How to Buy Property in Torrevieja and Costa Blanca as a Foreigner

Buying property in Spain is not complicated when you understand the steps, the costs and the people involved. This guide explains how foreign buyers usually purchase property in Torrevieja and Costa Blanca: from defining the real budget and choosing the right area to reservation, legal checks, notary signing and post-purchase formalities. The most important rule is simple: do not reserve a property only because the photos look good. First, understand the total budget, the area, the legal process and whether the property truly fits your purpose.

1. 1

   Step 1 — Define your real budget before searching

   Before looking seriously at properties in Torrevieja or Costa Blanca, you need to know your real buying budget, not only the price you see online.

   For resale properties in the Valencian Community, the general transfer tax — ITP/TPO — is 9% from 1 June 2026 for most property purchases up to €1,000,000. On top of this, buyers must also calculate notary, land registry, lawyer and administrative costs.

   As a practical estimate, foreign buyers should usually budget around 11–13% on top of the property price for a resale home, depending on the exact property, professional fees and buyer situation.

   Example: if you buy a resale apartment for €120,000 in Torrevieja, the ITP/TPO would usually be €10,800. With notary, registry, lawyer and other costs, your realistic total budget may be around €133,000–€136,000.

   For new-build properties, buyers normally pay 10% VAT/IVA plus AJD and other purchase costs.

   If you are buying with a Spanish mortgage as a non-resident, many banks may require around 30% of the property price as a down payment, plus taxes and purchase costs.

   Knowing these numbers from the beginning prevents wasted visits, unrealistic searches and disappointment later.

2. 2

   Step 2 — Choose the right area, not only the right apartment

   Many foreign buyers search for “property in Torrevieja” as if the whole area were the same. It is not.

   La Mata, Playa del Cura, Los Locos, Acequión, La Veleta, Los Balcones, Punta Prima, Playa Flamenca and Orihuela Costa all attract different types of buyers.

   Some areas are better for beach access. Others are better for permanent living, parking, schools, quiet residential life, rental demand or retirement.

   Before choosing a property, you should be clear about your purpose:

   holiday home; retirement; relocation; rental investment; future move to Spain; family use.

   A good property in the wrong area can become a bad decision. The area must match how you plan to use the home.

3. 3

   Many foreign buyers search for “property in Torrevieja” as if the whole area were the same. It is not.

   La Mata, Playa del Cura, Los Locos, Acequión, La Veleta, Los Balcones, Punta Prima, Playa Flamenca and Orihuela Costa all attract different types of buyers.

   Some areas are better for beach access. Others are better for permanent living, parking, schools, quiet residential life, rental demand or retirement.

   Before choosing a property, you should be clear about your purpose:

   holiday home; retirement; relocation; rental investment; future move to Spain; family use.

   A good property in the wrong area can become a bad decision. The area must match how you plan to use the home.TEXT MARKDOWN

   A NIE number is the foreigner identification number used in Spain. You normally need it to buy property, pay taxes, open a bank account and sign documents.

   Depending on your situation, the NIE can be obtained in Spain or through a Spanish consulate abroad. The process can vary, so it is better to prepare early instead of waiting until the last moment.

   Foreign buyers should also prepare basic documents such as passport or ID, proof of funds, income documents if applying for a mortgage, and any paperwork requested by the lawyer or bank.

   For mortgage buyers, preparation is especially important because the bank will need to check income, debts and financial profile before confirming conditions.

   The better your documents are prepared, the easier the buying process becomes.

4. 4

   Step 4 — Open a Spanish bank account

   A Spanish bank account is usually needed for the purchase process, taxes, utilities, community fees and future property expenses.

   Some non-resident buyers can open an account before completion, depending on the bank and the documents available. If you are applying for a Spanish mortgage, the bank account will usually be part of the process.

   It is important to work with a bank that understands foreign buyers and can explain the requirements clearly.

   For clients buying from abroad, this step should not be left until the last day before signing. Delays with bank documents can slow down the purchase.

5. 5

   Step 5 — Reserve the property only after understanding the conditions

   When you find a suitable property, the next step is usually a reservation agreement and a reservation deposit.

   In many cases, the reservation deposit can be around €3,000–€5,000, depending on the property and agreement. This usually takes the property off the market while the next legal and contractual steps are prepared.

   Before paying a reservation, you should understand:

   who receives the deposit; whether the amount is refundable or non-refundable; what conditions are written in the reservation document; what happens if the legal checks reveal a problem; what timeline is expected for the next contract and notary; whether mortgage approval is part of the condition.

   Do not reserve a property only because you are afraid to lose it. Reserve it when the price, area, conditions and process are clear.

   A property can look attractive online and still be wrong for your situation. This is why local guidance before reservation is important.

6. 6

   Step 6 — Let an independent lawyer check the property

   An independent lawyer is strongly recommended when buying property in Spain, especially if you are a foreign buyer.

   The lawyer should check the legal situation of the property before completion. This can include ownership, debts, mortgages, community fees, IBI tax, building status, licences, contracts and any legal issue that may affect the purchase.

   The lawyer does not choose the property for you. The lawyer protects you legally once you decide to move forward.

   This is an important distinction. A buyer’s agent helps you understand the property, the area and the market. A lawyer checks the legal security of the purchase.

   Both roles are useful, and they should work together in the buyer’s interest.

7. 7

   Step 7 — Sign at the notary and complete the purchase

   The final purchase deed is signed before a Spanish notary. At this point, the balance of the price is paid, the deed is signed and the keys are handed over.

   After completion, the property must be registered in your name at the Land Registry. Taxes, utilities, community fees and other formalities must also be handled.

   If you cannot be in Spain for every step, your lawyer may be able to represent you through a power of attorney, depending on your situation and the documents prepared.

   The purchase is not only about signing at the notary. A smooth process depends on preparing the budget, documents, legal checks and banking steps correctly before that day.