Buying in Spain’s a ‘Breeze’ with Taylor Wimpey España

New Knight Frank European Lifestyle Report highlights financial and practical benefits of owning property in Spain

With the Spanish summer sunshine still within grasping distance of recent memory, but increasingly grey skies here in the UK, it’s easy to see why many families consider buying second homes in Spain at this time of year. Enjoying the outdoor lifestyle, with all the associated health benefits, is a great deal simpler when it’s not pouring with rain.

Buying a property in Spain, though, is about far more than regular access to sunshine. According to Knight Frank’s new European Lifestyle Report, Spain now leads Europe in GDP growth forecasts and outperforms in terms of property price growth, making a compelling financial argument for investing in a home there. Spain also ticks all the right boxes in terms of practical family considerations; of the five international schools the report identifies as among the top in Europe, two are in Spain (The American School of Madrid and Marbella’s Aloha College). It follows, then, that Knight Frank now ranks Spain among the top five beneficiary destinations in Europe for High-Net-Worth relocation.
Buying a property in Spain isn’t difficult, in process terms, but there are sticking points to look out for. With this in mind, leading Spanish home builder Taylor Wimpey España has shared top tips on buying property in Spain, for anyone seeking to convert their summer holiday into a long-term property investment.

Obtain your NIE
First and foremost, advises Marc Pritchard, Sales and Marketing Director at Taylor Wimpey España, you’ll need a Número de Identidad de Extranjero – a foreign identity number.

“Having an NIE is fundamental to your home-buying paperwork progressing smoothly,” Pritchard explains. “Everything from your property deed to your tax bill will need this number. Your solicitor should be happy to obtain it for you, or you can do so in person at a Spanish consulate, if you prefer.”
Taylor Wimpey España provides top tips for a smooth buying process

Set your budget
Before you fall in love with an unaffordable dream home, work out your budget – not just for the cost of the property, but for taxes, legal fees and other expenses. As a rough guide, you’ll need to allow somewhere around 10-15% of the purchase price to cover such fees.

Work out your funding model
If you don’t have the funds to buy a Spanish property outright, you’ll need to decide whether you’re going to borrow in the UK or in Spain to fund your purchase.

If you’re resident in the UK, Spanish banks will generally let you take out a mortgage for around 60-70% of the property’s value, so you’ll need to fund the remaining 30-40% yourself.
UK high-street banks generally won’t provide mortgages for buying homes in Spain, but some international or private banks may provide specialist products to high-net-worth individuals who plan to do so. What you can do in the UK is remortgage or take an equity release on your UK home in order to purchase a Spanish property outright, effectively using your UK home as the security.
However you’re funding your purchase, having a Spanish bank account is likely to make things easier, so factor in time to take care of that as part of your home-buying plans.
Breeze in Alicante provides stunning new homes due for completion in October 2025

Appoint a lawyer
Your Spanish property lawyer can handle the paperwork while reducing your risk of unexpected bills. For example, council tax (IBI) and community fees in Spain apply to a property, including any fees that are unpaid at the time the property is sold. Your lawyer can save you from plenty of unforeseen headaches. They can also help you with translation, including when you complete your purchase.
Completion requires you to complete the payment for your property and receive the keys in front of a Spanish notary. Having your lawyer there to translate and guide you through the process will provide plenty of peace of mind. You can also provide your lawyer with a power of attorney to handle the process for you, if you can’t attend in person.

Taylor Wimpey España’s Marc Pritchard advises: “There will be taxes to pay following your purchase, utilities contracts to arrange, insurance to take out and visas to obtain if you plan to spend more than 90 days in any rolling 180-day period in the Schengen area. As such, finding a lawyer you can build a long-term relationship with is always a sensible move. Doubly so if you don’t speak Spanish fluently.”

Enjoy the journey
While there are various financial and legal hoops to jump through, buying a property in Spain is an exciting venture, so be sure to enjoy the process. If you’re looking for a sustainable home with minimal running costs, then buying a new build property can make a lot of sense.

The excitement of discovering new build properties, such as Breeze in Balcón de Finestrat (Alicante), starts with visiting the show home. This is your chance to get a feel for the development and see if you can picture yourself enjoying the local lifestyle.

Priced from €435,000 plus VAT for a semi-detached house or from €550,000 plus VAT for a villa, Breeze offers a quiet, well-connected area close to Benidorm, beautiful beaches and the Puig Campana golf course. The southeast-facing homes, which are set around a communal swimming pool and extensive landscaped gardens, are due for completion in October 2025.

For more information, please contact Taylor Wimpey España on 08000 121 020 or visit https://www.taylorwimpeyspain.com/.
If you reside outside of the UK, you will need to call 00 34 971 706 972.