How Much Property Can I Afford in Spain as a Non-Resident?

Discover what property you could buy as a non-resident based on your available savings

Do you know how much you have saved but are unsure what property price you can afford in Spain?

When purchasing a Spanish property with a mortgage, your savings normally need to cover:

• The part of the purchase price that the bank does not finance.
• Property taxes and purchase expenses.
• Any difference between the purchase price and the bank valuation.
• A sensible financial reserve for unexpected costs.

This guide provides a simple estimate of the property price you could consider, the mortgage you may need and the approximate monthly payment.

Information and calculations updated on 21 July 2026.

Quick Guide: Your Savings and Estimated Property Budget

For non-resident buyers, Spanish banks generally finance up to a maximum of 70% of the lower of the property purchase price or the bank valuation. This means that the buyer must normally contribute at least the remaining 30% from their own savings, in addition to the taxes and costs associated with the purchase.

The following examples assume:

Mortgage financing of up to 70%.
Buyer contribution of 30%.
Estimated taxes and purchase costs of 12%.
An illustrative annual interest rate of 2.90%.
A mortgage repayment term of 20 years.

If you have €50,000 in savings

Approximate property price: €119,000
Estimated mortgage: €83,000
Approximate monthly payment: €456

If you have €75,000 in savings

Approximate property price: €179,000
Estimated mortgage: €125,000
Approximate monthly payment: €687

If you have €100,000 in savings

Approximate property price: €238,000
Estimated mortgage: €167,000
Approximate monthly payment: €918

If you have €125,000 in savings

Approximate property price: €298,000
Estimated mortgage: €208,000
Approximate monthly payment: €1,143

If you have €150,000 in savings

Approximate property price: €357,000
Estimated mortgage: €250,000
Approximate monthly payment: €1,374

If you have €200,000 in savings

Approximate property price: €476,000
Estimated mortgage: €333,000
Approximate monthly payment: €1,830

If you have €250,000 in savings

Approximate property price: €595,000
Estimated mortgage: €417,000
Approximate monthly payment: €2,291

These figures are approximate and provided for general information only.

Having enough savings does not automatically mean that the corresponding mortgage will be approved. Your income, existing debts and monthly financial commitments must also support the requested loan.

Maximum Mortgage Term and Applicant Age

For non-resident buyers, Spanish banks commonly offer mortgage terms of up to 20 or 25 years, depending on the applicant’s financial profile and the lender’s criteria. Age is an important factor because most banks require the mortgage to be fully repaid before the oldest applicant reaches the bank’s maximum permitted age, often around 70 to 75 years. As a result, older applicants may be offered a shorter term, which increases the monthly payment, while younger applicants may be able to access a longer repayment period.

How Is Your Estimated Property Budget Calculated?

A non-resident buyer may be able to obtain a Spanish mortgage of up to approximately 70% of the lower of:

• The agreed purchase price.
• The bank valuation.

The remaining 30% must normally be paid from the buyer’s own funds.

The buyer must also have enough savings to pay the taxes and expenses associated with the purchase. For the examples on this page, we use 12% of the property price as a general planning estimate.

Your savings would therefore cover approximately:

• 30% of the property price as your contribution.
• 12% for estimated taxes and buying costs.

Together, these amounts represent approximately 42% of the property price.

Simple example

If you have €100,000 available:

€100,000 ÷ 42% = approximately €238,000

You could therefore initially consider a property priced at approximately €238,000, provided that your income supports the required mortgage.

Example: Buying a Property with €100,000 in Savings

If you have €100,000 available for a property purchase in Spain, your estimated budget could be:

Approximate property price

€238,000

Estimated mortgage at 70%

€167,000

Your contribution towards the purchase price

€71,000

Estimated taxes and buying costs

€29,000

Approximate total savings required

€100,000

Estimated monthly mortgage payment

Approximately €918 per month

The monthly payment is calculated using an illustrative annual nominal interest rate of 2.90% over 20 years.

