Step-by-Step Guide to Buying Property in Madrid for Foreigners

Buying property in Madrid as a foreigner is common, but the process has steps you must follow correctly. First, you’ll need an NIE number (foreigner identification number). Next, plan your budget including taxes, notary fees, registration, and potential agency fees. The purchase process typically includes selecting a property, negotiating, signing a reservation contract, paying a deposit (arras), and then signing the final deed (escritura) before a notary. This guide explains each step clearly and helps you avoid common mistakes—like skipping a property debt check, misunderstanding community fees, or underestimating renovation costs. We also cover typical timelines and documents required. Whether you are buying a home, a second residence, or an investment property, it’s recommended to work with a trusted legal advisor who understands Madrid real estate.