and sunny, which is ideal for those who want to enjoy nature all year round. The Mediterranean Sea creates a unique microclimate that favours comfortable living and maintaining an active lifestyle. No sudden temperature fluctuations – Barcelona is literally made for warm sun lovers.

Cultural attractions and active life

In Barcelona, culture lives and breathes on every corner. World-class museums, endless festivals, the best theatres, street performances – all this makes the city one of the most comfortable places to live in Spain for those who appreciate art and culture. Barcelona never sleeps, and there is always something interesting for people of all ages – whether they are young couples, adults or seniors. Here, people easily immerse themselves in the atmosphere of eternal festivities.

Beach life and property

The Spanish city is also known for its magnificent beaches, which stretch for many kilometres. Whether you are looking for a quiet place away from the crowds or a lively urban coastline, Barcelona has it all. Properties by the sea are particularly popular: you can find cosy flats overlooking the ocean or villas that are close to the beach. This variety allows you to choose the most suitable option for permanent residence or holiday.

Valencia – a combination of nature and modernity

Valencia is an ideal garden city with a huge number of parks and green areas, and is considered one of the best places to live in Spain. Parks like Turia stretch for kilometres, offering residents the opportunity to walk, exercise or simply relax in nature. Valencia’s eco-friendliness is what sets it apart from many other metropolises: residents here value nature and do their best to preserve it.

Green spaces and parks:

Turia Park is the city’s largest green space, ideal for walking and jogging.
Monforte Gardens is a cosy place to relax.
Albufera is a national park with beautiful lakes and protected areas.

Developed infrastructure and housing availability

The city’s infrastructure is another factor that makes it attractive. The transport system works like clockwork: buses, trams and metro make it easy to get to any part of the city. It is convenient to live, work, study and have fun here. As one of the best cities to live in Spain, Valencia provides all the necessary amenities: from modern schools and hospitals to cultural and sports facilities.

Cost of living and housing

Valencia is characterised by its affordable housing prices. Whilst housing costs can be quite high in major cities such as Madrid and Barcelona, lists of places in Spain with low prices often include Valencia. Here you can find both small flats and spacious houses at a reasonable rate. The cost of living in Valencia is also lower, making it a great place for those who want to enjoy high quality accommodation without overpaying for it.

Approximate prices for accommodation in Valencia:

Flats in the centre: from 2000 to 3000 euros per square metre.
Flats in the suburbs: from 1500 euros per square metre.
Average rental prices: from 700 euros per month.

Taxes and additional costs when buying a property:

Property transfer tax: about 10% of the property value.
Notary and registration costs: between 1,500 and 3,000 euros.
Utilities: 100-150 euros per month on average.

Conclusion

Each of Spain’s best cities to live in has its own characteristics and advantages. Madrid attracts with its versatility and combination of history and modernity, Barcelona delights with culture and the sea, and Valencia offers a harmonious combination of nature and city. Choosing the ideal location depends on individual preferences and priorities.

May 29, 2025

Life by the sea: how to move to Spain for permanent residence

Sunny Spain with its cosy coastlines, temperamental culture and high quality of life is ideal for relocation. The opportunity to live by the sea and enjoy the mild climate attracts thousands of people every year. But realising this dream is not easy: you need to understand the legal nuances, research the cost of living and choose the best way to relocate. To understand how to move to Spain for permanent residence, it is important to prepare a clear plan, take into account all aspects and comply with the legal requirements of the country.

Moving to Spain: how to choose the best way to move to Spain

It is important to choose the appropriate way to obtain residency status. The government offers several legalisation options, each with its own advantages and limitations. The answer to the question of how to move to Spain for permanent residence depends on the applicant’s goals, income level and life circumstances.

The main ways of obtaining a residence permit:

Work visa. This option is suitable for those who have received an offer of employment from a Spanish company. It is important that the employer makes the appropriate application to the migration authorities. It is also possible to travel independently through starting a business.
Investment visa (golden visa). Investment in the Spanish economy entitles you to a residence permit. The minimum investment amount is 500,000 euros, e.g. in the purchase of property.
Family reunification. If relatives are already legally residing in the country, it is possible to apply for reunification. This requires proof of financial independence and availability of accommodation.
Study residence permit. Students receive a temporary residence permit for the period of their studies. This status allows you to work up to 20 hours per week, and after completing your studies you can apply for a work visa.
Retirement IOU. Pensioners with sufficient means of living and health insurance can also obtain a residence permit.

