Buying a Property in Marbella
Purchasing a property in Marbella and the Costa del Sol means enjoying one of Europe’s most sought-after regions, with over 300 days of sunshine a year. At FM Properties, we guide you through every stage of the process to ensure your investment is secure, profitable, and aligned with your expectations.
Purchase Process
Choosing the Right Property:
Start by clarifying your property preferences. With its wide range of landscapes and lifestyles, the Costa del Sol offers everything from exclusive beachfront villas to cozy apartments in the city center. Our team will guide you in selecting the best options that align with your needs and expectations, helping you make an informed decision.
Property Reservation:
After selecting your perfect property, the next step is to secure the reservation. This requires signing a reservation agreement and making an initial deposit. The deposit ensures the property is held for you and will be deducted from the final purchase price.
Due Diligence:
Following the reservation, the next step is Due Diligence—a key phase in which the buyer’s lawyer ensures the property has no outstanding charges and that all documentation meets legal standards. The process can take a few weeks, depending on the complexity of the purchase.
Purchase Agreement
After completing the Due Diligence process, the next step is signing the sales contract. This legally binding document finalizes the agreement between buyer and seller, detailing the final terms and conditions of the transaction.
Signing of the Public Deed Before a Notary:
The last step in the process is the signing of the public deed before a notary, where ownership is officially transferred to the buyer, and the outstanding balance of the purchase is paid. Afterward, the notary manages the property’s registration in the buyer’s name at the Land Registry.
Required Documentation for Foreign Buyers
If you are a foreign buyer looking to purchase a property in Spain, there are a few essential documents you must have. Here are the key requirements you need to know.
Foreigner Identification Number (NIE)
The NIE is a personal, unique, and exclusive identification number for foreigners, required for any financial transaction in Spain, including property purchases. It is mandatory for both residents and non-residents.
Required Documents to Obtain the NIE
- Passport (original and copy)
- Completed and signed EX-15 form
- Two passport-sized photos
Opening a Bank Account in Spain
Opening a bank account in Spain is necessary for payments like taxes, utility bills, and community fees. It also facilitates the direct debit of recurring property-related expenses.
Required Documents to Open a Bank Account
- NIE
- Passport
- Proof of income or employment contract (depending on the bank)
Power of Attorney (if applicable)
If you are unable to be in Spain for the purchase process and wish to authorize someone to act on your behalf, you will need to grant a notarized power of attorney.
Required Documents
- Authorization document granting power of attorney
- Official ID of the authorized person
Property Purchase Taxes and Expenses
Buying a property in Spain involves more than just the purchase price—there are various taxes and additional costs to take into account. Here’s a breakdown of the most common taxes and associated fees.
Property Transfer Tax (ITP)
This applies to the purchase of second-hand properties. In Andalusia, it is 7% of the purchase price.
VAT (Value Added Tax)
For new-build properties, VAT is 10% for residential homes in Marbella and the Costa del Sol.
Note: For plots, garages, or storage rooms, VAT is 21%.
Stamp Duty (AJD – Tax on Documented Legal Acts)
This tax is applicable to both new property purchases and mortgage arrangements. In Andalusia, it is set at 1.2% of the property price.
Notarial and Land Registry Fees
Notary and registration fees are charges that must be paid for the formalization of the public deed and the property registration. Notary fees are regulated by law and depend on the property’s value and the complexity of the transaction.
Registration fees typically represent between 50% and 70% of notary fees.
Legal Fees
It is recommended to hire a lawyer to handle the legal process. Legal fees are usually around 1% of the purchase price, plus 21% VAT. These fees include the due diligence process, contract review, assistance with the signing of the public deed, and property registration.
Ready to take the first step?
We’re with you every step of the way—from your first consultation to the final handover—ensuring an outstanding buying experience.
Download our Full Buying Guide to explore every detail of the process, taxes, and additional costs.
