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Looking for answers while buying a property in Spain? We will be glad to have a cup of coffee together in our office to answer all your questions and discuss the solution offers. You can also contact us by calling or leaving your message through the form below. Checking the below Frequently Asked Questions (FAQ) answered by property experts in Spain can also be a good start to learning about property purchasing and related processes in Spain.

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    How can I open a bank account in Spain?

    Banks operating in Spain have different account options for different purposes. Spain Homes ® helps its customers open a bank account in Spain as a free after-sale service. After deciding the account type of your need and preparing the required documents, we help you open your bank to make it a comfortable process for you. Related Pages; Open A Bank Account

    What are the required documents to open a bank account in Spain?

    Required documents to open a bank account in Spain are; a valid passport, foreigners’ ID number (NIE - Número de Identificación de Extranjero or TIE-Tarjeta de Identidad de Entranjera), a document to prove your residential address (a utility bill or an official letter from a government agency), for non-EU citizens proof of income or last tax return.

    Can foreign nationals open a bank account in Spain?

    Yes. Foreigners can open non-resident bank accounts in Spain.

    Is the cost of living high in Spain?

    No. Spain attracts attention with its low cost of living among Western European countries.

    Can I get a housing loan from banks in Spain?

    Yes. Foreigners can get a mortgage from Spanish banks. Related Pages; Mortgage in Spain

    What is the loan to value (LTV) rate in Spain?

    Foreigners can get up to 70% of the sales price of the property as a bank loan in Spain. And the rate is up to 80% for the Spain residents.

    What are the required documents to apply for a mortgage from Spanish banks?

    Required documents upon mortgage loan application are as follows;
    •    Detailed information about the property 
    •    Your NIE number and passport copy
    •    Official documents to declare your financial and tax situation
    •    Bank account statement
    •    Other real estate titles if you have in Spain
    •    Actual residence address

    How much are the yearly property taxes in Spain?

    Yearly property taxes, known also as IBI Property Tax, depends on the regional cadastral value. For a flat valuing 100.000 Euros, IBI property tax is around 400 Euros annually.

    Are there costs to be paid while buying a property in Spain?

    As in almost all countries, there are some additional costs of buying real estate in Spain in addition to the property price. These are VAT (IVA), property transfer tax (ITP) and stamp duty your legal documentation tax (AJD), and notary fees. In the case of using a mortgage, there will additional costs to be paid. Read more about Property Purchasing Costs

    Are the maintenance fees (known also as community fees) costly in Spain?

    When compared to other countries in Europe, property maintenance costs are relatively low. Depending on the property, it may vary between 100 and a few hundred Euros a year. Related Pages; Costs to Maintain a House

    How can I pay utility bills?

    You can use your bank smartphone applications to pay your utility bills. Besides, you can make automatic payment orders for your bills, which is more convenient for you.

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