HOW TO BUY REAL ESTATE IN MARBELLA?

Purchasing real estate in Marbella and Spain in general requires a careful approach and local knowledge. Let's look at the key stages of the process.

1. Obtaining a Foreigner Identification Number (NIE): This number is required for all financial transactions in Spain, including the purchase of real estate.

2. Due Diligence: Before buying, it is important to make sure that the object is legally clean, free of encumbrances and debts. It is recommended to engage a qualified lawyer for this task.

3. Reservation of the object and making an advance payment: Usually, to secure the right to the property, an advance payment of about 10% of its value is made. If the buyer backs out of the deal, the deposit may be forfeited. If the seller refuses, the seller must return double the amount of the deposit.

4. Signing of the private sale contract: After the inspections are completed and the terms are agreed upon, the parties enter into a private contract recording the details of the transaction.

5. Registration of the transaction at a notary: The final stage includes signing the notarial deed (escritura pública) and registering the title in the Real Estate Registry.

Taxes and additional costs:

Property Transfer Tax (ITP): For secondary properties, the rate varies from 6% to 10% depending on the region. When buying a new-build property, VAT (IVA) of 10% and stamp duty (AJD) of 1-1.5% apply.

Annual taxes: Owners are required to pay a real estate tax (IBI), which ranges from 0.4% to 1.1% of the cadastral value. A non-resident income tax return (Modelo 210) must also be filed if the property is used for rental or remains unoccupied.

Additional costs: Notary services and registration costs range from 0.5% to 1.5% of the value of the property. In addition, apartment owners in apartment buildings pay utility fees for maintenance of common areas and infrastructure.

Legal nuances:

Foreign buyers should be aware of possible restrictions, such as purchasing real estate near military facilities or in protected areas. It is also recommended to take out insurance to protect the property from various risks.

Buying real estate in Spain requires careful attention and compliance with all legal procedures. Contacting local professionals will help to avoid possible problems and ensure the successful completion of the transaction.
 

Co-founder

Max Bykov

Max Bykov - founder of Muse Real Estate Over more than a decade in property, Max Bykov has established himself as a professional with a deep understanding of the market and a strategic vision. Living in Spain for 14 years, he has learnt the Costa del Sol in depth, building strong relationships with key players in the industry, from developers to legal advisors. In 2024, he founded Muse Real Estate, an agency focused on an analytical approach, transaction transparency and customised solutions. Through years of experience and strong leadership skills, he has built a team capable of working effectively with both private clients and large investors. Max has an educational background that has shaped his analytical mindset and ability to build long-term strategies. His way of working is based on precision, attention to detail and the ability to balance commercial advantage with client needs. In a rapidly changing market, he does not focus on quick deals, but on sustainable partnerships and the long-term value of each acquisition.