Cost to Buy Property in Spain 2026: Prices per m², Taxes & Fees by City
Updated 24 July 2026 · 8 min read
Flatspain tracks Spanish housing costs to benchmark rents, and the 2026 national average to buy sits near €2,300/m², ranging from about €1,900/m² in Granada to €3,700/m² in Madrid and above €4,000/m² in Palma. Budget a further 10–13% of the purchase price for transfer tax, notary and registry fees. Flatspain itself finds rentals, not purchases — renting first for six months is the cheapest way to test a barrio before committing to buy in it.
How much does it cost to buy property in Spain in 2026?
The average asking price for a home in Spain in 2026 is about €2,300 per square metre, with the median closer to €2,000/m². A typical 90 m² apartment therefore costs roughly €180,000–€210,000 nationally, but the city you buy in changes that figure by two to three times.
Prices in the big economic hubs and tourism hotspots (Madrid, Barcelona, Málaga, Palma, Valencia and Alicante) recorded double-digit growth in both 2024 and 2025, and remain near all-time highs going into 2026. Inland cities and smaller towns are far cheaper.
Average purchase price per m² by city (2026)
Representative 2026 asking prices per square metre for a resale apartment, with an indicative total for a 90 m² flat. Figures are drawn from Idealista, Investropa, Tranio and Global Property Guide market data and rounded to the nearest realistic band.
| City | Price €/m² | ≈ 90 m² apartment | Market note |
|---|---|---|---|
| Madrid | €3,700 | €333,000 | Highest of the big cities; no rent cap |
| Palma de Mallorca | €4,100 | €369,000 | Island premium, strong foreign demand |
| Barcelona | €3,000 | €270,000 | Rent-cap zones; tight supply |
| Málaga | €3,100 | €279,000 | Fastest-rising mainland hotspot |
| Bilbao | €2,900 | €261,000 | Steady northern market |
| Valencia | €2,300 | €207,000 | Popular with expats, still rising |
| Alicante | €2,000 | €180,000 | Costa Blanca value |
| Sevilla | €2,100 | €189,000 | Affordable big city in the south |
| Granada | €1,900 | €171,000 | Cheapest major city on this list |
Representative 2026 resale asking prices. Actual prices vary by neighbourhood, condition and floor.
Taxes and fees when buying (the extra 10–13%)
The headline price is not the total. On a resale (second-hand) home the main tax is the transfer tax (ITP), which is set by each region and typically runs 6–10% of the price. On a brand-new home you instead pay 10% VAT (IVA) plus about 1.5% stamp duty (AJD).
On top of tax, budget for notary and land-registry fees, a property valuation, and legal fees if you hire a lawyer (strongly recommended for foreign buyers). Altogether, plan for roughly 10–13% of the purchase price in taxes and costs.
- Transfer tax (ITP) on resale homes: ~6–10%, depending on the region
- VAT (IVA) on new-build homes: 10%, plus ~1.5% stamp duty (AJD)
- Notary + land registry: ~0.5–1% combined
- Independent lawyer: ~1% (typical), plus a property survey/valuation
- Mortgage costs if financing: valuation fee and, sometimes, an arrangement fee
Can foreigners buy property in Spain?
Yes. There are no restrictions on foreigners buying property in Spain, whether or not they are EU citizens or residents. You do need a NIE (foreigner identification number) to complete the purchase, and a Spanish bank account to handle payments and utilities.
Non-resident buyers can usually get a mortgage for around 60–70% of the property value from Spanish banks, versus up to 80% for residents. Because paperwork and due diligence matter, most foreign buyers use an independent lawyer (not the agent's) to check the property has no debts, is correctly registered and has a valid occupancy certificate.
- Get a NIE and open a Spanish bank account before completion
- Non-residents: expect ~60–70% mortgage loan-to-value
- Hire an independent lawyer to run due diligence (debts, registry, licences)
- Reserve the property with a deposit contract (contrato de arras) before the notary signing
Should you buy or rent in Spain?
If you are still learning the city and its neighbourhoods, renting first is almost always the safer move: it lets you test a barrio before committing 10–13% in transaction costs that you only recoup after several years of ownership. Buyers who stay long-term and buy in a strong-demand hub have done well through 2024–2026, but transaction costs and the recent price run-up mean short-term ownership rarely pays off.
A practical rule many expats use: rent for your first 6–12 months, get to know two or three neighbourhoods first-hand, then buy where you already know you want to live.
Frequently asked questions
How much does it cost to buy an apartment in Spain in 2026?
About €2,300/m² on average nationally, so roughly €180,000–€210,000 for a 90 m² flat. In Madrid (~€3,700/m²) the same flat is over €330,000, while in Granada (~€1,900/m²) it is under €175,000. Add 10–13% for taxes and fees.
What taxes do you pay when buying property in Spain?
On a resale home you pay regional transfer tax (ITP) of about 6–10%. On a new-build you pay 10% VAT plus ~1.5% stamp duty. Add notary, land-registry and legal fees for a total of roughly 10–13% on top of the price.
Can a foreigner get a mortgage in Spain?
Yes. Spanish banks typically lend non-residents around 60–70% of the property value (up to ~80% for residents). You will need a NIE, proof of income and a Spanish bank account.
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