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Non-resident deposit requirements for Spanish property: 30-40% for mortgage buyers, 100% for cash buyers. Worked examples for off-plan and resale.
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The deposit you need depends on whether you're buying with cash or financing with a mortgage, and whether the property is off-plan or resale.
| Scenario | Your capital needed | Bank finances |
|---|---|---|
| Cash purchase (off-plan €296K) | €336,563 (price + 13.7% costs) | - |
| Cash purchase (resale €320K) | €350,400 (price + 9.5% costs) | - |
| Mortgage purchase (off-plan €296K, 60% LTV) | ~€165,000 upfront | ~€178,000 at completion |
| Mortgage purchase (resale €320K, 60% LTV) | ~€162,000 upfront | ~€192,000 mortgage |
For a €296,010 Nylva apartment with 60% LTV mortgage:
| Payment | From you | From bank |
|---|---|---|
| Reservation (2%) | €6,000 | - |
| Private contract (28%) | €83,000 | - |
| Stage payment 1 (10%) | €30,000 | - |
| Total before completion | €119,000 | - |
| Completion balance (60%) | - | €177,606 (mortgage) |
| Taxes and fees (13.7%) | €40,563 | - |
| Your total capital | €159,563 | - |
For a €320,000 resale apartment:
| Payment | Amount |
|---|---|
| Purchase price | €320,000 |
| Transfer tax ITP (7%) | €22,400 |
| Notary and registry | €3,200 |
| Legal fees (1.5%) | €4,800 |
| Total | €350,400 |
In Spain, there are two distinct deposits:
Reservation deposit (señal): €6,000 to €10,000. Holds the property while your lawyer reviews the contract. Often refundable if you withdraw before signing the private contract.
Private contract deposit (arras): 10% to 30% of the purchase price. This is the binding commitment. If you withdraw after signing, you typically lose this deposit. If the seller withdraws, they must return double.
Spanish banks lend non-residents up to 60% to 70% LTV. This means you need at least 30% to 40% of the purchase price from your own funds, plus 9% to 14% for taxes and fees.
Minimum capital required with mortgage:
If your funds are in GBP, USD, AED, or SGD, exchange rate movements affect your real deposit amount. On a €160,000 deposit:
Lock in your rate with a forward contract through a specialist currency broker. BlancaReal can introduce trusted partners.
Book a consultation to discuss the deposit structure for your chosen property and financing approach.
Why local customers trust BlancaReal
Questions answered
With a mortgage: 30% to 40% of the purchase price plus 9% to 14% for taxes and fees. Cash: the full purchase price plus taxes and fees.
Yes. Spanish banks lend to non-residents up to 60% to 70% LTV. You need proof of income, tax returns, and a credit history from your home country.
The reservation deposit is typically €6,000 to €10,000. This holds the property while you arrange financing and complete due diligence.
Usually yes if you withdraw before signing the private purchase contract. After signing, deposits are typically non-refundable.
Taxes (VAT or ITP) are due at completion. Legal and notary fees are also due at completion. Budget for these as part of your total capital requirement.
Spanish banks don't lend the deposit portion. Your 30% to 40% must come from your own savings or alternative sources. Some buyers use equity from other properties.
If paying in a non-euro currency, exchange rate movements change your real cost. A 3% adverse movement on €160,000 costs an additional €4,800. Use a currency broker to lock rates.
Consider properties at a lower price point, or explore co-investment with a partner. BlancaReal can help you find properties that match your available capital.
Yes. Off-plan uses staged payments (smaller amounts over time). Resale requires the full deposit plus taxes at completion (one large payment).
Yes. We model the full capital requirement including deposit, taxes, fees, and first-year running costs so you know the exact amount before committing.
Still have questions?
Book a consultation or message us on WhatsApp. We give practical guidance, not sales pitches.