Can Non-EU Citizens Buy Property in Spain? A Guide for Buyers in Torrevieja

Can Non-EU Citizens Buy Property in Spain? A Guide for Buyers in Torrevieja

 Yes, non-EU citizens can legally buy property in Spain, including in Torrevieja. Spain does not impose restrictions based on nationality, and the process is straightforward with the right documentation and legal support

Introduction

Spain has long been a top destination for property buyers worldwide, and the coastal city of Torrevieja stands out as a favorite. Known for its Mediterranean climate, beautiful beaches, and thriving expat community, Torrevieja is especially popular among non-EU citizens looking to invest in a second home, retirement property, or vacation rental. This guide explains how non-EU citizens can purchase property in Spain, with a focus on the Torrevieja market.

Why Torrevieja?

Torrevieja, located on the Costa Blanca, offers sun, sea, and affordability. Its relaxed lifestyle, excellent healthcare services, and accessibility from international airports make it an ideal location for non-EU buyers. British, American, Canadian, and other non-EU nationals have been increasingly drawn to the area due to:

• Affordable property prices compared to other Mediterranean cities
• A large English-speaking community
• Wide selection of beachfront apartments, villas, and townhouses
• Year-round sunshine and excellent infrastructure

Legal Overview: Can Non-EU Citizens Buy Property in Spain?

Yes. Spanish law allows both EU and non-EU citizens to purchase property with no restrictions. The key legal requirement for foreigners is obtaining an NIE (Número de Identidad de Extranjero), which is necessary for all financial and legal transactions in Spain.

Step-by-Step Guide to Buying Property in Torrevieja as a Non-EU Citizen

1. Obtain an NIE – Apply through a Spanish consulate or in Spain.
2. Open a Spanish Bank Account – Required for transactions, tax payments, and utilities.
3. Hire a Local Lawyer or Real Estate Agent – Preferably English-speaking and familiar with non-resident purchases.
4. Reserve the Property – Sign a reservation agreement and pay a small deposit.
5. Conduct Due Diligence – Your lawyer will check title deeds, debts, and planning permissions.
6. Sign the Purchase Contract – A 10% deposit is typically required at this stage.
7. Complete the Sale – Sign the public deed (escritura) before a notary and register the property.

Taxes and Fees for Non-EU Buyers in Spain

Non-EU buyers face the same tax obligations as EU buyers. Expect to pay:

• Transfer Tax: 6–10% (for resale properties)
• VAT & Stamp Duty: 10% VAT + 1.5% stamp duty (for new builds)
• Notary & Registry Fees: 1–2%
• Legal Fees: 1–1.5% of the purchase price

Annual costs include:

• IBI (Property Tax) – Varies by municipality
• Non-Resident Income Tax – Even if the property is not rented
• Community Fees – For shared complexes

Risks and Considerations for Non-EU Buyers

• Currency Fluctuations – Affect final cost if paying in foreign currency
• Mortgage Availability – Some banks offer non-resident mortgages, but with stricter terms
• Legal Protections – Always use a lawyer independent of the seller or agent
• Post-Brexit Changes – UK citizens now follow non-EU rules

Tips for Buying Property in Torrevieja

• Choose well-known neighborhoods like La Mata, Playa del Cura, and Punta Prima
• Visit properties in person or arrange virtual viewings
• Work with reputable, English-speaking agents and solicitors
• Consider future rental potential if buying as an investment

Final Thoughts: Is It Worth It for Non-EU Buyers?

Buying property in Torrevieja is a smart and increasingly popular move for non-EU buyers. With open property laws, affordable housing, and a quality lifestyle, Torrevieja presents an excellent opportunity for vacationers, retirees, and investors alike. Just be sure to get local legal advice to navigate the process smoothly.

FAQ Section

Can Americans buy property in Torrevieja, Spain? Yes, Americans can legally purchase property in Torrevieja with no restrictions.

Do non-EU buyers pay more taxes when buying in Spain? No, tax rates are the same for EU and non-EU buyers.

Is it easy to get a mortgage in Spain as a non-EU resident? It’s possible, but banks may require a larger deposit and offer higher interest rates.

What’s the minimum investment needed to qualify for the Golden Visa in Spain? €500,000 in real estate investment.