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Home›Luxury Real Estate›Spain Real Estate
Marbella’s Golden Mile, the sea-view villas of south-west Mallorca and the hills of Ibiza: open to every nationality, with a transfer tax that depends on the region you buy in.
At a glance
Why buy here
Spain holds three of the Mediterranean’s great second-home markets: the Costa del Sol around Marbella, the Balearic Islands and the coast of Catalonia. Each has its own airport links, its own season and, because transfer tax is set by the regions, its own buying costs.
Marbella is the market of the Golden Mile and Sierra Blanca, with frontline villas and gated hillside estates at La Zagaleta. In Mallorca the prize addresses are in the south-west, from Port d’Andratx to Son Vida; Ibiza’s finest villas sit above Es Cubells and Cala Jondal.
Foreigners buy freehold, with no reciprocity test. The golden visa for real estate has closed, and the proposed 100% tax on non-EU buyers lapsed with the dissolution of parliament. For hotels, yachts and tables, see our guide to luxury Spain.
Who can buy
Freehold for everyone. Foreign individuals and companies can own full freehold (pleno dominio). There is no reciprocity test, and US citizens are treated like other non-EU buyers.
The coast. The Ley de Costas public-domain and easement strips limit building near the shore, and some older beachfront homes are held under concession rather than freehold. Your lawyer should check this on any frontline property.
Rural land. Rústico land generally cannot carry a new house. Check the planning status (urbanismo) carefully, above all on Ibiza and Mallorca.
Best areas to buy
Indicative asking prices per square metre, with source and year. Area averages include ordinary stock; trophy homes sell well above them.
Frontline beach villas, Puente Romano and the hillside of Sierra Blanca; La Zagaleta’s gated mega-villas are minutes inland.
€8,336/m²Indicative asking price, Nagüeles–Milla de Oro: idealista index, August 2026 (via Drumelia). Individual prime villas have sold at last asking prices of about €15,000–22,500/m².
Marbella, Benahavís & Estepona: Territory page →
Polo, the marina and the La Reserva golf estates, at the western end of the Costa del Sol.
No verified figureNo 2025–2026 per-square-metre figure could be confirmed.
Sotogrande: Territory page →
Sea-view villas above the island’s most sheltered harbours, minutes from Palma.
€7,000–9,700/m²Indicative asking price: Andratx €9,606–9,699/m²; Calvià, including Puerto Portals, about €7,037/m². idealista via API Baleares, Q1 2026.
Mallorca: Territory page →
Villas with tight licensing above the island’s southern coves and in its quieter interior.
€7,000–7,400/m²Indicative asking price: Sant Josep about €7,374–7,378/m²; Santa Eulària about €7,370/m². idealista via API Baleares, March 2026. Frontline villas sell well above.
Ibiza & Formentera: Territory page →
The quietest of the Balearics, with country estates and harbour houses in Mahón and Ciutadella.
No verified figureNo reliable per-square-metre figure was found.
Menorca: Territory page →
The city’s upper districts and the Modernista apartments of the Eixample.
€5,600–6,800/m²Indicative asking price: Pedralbes €5,671–5,766; la Bonanova up to €6,788; Eixample apartments €5,651. Engel & Völkers, Q3 2026.
Barcelona & Sitges: Territory page →
Pine-backed coves, stone villages and the seafront villas of S’Agaró.
No verified figureNo reliable per-square-metre figure was found.
Costa Brava: Territory page →The capital’s prime apartment district, popular with Latin American buyers.
€8,200–10,600/m²Indicative asking price: Salamanca €8,173; Recoletos €9,800; Castellana €10,259; Goya €10,608. Engel & Völkers, Q3 2026.
Homes and settings
Photographs to show the setting and style of homes; they are not listings for sale.
Developers
Branded villas and residences including Design Hills (Dolce&Gabbana), Armani Residences Marbella, Karl Lagerfeld Villas and EPIC Marbella (Fendi Casa). Visit website (opens the official site) ↗︎
The estate’s developer: the La Reserva district, with Village Verde apartments, The Collection and plots. Visit website (opens the official site) ↗︎
How to buy
Timeline. About 4 to 10 weeks for a cash purchase; longer with a mortgage.
Lawyers and lenders who serve foreign buyers can be listed on this page. To advertise, write to [email protected].
Taxes and fees
| Item | Rate or cost | Notes |
|---|---|---|
| Transfer tax (ITP), Andalusia | 7% flat | Marbella, Benahavís, Sotogrande. A cut to 6.75% for 2027 is announced, not yet law |
| Transfer tax (ITP), Balearics | 8% to €400,000; 9% to €600,000; 10% to €1m; 12% to €2m; 13% above | Mallorca, Ibiza, Menorca |
| Transfer tax (ITP), Catalonia | Progressive scale | Barcelona, Costa Brava. Confirm the current bands with your lawyer |
| New build | 10% VAT plus AJD stamp duty | Replaces ITP on a first sale by a developer |
| Agent | Normally paid by the seller |
| Item | Rate | Notes |
|---|---|---|
| IBI (annual local tax) | 0.4%–1.1% of cadastral value | Cadastral value is usually well below market value |
| Wealth tax, non-residents | 0.2%–3.5% | On Spanish assets above €700,000. Andalusia gives a full rebate; the Balearics and Catalonia charge |
| Solidarity tax on large fortunes | 1.7%–3.5% | On net assets above €3m, less wealth tax paid |
| Rental income, non-residents | 24% on gross rent (US owners); 19% on net rent (EU owners) | |
| Capital gains, non-residents | 19% | The buyer withholds 3% of the price for the tax office |
Residency through property
For every route across the Mediterranean, see residency and golden visas.
New applications ended on 3 April 2025, when Ley Orgánica 1/2025 came into force. Existing permits renew under the old rules; nothing has replaced the property route.
The usual route for wealthy Americans who will not work in Spain:
Founding Partners
Three places for Founding Partner Agencies and three for Developers in each Territory. Places are open.
Questions buyers ask
Yes. Americans buy freehold like any other foreign buyer. You need an NIE tax number and, in practice, a notary at completion.
No. The real estate route closed on 3 April 2025. The Non-Lucrative Visa is now the usual route for buyers who want to live in Spain without working.
No. A bill proposing it was tabled in May 2025 but never debated, and it lapsed when parliament was dissolved in October 2026.
Budget 9% to 15%, depending on the region and the price. Transfer tax is 7% in Andalusia and 8% to 13% in the Balearics.
Yes, on Spanish assets above €700,000, at 0.2% to 3.5%, depending on the region. Andalusia gives a full rebate, but the national solidarity tax can apply above €3m.
Where to stay while you look
Selected by TheMediterranean.com · The Golden Mile, Marbella
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Checked 31 October 2026. Rules and rates change; confirm with a qualified lawyer and tax adviser before you buy. TheMediterranean.com is not a real estate broker, agent or finder, and nothing here is legal, tax or immigration advice.
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