Spain’s luxury property market is thriving in 2025. With breathtaking villas, stylish penthouses, and serene countryside estates hitting the market, the options are endless when it comes to finding spectacular homes in some of the country’s most desirable locations.
If you’re looking to buy a home in Spain as a non-resident, there can be a lot to try and understand. This guide explores the best places to buy, key considerations, and tips for navigating the Spanish luxury real estate market in 2025.
Why choose Spain for luxury properties?
Spain has become a real hotspot for luxury property, offering plenty of tradition alongside modern comforts. Spain is currently one of the most desirable locations for property purchases in the world.
A warm climate, affordable standard of living and gorgeous views mean that many non-residents are choosing to call Spain home. Retirees and expats are favouring the slower pace of life whilst entrepreneurs and families are taking advantage of the opportunities presented in many Spanish towns and cities.
Lots of choice between coastal paradises and bustling urban centres means that the Spanish market has also shown a lot of resilience and steady growth despite global uncertainties. For investors, this is an attractive prospect.
Best area in Spain to buy property
So where exactly are the most desirable locations for luxury properties in Spain?
Costa del Sol
The Costa del Sol has sun-drenched beaches, world-class golf courses, and a vibrant nightlife to offer, making it ideal for luxury home buyers.
Marbella, in particular, is famous for its exclusive gated communities and excellent amenities, attracting celebrities and high-net-worth individuals from around the world.
With designer shopping and famous areas like Puerto Banús to explore, it’s a location that suits a luxury lifestyle.
The Balearic Islands
Home to Mallorca, Ibiza, and Menorca, these Mediterranean islands are ideal for those who want a blend of natural beauty and modern amenities.
Whether you’re drawn to ultra-modern villas in Ibiza or charming historic estates in Mallorca, the Balearics offer luxury tailored to your preferences.
The Canary Islands
Located off the northwest coast of Africa, the Canary Islands are the perfect location if you’re looking for year-round sunshine.
Tenerife and Gran Canaria lead the way in offering luxurious beachfront properties and with tourism high in these locations, there are lots of modern new developments across the islands.
Madrid
If it’s city living you’re looking for then Madrid may be one of the best luxury options.
Madrid offers elegant apartments in historic neighbourhoods with the added convenience of modern city life at your doorstep.
With good connections to the rest of the country, it’s a fantastic location to see more of what Spain has to offer.
Key considerations for buying luxury property in Spain
When purchasing luxury homes and investment properties in Spain, costs are a vital consideration. Taxes and fees, including property transfer taxes and notary fees, can add up to 10–15% of the property’s price. For high-end properties, these costs can quickly add up.
When buying a property in Spain, it’s advised to work with an advisor or lawyer to ensure the purchase goes smoothly. Being able to properly understand the conditions of your purchase and communicate your questions is vital, which is where third-party assistance can be invaluable.
In addition to purchasing costs, large estates (particularly older homes) can also incur larger maintenance and renovation costs. If you are hoping to have renovations done it’s important to know the legal processes and potential costs in advance to help you budget for the move.
Researching market trends in your favourite locations can be another important step. Coastal areas like Marbella may offer high returns on investment, while cities like Valencia provide better value for money. Accessibility should also factor into your decision. Properties near airports or major transport hubs are more convenient for international buyers and tend to have a higher resale value should you decide to sell in the future.
How to get a mortgage in Spain for foreigners
With this in mind, let’s look at financing a luxury home in Spain.
Securing a mortgage may be a key part of the process when purchasing a luxury property in Spain but the process can be slightly different for non-resident buyers.
Here’s a step-by-step guide.
- Research Mortgage Options: Spanish banks offer a variety of mortgage types, including fixed-rate, variable-rate, and mixed-rate options. Non-residents may be limited in the type of mortgage that is available so it’s important to discuss options with an expert to understand what is possible.
- Check Eligibility: Non-residents can apply for mortgages in Spain, but most banks will only finance up to 60–70% of the property’s value. This means that many buyers from other countries will need significantly higher deposits for luxury homes.
- Prepare Documents: Lenders typically require proof of income, tax returns, credit history, and details of your existing debts. Non-residents may also need to provide a copy of their NIE (Foreigner Identification Number).
- Understand Costs: In addition to interest rates, consider additional costs such as arrangement fees, property valuation fees, and insurance requirements. These are typically an extra 10-15% of the total purchase price. Be sure you completely understand your financial obligations before proceeding with the purchase of a property.
- Obtain Pre-Approval: Securing pre-approval can make you a more competitive buyer, especially in high-demand luxury markets. It can mean you’re able to act quickly on properties in desirable areas and secure your dream home or investment property.
Spain’s luxury property market in 2025
Spain’s luxury property market in 2025 offers something for everyone, from the sun-drenched villas of Marbella to chic city apartments in Barcelona.
Whether you’re seeking a holiday home or a permanent residence, understanding the market and working with professionals will ensure a successful purchase.
By choosing the right location, budgeting wisely, and staying informed about market trends, you can make your dream of owning a luxury property in Spain a reality.
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