The actual payment will depend on the final interest rate, mortgage term and conditions approved by the bank.

How Much Deposit Does a Non-Resident Need in Spain?

Spanish banks generally provide lower financing percentages to non-residents than to buyers purchasing their main residence while living and paying taxes in Spain.

As an initial guide, a non-resident mortgage may finance up to approximately 70% of the lower of the purchase price or bank valuation.

With 70% mortgage financing:

• The bank finances approximately 70%.
• The buyer contributes approximately 30%.
• Taxes and purchase expenses are paid separately.

The percentage offered may be lower depending on your financial profile, country of residence, income currency, age, requested mortgage amount and the property being purchased.

What happens if the bank finances only 60%?

If the bank offers 60% financing, you would need to contribute 40% of the property price, plus taxes and expenses.

For a €300,000 property:

• Estimated mortgage: €180,000.
• Buyer contribution: €120,000.
• Estimated taxes and costs at 12%: €36,000.
• Approximate total savings required: €156,000.
• Estimated monthly mortgage payment: approximately €989.

This is why confirming your possible mortgage percentage before committing to a property is important.

Taxes and Buying Costs in Spain

Your savings must cover more than the deposit.

The purchase may involve:

• Property Transfer Tax or VAT.
• Stamp Duty, where applicable.
• Notary expenses.
• Land Registry expenses.
• Independent legal advice.
• Property valuation.
• Other administrative and transaction costs.

For the examples on this page, we use 12% of the property price as a practical initial estimate.

The actual amount will depend on:

• The autonomous region where you buy.
• Whether the property is new or resale.
• The purchase price.
• The circumstances of the transaction.

The 12% figure is not an exact tax quotation. Your lawyer should calculate the applicable taxes and costs before you sign a purchase contract.

Resale properties

A resale property is generally subject to Property Transfer Tax, known as ITP.

The applicable rate is determined by the autonomous region where the property is located. The cost of purchasing a property in Andalusia may therefore differ from the cost of purchasing a similar property in Madrid, Catalonia, the Valencian Community or the Balearic Islands.

New-build properties

A new residential property purchased directly from a developer is generally subject to:

• 10% VAT.
• Stamp Duty, known as AJD.

The applicable Stamp Duty rate varies according to the autonomous region.

Legal, registration, valuation and other transaction expenses must also be included in the buyer’s budget.

Why the Bank Valuation Matters

The maximum mortgage is not necessarily calculated using the price agreed with the seller.

Spanish banks normally consider the lower of:

• The property purchase price.
• The official bank valuation.

Imagine that you agree to buy a property for €300,000, but the bank valuation is €280,000.

If the bank finances 70% of the valuation:

• Estimated maximum mortgage: €196,000.
• Amount required towards the purchase price: €104,000.
• Taxes and purchase expenses must be added separately.

A lower valuation can therefore increase the amount of savings you need.

For this reason, it is sensible to maintain a financial reserve rather than committing all your available money to the purchase.

Your Income Must Also Support the Mortgage

Your savings determine the property deposit and purchase costs you may be able to pay.

Your income determines the mortgage you may be able to repay.

The bank will normally assess:

• Your employment or business income.
• The stability of your income.
• Existing mortgages and personal loans.
• Credit card and finance payments.
• Your age.
• The requested mortgage term.
• Your country of residence.
• The currency in which you receive your income.
• Your financial dependants.
• Your credit history.
• The property being purchased.

Two buyers with the same amount of savings may therefore qualify for very different mortgage amounts.

One applicant may have sufficient income to support the maximum mortgage, while another may need to purchase a less expensive property or make a larger contribution.

Based on Our Experience with Non-Resident Mortgages

Many international buyers begin searching for properties based only on the amount they have available for a deposit.

In practice, the final property budget also depends on:

• The mortgage amount supported by the buyer’s income.
• The bank valuation.
• The applicable purchase taxes.
• The financing percentage offered.
• Existing debts and monthly commitments.
• The documentation available to support the application.

