Complete Guide to Buying Property in Spain from the Baltics

Buying property in Spain has become increasingly popular among residents of Estonia, Latvia, and Lithuania. With direct flights to Alicante taking just 3.5 to 4 hours, the Spanish coast is closer than ever. This guide walks you through every step of the process.

Step 1: Define Your Budget and Goals

Before beginning your property search, determine your total budget including purchase costs. In Spain, you should add approximately 12-15% on top of the property price for taxes, legal fees, notary costs, and registration. For a new-build property priced at €200,000, expect total costs of around €224,000-€230,000.

Step 2: Obtain Your NIE Number

The NIE (Número de Identidad de Extranjero) is a foreigner identification number required for any financial transaction in Spain. You can apply through the Spanish consulate in Tallinn, Riga, or Vilnius, or upon arrival in Spain. Processing takes 2-4 weeks through the consulate. Revalia helps coordinate this process for all our clients.

Step 3: Property Search and Viewing Trip

We recommend visiting Spain to view properties in person. Revalia organizes viewing trips that typically last 3-5 days, during which you can see 10-15 pre-selected properties matching your criteria. We arrange accommodation, airport transfers, and a dedicated agent who speaks your language.

Step 4: Reservation and Deposit

Once you find your ideal property, you make a reservation with a deposit of €3,000-€6,000. This takes the property off the market while contracts are prepared. For new-build properties still under construction, delivery timelines range from 12 to 24 months.

Step 5: Private Purchase Contract

Within 30 days of reservation, you sign the private purchase contract and pay 10% of the property price (minus the reservation deposit). At this stage, having a Spanish bank account is essential. We connect you with banks experienced in working with Baltic buyers.

Step 6: Completion at the Notary

The final step is signing the deed (escritura) at the Spanish notary. You pay the remaining balance, receive the keys, and the property is officially yours. If you cannot travel to Spain, a power of attorney allows Revalia or your lawyer to complete the purchase on your behalf.

Financing Options

Spanish banks offer mortgages to non-residents, typically covering 60-70% of the property value. Interest rates are competitive, and terms can extend up to 25 years. EU citizens from Estonia, Latvia, and Lithuania benefit from simplified documentation requirements.

Tax Considerations

For new-build properties, you pay 10% VAT (IVA) plus 1.5% stamp duty (AJD). Resale properties carry a transfer tax of 6-10% depending on the region. Annual costs include IBI (property tax) at approximately 0.4-1.1% of cadastral value, plus community fees if applicable.

Why Choose Revalia?

As a Baltic-based agency, we understand the specific needs and concerns of Estonian, Latvian, and Lithuanian buyers. We provide end-to-end support in your language, from initial consultation through to after-sales property management. Our team has helped hundreds of Baltic families find their dream home in Spain.