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Yes, foreigners can buy property in Spain. There are no restrictions on foreign ownership of real estate in Spain. However, non-residents will need to obtain an NIE (Número de Identificación de Extranjero) number, which is a tax identification number for foreigners.

In addition to the property price, you should budget for approximately 10-15% of the purchase price for additional costs. These include VAT (IVA) at 10% for new properties or transfer tax (ITP) at 6-10% for resale properties, notary fees, land registry fees, legal fees, and other administrative costs.

While it's not strictly required to have a Spanish bank account to buy property, it's highly recommended. Having a Spanish bank account will make it easier to pay for utilities, taxes, and other ongoing expenses related to your property.

The Spanish Collection provides comprehensive assistance throughout the buying process. We can help you find the right property, negotiate the price, arrange viewings, recommend legal professionals, assist with paperwork, and provide guidance on all aspects of buying property in Spain. Our multilingual team is here to make your property buying experience as smooth as possible.