The Pros and Cons of Buying Property in Spain as an foreigner

19 July, 2023 | Alba Tebar

Being a foreigner is not always easy, because adapting to a new country takes its time. Getting used to its rules, its behaviour, its language, and a large etcetera, is going to be a race of obstacles for every foreigner.

If we talk about Spain, there are many aspects that position it as one of the best countries for foreigners to settle down. However, at the same time, you might face some tricky aspects to manage, such as language skills.

Focusing on the property market in Spain, there are some aspects you might need to consider before applying for a house. And with that, we’re not saying that it is very difficult to find a property here -rather the opposite!- but you’ll need to count on the help and advice of an expert.

In Hipotecasplus, we are mortgage brokers that are used to working with foreigners in order to help them find a property in Spain, no matter which region you prefer. So, if you are looking for some good advice and guidance throughout the process of buying a property in Spain, it is a good idea to contact with our team. We will make your adaptation period so much easier and quicker!  

Anyways, apart from good advice from an expert, before entering the property world from Spain, it is crucial to have an overview of its strengths and weaknesses. That’s why we have written this article, especially for foreigners who want to buy a property in Spain, but do not know much about its main characteristics. So, in this article we’ll try to explain you the pros and cons of buying a property in Spain, so you can have as much information as possible before deciding.

The pros of buying a property in Spain

First, it must be said that Spain is a huge country with big differences between its regions. So to say, it is not the same to buy a property in Barcelona or Madrid, which are modern and big cities, than buying a beach house in Costa del Sol, in the south of Spain. Nevertheless, there are some general aspects that can be applied to the totality of this country. Let’s explore them.

Affordability and cost of living

Compared to other European countries, Spain offers relatively affordable prices in terms of properties. While it is true that in capital cities such as Barcelona or Madrid, prices can be higher than the average, you can find cheap houses, especially in small towns and rural areas.

Related to that point, it must be said that in Spain there is a relatively cheap cost of living. Everyday expenses, such as food, utilities, and healthcare, can be more affordable, making it an attractive destination for retirees or those seeking a more budget-friendly lifestyle. So, this is one of the best things to consider when deciding to settle down in Spain.

Good rental income opportunities

If you’re not planning to live in your Spanish property full-time, you can consider renting it out to tourists or long-term tenants. Spain is a popular tourist destination, which can provide a steady stream of potential renters, especially during the peak holiday season.

So, thanks to the high seasonal rental costs that exist in Spain, you will be able to extract a good financial profit from it. In that sense, think about the economic possibilities that might emerge from your investment in a Spanish property.


Spain has an undeniable high quality of living. Its warm and calm weather leads to a relaxed Mediterranean lifestyle, with lots of outdoor activities, such as cultural or musical events. In addition, its amazing culture, with diverse regional traditions, festivals, and cuisine, is one of the most attractive aspects of Spanish lifestyle.

What’s more, good access to health and education in Spain can be determinant points to consider when deciding to buy a property in this country. Residents are eligible for public healthcare services, and, in terms of education, there are plenty of international schools that will perfectly adapt to the interests and needs of your family.

The cons of buying a property in Spain

We have seen that there are plenty of good reasons to choose Spain as the perfect place to buy a property. However, there are some aspects that also need to be highlighted, and that are not so good in terms of buying a property as a foreigner. Let’s oversee them.

Taxed on worldwide income

It’s impossible… you’ll never escape from taxes! As you might know, taxes are applied to every product or service you buy. The same happens when it comes to properties. In Spain, you have to know that you will be taxed on your worldwide income, so to say, that it will affect your income in other countries.

Additional costs to buying a property

This is also a worldwide fact: associated with the purchase of a property, there are some additional costs that you must be aware of. We are talking about In addition to the purchase price of the home, you will also need to pay the deed costs. Which depend on the autonomous community where you purchase.

Language and cultural barriers

Every time you go to a different country, one of the biggest barriers you’ll need ot overcome is language. So, if you’re not fluent in Spanish, it is going to be necessary to have to help of a local mortgage broker to communicate and deal with authorities, contractors or banks.

Furthermore, another good idea is to work with a reputable bilingual professional who can assist you.

Legal and administrative process

Navigating the legal and administrative processes of buying a property in Spain can be complex, especially if you’re unfamiliar with the local laws and regulations. So, it’s crucial to have a lawyer who can guide you through the process and ensure that all necessary paperwork and contracts are in order. Or, at least, a reliable mortgage broker to advise you before buying the property.

Anyways, always remember that all those “cons” can be easily solved with the appropriate advice of an expert. If you trust in Hipotecasplus, we can assure you that the process of buying a property in Spain will be 100% worth it. And, if you have any doubts or questions you want to ask, do not hesitate to contact us! We will be more than happy to help you!

These are the main real estate portals in Spain:

  1. Idealista
  2. Fotocasa
  3. Habitaclia