How to get a residence permit in Spain: steps and documents

Obtaining permanent residence is the final stage, which requires fulfilment of several mandatory conditions. In order to understand how to move to Spain for permanent residence, it is necessary to take into account that the process takes at least five years and involves the fulfilment of a number of formalities:

Residence in Spain for at least five years. During this period, it is necessary to maintain residency status and comply with migration regulations.
Document preparation. The list includes income certificates, tax returns, health insurance and proof of stable financial situation.
Language proficiency. A B2 or higher Spanish language proficiency certificate is required for application.
Integration. Demonstrating social engagement, participation in local activities and knowledge of the country’s culture will help to get a favourable decision.

The application is accompanied by a thorough review of all documents submitted. After successful completion of the stages, the applicant is given the opportunity to reside legally on the peninsula on a permanent basis.

Cost of living in Spain: what to consider when moving to Spain

Financial preparation plays an important role in the relocation process:

Housing. Renting a flat in the centre of Barcelona or Madrid will cost an average of 1000-1500 euros per month. More affordable options can be found in Valencia (700-900 euros). Buying real estate is also popular among those moving: the average price per square metre in the capital is about 4000 euros.
Nutrition. Products in Spain are relatively inexpensive. The cost of a set of meat, vegetables, bread and milk is about 120-150 euros per person. Outside the house, prices are much higher: lunch in a restaurant costs 15-30 euros.
Transport. Metro and bus fares cost 1.5-2 euros. For motorists, petrol costs approximately €1.5 per litre, and parking in city centres reaches €2 per hour.
Health care. Public clinics provide services on the basis of insurance, the payment for which depends on income. Private policies cost between 50 and 150 euros per month and offer a wider range of services.

Taxes in Spain: what is important to know before you move to live in Spain

The state’s financial system is based on progressive taxation, which applies to both local residents and foreign nationals living in the country for more than 183 days a year. For those planning to move to Spain for permanent residence, it is important to understand the structure of taxes, their rates and ways to optimise expenses.

Personal income tax

The IRPF rate ranges from 19% to 47% depending on the level of earnings. For example:

Income up to €12,450 is taxed at a rate of 19%.
Income between 20,200-35,200 euros – 30 per cent.
For high incomes over €60,000, the rate reaches 47 per cent.

Foreigners with an investment visa or temporary residence permit who do not spend more than six months on the peninsula can benefit from non-resident tax status and pay a flat rate of 24%.

Property tax

Homeowners pay an annual IBI (Impuesto sobre Bienes Inmuebles) tax. Its rate is 0.4-1.1% of the cadastral value of the property. For landlords, there is an additional commission on rental income.

VAT and capital taxes

Spain applies a standard VAT of 21%, with reduced rates (10% and 4%) for certain goods and services. Capital gains tax (IRNR) is levied on the sale of real estate and ranges from 19% to 23%.

The best regions in Spain: where to move for permanent residence

The choice of where to live plays a key role in adaptation and quality of life. The country offers a variety of locations, each with its own characteristics, climatic conditions and costs:

Barcelona. A cosmopolitan metropolis with developed infrastructure, international schools and many cultural events. The average cost of renting a home is 1200-1500 euros, and buying a flat will cost around 4000 euros per square metre. Barcelona is suitable for those who appreciate the urban rhythm of life and proximity to the sea.
Madrid. The capital of Spain is the business and cultural centre of the country. The best universities and offices of the largest companies are located here. The average rent is 1000-1400 euros per month. Madrid is chosen by those looking for career opportunities and a high level of comfort.
Valencia. A city on the Mediterranean coast with more affordable prices. Renting a flat costs 700-900 euros, and property prices are lower than in Barcelona or Madrid. Valencia attracts with its warm climate, developed infrastructure and moderate rhythm of life.
Andalucía. A southern region with a mild climate, historical sites and affordable housing. Seville and Malaga are popular destinations for those who appreciate traditional Spanish culture and low costs.

The challenges of moving: what to consider

To understand how to move to Spain for permanent residence, it is important to consider the following aspects:

Spanish bureaucracy is known for its slowness. It can take several months to apply for a visa, residence permit or permanent residence permit. Planning and utilising the services of immigration specialists can help to shorten the timeframe.
Knowledge of Spanish plays a key role in integration. In big cities you can find an English-speaking community, but in smaller communities it will be difficult without this skill.
High housing costs and taxes can be a barrier for many. Financial planning and searching for more affordable regions can help optimise costs.
Moving to another country is accompanied by the need to adapt to the local culture and way of life. The Spanish value family values, siesta and a relaxed attitude to work, which may surprise new residents.

Results

How to move to Spain for permanent residence? It is necessary to choose the best way to obtain a residence permit, prepare documents, calculate the budget and decide on the region. The country offers a lot of opportunities for a quality life, but success depends on careful preparation and adaptation to local conditions.

June 11, 2025