Checking your borrowing capacity before signing a reservation or purchase contract can help you search within a realistic price range and reduce the risk of committing to a property that cannot be financed.

Estimated Monthly Mortgage Payments

The following examples use an illustrative annual nominal interest rate of 2.90% and a 20-year mortgage term.

Mortgage amountApproximate monthly payment

100,000€...............550€

150,000€...............825€

200,000€..............1,099€

250,000€...............1,374€

300,000€................1,649€

400,000€.................2,198€

500,000€..................2,748€

These estimates include mortgage capital and interest only.

They do not include:

• Home insurance.
• Life insurance.
• Bank account costs.
• Optional linked products.
• Community fees.
• Property maintenance.
• Local property taxes.

The 2.90% interest rate is used only to illustrate the calculations and does not represent a guaranteed mortgage rate or offer.

How Much Savings Do You Need for a €300,000 Property?

Using mortgage financing of 70% and estimated costs of 12%:

Property price

€300,000

Estimated mortgage

€210,000

Buyer contribution

€90,000

Estimated taxes and purchase costs

€36,000

Approximate savings required

€126,000

Estimated monthly mortgage payment

Approximately €1,154 per month

Your income must also be sufficient to support the €210,000 mortgage and your existing monthly commitments.

How Much Savings Do You Need for a €500,000 Property?

Using the same assumptions:

Property price

€500,000

Estimated mortgage

€350,000

Buyer contribution

€150,000

Estimated taxes and purchase costs

€60,000

Approximate savings required

€210,000

Estimated monthly mortgage payment

Approximately €1,923 per month

The amount required could be higher if the valuation is lower than the purchase price or the applicable taxes and expenses exceed the 12% estimate.

Should You Use All Your Savings?

The figures on this page show an estimated maximum property price. This does not necessarily mean that you should use all your available savings.

After completing the purchase, you may need money for:

• Furniture.
• Renovations or repairs.
• Moving costs.
• Insurance.
• Community fees.
• Local taxes.
• Utility connections.
• Future mortgage payments.
• Unexpected expenses.

For example, if your estimated maximum property budget is €300,000, you may prefer to search for properties between €260,000 and €280,000.

This would allow you to maintain a financial reserve and reduce financial pressure after the purchase.

Can a Non-Resident Get a Mortgage in Spain?

Yes. Spanish banks provide mortgages to people who live and pay taxes outside Spain.

However, the available financing and conditions depend on factors such as:

• Country of residence.
• Income currency.
• Employment or business activity.
• Existing financial commitments.
• Age and requested mortgage term.
• Requested mortgage amount.
• Property type and location.
• Supporting documentation.

Mortgage in Spain specialises in helping international and non-resident buyers obtain financing for property purchases in Spain.

Why Residents Can Usually Borrow More

Spanish banks normally offer non-resident buyers a lower loan-to-value ratio because their income, tax position and credit history are based outside Spain. This can make the information more complex to verify and the mortgage more difficult for the bank to manage if repayments are not made.

For this reason, non-resident mortgages are commonly limited to approximately 70% of the lower of the purchase price or bank valuation. Buyers who are established in Spain and purchasing their main residence may be able to obtain around 80% financing or, in selected cases, more.

However, simply living in Spain or holding a Spanish residence permit does not automatically mean that a bank will treat you as a Spanish tax resident for mortgage purposes. In many cases, banks will expect the applicant to have submitted at least one Spanish personal income tax return, together with evidence of stable income in Spain.

Every application must be assessed individually.

For example, a senior executive or CEO of an international company who has recently relocated to Madrid under a permanent employment contract may still present a strong resident profile. The bank can consider the applicant’s salary, employer, professional history, stability and reason for relocating, even if their Spanish financial history is still limited.

By contrast, a foreign applicant who has recently registered as self-employed in Spain may need to demonstrate a longer trading history, stable income and completed Spanish tax returns before a bank is willing to offer resident-level financing. Newly established self-employed income is generally considered less predictable than a senior salaried position.

