MAD59183

€1,642,500.00

Arturo Soria, Madrid, Spain

3 bed
2 bath
198 m²
Apartment

About this place

Excellent new build penthouse with 3 bedrooms and 66 m² terrace for sale in a development with communal pool in Arturo Soria, Madrid.

Buying property in Spain

Full guide →

Spain welcomes foreign buyers with no nationality restrictions. The buyer needs an NIE (Número de Identidad de Extranjero) before completion, and most buyers open a Spanish bank account to handle the deposit and ongoing charges. An independent lawyer (abogado) is strongly recommended — the notario only checks the deed, not the wider title.

The buying process

1
Get an NIE
Apply for the foreign-resident tax number at a Spanish consulate, police station, or via a representative with power of attorney.
2
Open a Spanish bank account
Needed for the deposit, taxes, mortgage payments, and utilities.
3
Engage an independent lawyer
Lawyer runs title, debts, planning, and community-of-owners checks — the notario will not.
4
Reservation contract
Small deposit (€3,000–€10,000) takes the property off the market while due diligence runs.
5
Sign the contrato de arras
Private purchase contract with a 10% deposit. If the buyer pulls out they lose it; if the seller pulls out they pay double.
6
Sign the escritura pública
Final public deed signed before a notario; balance and taxes paid; keys handed over.
7
Register the property
Lawyer registers the deed at the Registro de la Propiedad and arranges utility and IBI transfers.

Typical fees & taxes

ITP (resale transfer tax): 6–10% depending on region (e.g. 10% Catalonia, 7% Madrid)
IVA + AJD (new build): 10% VAT + 0.5–1.5% stamp duty
Notario & Registro: €1,000–€2,500 typical
Legal fees: 1–1.5% of price + VAT
Annual IBI (council tax): 0.4–1.1% of cadastral value per year
Plusvalía municipal: Paid by seller, but check the contract — sometimes negotiated

Timeline

Reservation to contrato de arras: 2–4 weeks
Arras to escritura: 4–8 weeks
Total typical timeline: 2–3 months

What you'll need

NIE (foreign tax number)
Spanish bank account(optional)
Not legally required but standard practice
Passport / ID
Proof of funds / mortgage offer

Spain ended its Golden Visa property route in April 2025. Non-resident mortgages are widely available, typically 60–70% LTV. Non-resident sellers face a 3% withholding from the sale price (retención), claimable against capital gains tax. Always check community-of-owners (comunidad) debts and outstanding IBI before completion — they transfer with the property.

General guidance only — confirm specifics with a qualified local lawyer or tax adviser. Reference