Budgeting for Taxes When Buying a Property in Spain
Buying a property in Spain is a fantastic opportunity to discover a change of pace and lifestyle, whether you’d like a weekend apartment in Barcelona, a holiday home in beautiful Valencia, or are planning an overseas retirement along the golden coastlines of San Sebastián. As with all elements of an international acquisition, it is important for you to understand the property ownership rules throughout Spain and the taxation associated with owning a home, holiday property or rental apartment to ensure you budget accordingly. Here we look at the various costs, tax liabilities and legalities you should be aware of before proceeding with your Spanish property purchase plans. Rules for Foreign Nationals Buying a Property in Spain Post-Brexit, purchasing a home in Spain is slightly more complex, but there are no sweeping restrictions. The main requirement is that you will need a Número de Identidad de Extranjero or NIE. This identification number enables foreign nationals to r