The financing percentage will therefore depend on factors such as:

• Spanish tax history.
• Source and stability of income.
• Employment or business profile.
• Length of time living and working in Spain.
• Existing debts and monthly commitments.
• Property type and bank valuation.
• The lending criteria of each bank.
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Why Specialist Mortgage Advice Matters

This is why obtaining specialist advice from an experienced mortgage broker is particularly important.

At Mortgage in Spain, we understand that residency status alone does not determine the final financing percentage. We analyse the complete financial profile, identify its strengths and present each application to the banks whose criteria are most suitable for that particular client.

Our experience handling international, recently relocated, salaried, executive and self-employed profiles allows us to structure each application correctly from the beginning and manage it with the most appropriate banks.

The objective is not simply to request the highest possible financing. It is to determine what financing is realistically available, prepare the application properly and improve the chances of obtaining suitable mortgage conditions for each individual case.

Discover Your Real Property Budget in Spain

The examples on this page provide a useful starting point, but your real property budget depends on both:

• The savings you have available.
• The mortgage your income can support.

Mortgage in Spain can review your circumstances and explain:

• The mortgage amount you may be able to obtain.
• The property price you could realistically consider.
• The savings you should have available.
• The approximate monthly payment.
• The documents required for the application.
• The financing options available for your profile.

Planning to buy a property in Spain?

Tell us your savings, income, existing commitments and expected purchase price. Our mortgage specialists will help you understand what you could realistically afford before you commit to a property.

Check How Much Mortgage You Could Obtain

Frequently Asked Questions

How much can a non-resident borrow in Spain?

A non-resident may be able to obtain a mortgage of up to approximately 70% of the lower of the property purchase price or the bank valuation.

The final percentage depends on the applicant, the bank and the property.

How much savings do I need to buy a property in Spain?

With mortgage financing of 70%, you may need approximately 30% of the property price as your contribution, plus taxes and buying expenses.

Using estimated expenses of 12%, your savings may need to represent approximately 42% of the property price.

Are property taxes included in a Spanish mortgage?

Normally, no. Purchase taxes and transaction expenses must generally be paid from the buyer’s own funds.

Does having enough savings guarantee mortgage approval?

No. Your income and existing financial commitments must also support the requested mortgage.

What happens if the valuation is lower than the purchase price?

The bank may calculate the mortgage using the lower valuation. This means that you may need to contribute more savings.

Is the 2.90% interest rate guaranteed?

No. It is an illustrative annual nominal interest rate used only to calculate the examples on this page.

Can Mortgage in Spain assess my situation before I find a property?

Yes. Mortgage in Spain can review your income, debts and savings before you select a property and provide an initial indication of your potential mortgage and property budget.

Important Information

The information and calculations on this page are updated as of 21 July 2026.

The examples assume:

• Mortgage financing of 70%.
• Buyer contribution of 30%.
• Estimated taxes and purchase expenses of 12%.
• An illustrative annual nominal interest rate of 2.90%.
• A mortgage term of 20 years.

All figures are approximate and provided for general information only.

They do not constitute a mortgage offer, financial advice, legal advice, tax advice or confirmation of financing.

Mortgage approval depends on the applicant’s income, debts, age, country of residence, documentation, the property, the valuation and the lender’s criteria.

Taxes and purchase costs vary according to the autonomous region, property type, transaction value and buyer’s circumstances.

The final financing conditions, taxes, expenses and monthly payments must be confirmed for each individual purchase.

Find Out What You Could Really Afford in Spain

Every mortgage application is different. Your savings are important, but the amount you can borrow will also depend on your income, debts, residency status, professional profile and the property you want to purchase.

At Mortgage in Spain, we assess your complete situation and present your application to the banks whose criteria best match your profile.

Tell us your savings and financial situation, and we will explain what property budget and mortgage you could realistically consider in Spain.