A mortgage loan? Cash?

The way you buy a property in Spain depends on your available capital and mortgage capacity. You can either purchase with a bank loan or with cash. Even if you have the funds to buy outright, financing is often recommended to keep liquidity and possibly access a higher-value property.

For residents, banks usually finance up to 80% of the lower amount between the purchase price and the appraised value. Buyers must contribute the remaining 20% plus 10–15% for purchase costs such as taxes, notary, and registration.

For non-residents, banks generally finance between 60% and 70% of the property value. This means you should have 30–40% in savings, plus 10–15% for transaction expenses. Mortgage terms for non-residents are shorter, usually 20–25 years, and interest rates can be slightly higher.

In all cases, a NIE (Foreign Identification Number) and full financial documentation are required.

Michelle Newman-Bendel

Con casi tres décadas de experiencia en la Costa del Sol, Michelle Newman-Bendel acompaña a compradores y vendedores con un enfoque cercano, profesional y completamente personalizado. Su profundo conocimiento del mercado, combinado con una atención meticulosa a cada detalle, le permite ayudar a sus clientes a tomar decisiones con confianza y tranquilidad.

Desde Málaga hasta Sotogrande, Michelle trabaja para que cada proceso inmobiliario sea lo más claro, fluido y exitoso posible. Conoce más sobre Michelle