Buying Guide
OLP Group Buying Guide
At OLP Group, our goal is to help you find a home that perfectly fits your lifestyle, preferences, and financial goals. With years of expertise and a trusted network of professionals, we provide access to the best properties on the market and handle every stage of the process with care.
Your dedicated broker will guide you from the first viewing to the final signature—coordinating property searches, visits, negotiations, and legal matters—to ensure a smooth and stress-free purchase experience.
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Buying as a Foreigner in Marbella
Purchasing property abroad can seem complex, but with the right guidance, it’s straightforward. Here are the essentials you should know:
NIE Number
Foreign buyers must obtain an NIE number, a personal tax ID required for property transactions, taxes, or opening a bank account in Spain. Your lawyer can apply for it on your behalf under Power of Attorney. OLP Group can connect you with trusted legal partners who handle this efficiently.
Financing Options
Non-residents can typically borrow up to 70% of a property’s value. Spanish banks require proof of income, tax returns, and credit history.
Getting pre-approved strengthens your position—sellers take you more seriously, and you can act fast once you find the right home.
Step-by-Step Buying Process
1. Reservation Contract
Secure your chosen property with a small reservation fee (usually around 1%). It’s held by your lawyer, and the home is taken off the market for about two weeks while checks begin.
2. Due Diligence
Your lawyer verifies that the property is legally sound, debt-free, and correctly registered. This process typically takes 10–14 days.
3. Private Purchase Contract (PPC)
Once due diligence is complete, both parties sign a binding purchase contract. The buyer pays around 10% (minus the reservation). If the buyer withdraws, they lose the deposit; if the seller does, they must return double.
4. Title Deed & Registration
Final payment and signing take place before a notary. Fees range between €500–€3,000. Once registered, utilities and ownership details are transferred to your name.
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Taxes and Fees in Andalucía
Taxes vary depending on whether you’re buying a new or resale property:
Resale Properties – Transfer Tax (ITP):
•Standard rate: 7% of purchase price
•6% for primary homes under €150,000
•3.5% for buyers under 35, large families, or those with disabilities (under €250,000)
•2% for certified property resellers who sell again within five years
New Properties – VAT & Stamp Duty:
•10% VAT on the purchase price
•1.2% Stamp Duty (AJD) in Andalucía
Capital Gains (Plusvalía Municipal):
Paid by the seller, based on the land’s value increase over time.
Cadastral Value:
Used for calculating taxes like IBI and Wealth Tax; generally lower than market value.
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Annual Property Taxes
Once you own your home in Spain, the following taxes apply annually:
•IBI (Property Tax): 0.4–1.1% of cadastral value
•Non-Resident Income Tax (IRNR):
•24% for non-EU citizens
•19% for EU, Norwegian, or Icelandic residents (deductible expenses allowed)
•Resident Income Tax (IRPF): 19–47% on global income
•Capital Gains on Sale:
•Residents: 19–26% (exemptions for those over 65 selling their main home)
•Non-residents: 19% (EU) or 24% (non-EU)
•Wealth Tax: Effectively eliminated in Andalucía but reporting still required
•Inheritance & Gift Tax: Significantly reduced for close family; consult your lawyer for exact rates
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Your Marbella Home with OLP Group
From initial consultation to handing over the keys, OLP Group ensures your property purchase is seamless and secure. Whether you’re investing or finding your dream home under the Andalusian sun — we’re here to make it happen.
Already well-informed?
If you’re ready to dive deeper into the different areas of Marbella and the Costa del Sol, we invite you to explore our curated area guides. Discover what makes each location unique and find the perfect spot that matches your lifestyle.
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