Question 1

Can foreigners buy property in Estepona?

Accepted Answer

Yes. Spain places no restrictions on foreign buyers, EU and non-EU citizens can purchase freely in Estepona. You will need a Spanish NIE (foreigner tax number) before signing the title deed, plus a Spanish bank account for the transfer. The full purchase typically completes 6 to 10 weeks from signing the reservation contract.

Question 2

What is an NIE and how do I get one?

Accepted Answer

The NIE (Número de Identificación de Extranjero) is your Spanish tax ID and is mandatory for buying property, opening a bank account or paying taxes. You can apply at a Spanish consulate in your home country or in person in Spain. Your lawyer can also obtain it on your behalf with a power of attorney, typically 2 to 4 weeks.

Question 3

Do I need a Spanish lawyer?

Accepted Answer

Strongly recommended. An independent lawyer (abogado), separate from the agent and seller, verifies title, checks for debts and planning issues, drafts contracts and represents you at the notary. Typical fee is 1% of the purchase price plus VAT, with a minimum around €1,500.

Question 4

How long does completion take?

Accepted Answer

From accepted offer to keys: 6 to 10 weeks for a resale, 30 to 45 days from reservation if no mortgage is needed. New-build off-plan completes when the development is delivered, often 18 to 36 months after reservation, with staged payments along the way.

Question 5

What taxes will I pay buying a property in Estepona?

Accepted Answer

Resale property in Andalucía: ITP (transfer tax) at 7%. New-build: 10% IVA + 1.2% AJD (stamp duty). Plus notary, land registry and legal fees of roughly 1 to 2%. Budget 10 to 13% on top of the asking price for total acquisition costs.

Question 6

What ongoing costs should I expect?

Accepted Answer

Annual IBI (council tax) is typically 0.4 to 1.1% of cadastral value. Community fees on apartments and gated villas range €100 to €600/month depending on amenities. Non-resident owners pay an annual income tax based on cadastral value, plus utilities and home insurance.

Question 7

Are agent fees paid by the buyer or seller?

Accepted Answer

In Spain the seller pays the agent commission (typically 3 to 6% + VAT), already baked into the asking price. Buyers do not pay agent fees on resale or new-build.

Question 8

Can non-residents get a Spanish mortgage?

Accepted Answer

Yes. Spanish banks lend to non-residents at typical LTVs of 60 to 70% of the lower of purchase price or valuation (vs 80% for residents). Rates are competitive with the rest of the eurozone. You will need 6 months of bank statements, tax returns and proof of income, pre-approval takes 2 to 4 weeks.

Question 9

Should I get pre-approval before viewing?

Accepted Answer

Recommended for serious buyers. A mortgage in principle confirms your budget, signals credibility to sellers and shortens completion. We can introduce you to specialist non-resident mortgage brokers familiar with the local market.

3-Bed Apartment in Ribera Luar, Estepona

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