Financial check

As a non-resident, Spanish banks typically finance 60 to 70% of the valuation; you bring in the rest as your own funds. The calculator above shows an indication for your situation.

The difference is the type of project. A commercial project carries a rental obligation: you buy as a business for tax purposes, pay no transfer tax and reclaim the 21% VAT on completion. Mainly notary and registration costs remain, around 2%. A non-commercial project leaves you free to use the property, you buy privately and you do pay transfer tax: around 14% including notary and legal support. Which route applies depends on the project and your own situation; we work it through with you beforehand.

This works differently in Spain than in the Netherlands. With Dutch new-build you become the owner of the plot at the notary and then pay construction instalments on land that is already yours. In Spain you first sign a private contract and pay instalments during construction, but you only become the owner at the deed (escritura) before the notary, after completion. Until then you are not in the land register. Your payments are protected by law, though: the developer must cover them with a bank guarantee or insurance, so you get your money back if the project is not delivered. We always verify that guarantee before you transfer a single euro.

Yes. Spanish banks lend to non-residents, usually up to 70% of the valuation. You bring in the rest yourself, along with the buyer costs. Banks look at your income, your existing commitments in the Netherlands and the property valuation. Increasing a Dutch mortgage on your current home can sometimes work out cheaper; we compare both routes.

Count on 30% of the purchase price for the part the bank will not finance, plus the buyer costs. For a non-commercial project of € 300,000 that means roughly € 90,000 of your own money plus € 42,000 in costs. For a commercial project the costs are considerably lower. The calculator above shows what that means in your situation.

With a commercial project you pay 21% VAT on the purchase price and reclaim it from the Spanish tax authority after completion. That requires being registered as a business in Spain and filing periodic returns. The refund usually takes a few months, so you need to be able to pre-finance that amount. Our tax adviser guides the application.

Count on property tax (IBI), community fees for the complex, building insurance and utilities. For an apartment that often totals € 1,500 to € 3,000 per year. If you rent the property out, income tax and usually a keyholder or manager come on top. We map out those items for your project before you sign.

The purchase is settled in euros. If you transfer money from another currency, the exchange rate affects your final costs. A specialised currency provider is often cheaper than your own bank.