Buying property in Spain as a Canadian – is it hard?

According to recent reports, foreign investors bought over 130,000 properties in Spain in the 12 months to Q1 2025. The attraction is obvious. Spain has both bustling cities and relaxed countryside and beaches, with plenty of options for working expats, students, and retirees seeking a quiet life.

So – can Canadians buy property in Spain? Buying a home in Spain should be fairly stress free – but it’s important to note that you can no longer use your real estate investment to secure a visa. This guide explores your options and introduces Wise for making cross currency payments from CAD to EUR with low fees and the mid-market rate.

Can Canadians buy property in Spain?

Yes. Spain doesn’t have any rules preventing foreigners including non-EU nationals like Canadian citizens from buying property or land.

If you’re buying a place overseas it’s important to have a realistic budget, including costs for currency conversions and cross border payments. Using a provider like Wise can help limit exchange fees, while offering secure and speedy payments to Spain. More on that later.

How difficult is the process?

The process for buying a property in Spain isn’t unusually complicated, but as with large purchases anywhere there are a few steps, and you’ll need a legal advisor on hand to guide you through some of them.

Before you proceed to your purchase you’ll need to pick a lawyer who specialises in Spanish land law (urbanismo). You’ll also need a notary public who will prepare the contract of sale and issue the public deeds.

Your legal advisors can then talk you through the steps you’ll need to take to buy your property – and you can also check out the Guide to Buying Property in Spain from the Spanish Land Registry which has invaluable advice on the process.

Even when working with a lawyer, you’ll need to gather a few documents to make sure the purchase can go through smoothly. Here are some to know about in advance:

NIE (Número de Identidad de Extranjero)

The NIE (Número de Identidad de Extranjero) is a tax identifier you’ll need to buy a home, set up a bank account, pay taxes and communicate with government agencies. You can get it in person if you’re physically in Spain or use an agent to help with this step if you’re a non-resident. You can also get it from overseas Spanish consulates and embassies.

Land registry extract (nota simple)

Once you’ve decided on the property you want to buy in Spain you’ll need to complete due diligence checks alongside your lawyer. One task is to view the land registry extract which you can get from the Colegio de Registradores.

Here you need to check the seller is listed as the owner of the property in question, and that there are no outstanding debts on the property which may pass to you. English translations of the documents are available for a fee if you need them.

Other property paperwork

You’ll also need to check paperwork including the following:

• Previous owner’s annual property tax (IBI) showing nothing is owed
• The cadastral certificate which shows the boundaries of the land
• Licence of first occupancy or habitation certificate – needed to get utilities set up
• Valid energy efficiency certificate

Other documents may also be needed – check with your notary to make sure you have seen everything required to allow the purchase to go through smoothly.

Typical timelines

How long it takes to buy a property in Spain will depend a lot on the type of home you choose, as well as the situation the seller is in. You’ll usually find it takes several months to go from making an offer to closing on your new home and getting the keys.

Your notary can offer advice about the likely timelines based on your specific situation.

Transferring money to Spain for the purchase

Buying a home in a different currency will mean paying some costs for currency exchange and secure transfers. However, using a provider like Wise can help you bring down fees overall.

With Wise you get the mid-market exchange rate with low variable fees and automatic discounts when sending 35,000 CAD or more over the course of a month.

Set up a Wise account online or in app and make CAD – EUR transfers to the seller directly as needed. Or if you’re moving to Spain and have a bank there already you can also use Wise to move money there in advance, with the mid-market exchange rate and low fees, ready for closing on your new home.

What are the tax implications?

When you buy a property there are often tax considerations – plus you may need to pay taxes if you use your new place to generate an income or as an investment to sell later.

This guide is for information only. Get professional tax advice to navigate the tax implications of your new Spanish home both in Spain and in Canada.

In Spain

There are one off costs when you buy a property in Spain which can include:

• Property Transfer Tax (Impuesto sobre Transmisiones Patrimoniales – ITP) which is variable for resale properties, or Value Added Tax (VAT) for new build properties, set at 10%.
• Stamp duty – Actos Jurídicos Documentados (AJD) – set regionally and typically applies on new build properties
• Variable Notary, Land Registry and Legal Fees

There have also been high profile suggestions that the government may move to add taxes of up to 100% of property value for non-resident buyers. This has not happened at the time of research (April 2026).

Aside from the one off purchase taxes there are also ongoing costs you’ll need to build into your budget. As these are set by local municipalities they vary depending on where you live. One example is Impuesto sobre Bienes Inmueblesor IBI. This tax is decided using your home’s cadastral value which you can check online with the help of your lawyer, to calculate the tax you’ll need to pay.

In Canada

You may need to complete tax filings in Canada annually, or when you sell your Spanish property, depending on the situation and your tax residency.

If you have specified foreign property worth 100,000 CAD or more you need to complete and file T1135 Foreign Income Verification Statement annually with the Canada Revenue Agency (CRA). This is intended to prevent tax avoidance.

Here the rules are relatively complex – you may be exempt from reporting in some cases if the property you own is used for personal purposes only. However, you’ll need to get advice on this to ensure you understand your obligations. If you need to complete this step, you can file on the same date as your income tax return.

There are a few other situations where you might need to report to the CRA – if you rent out your property, for example. In this case you might have to report income as part of your normal tax filing if you’re a Canadian tax resident.

If you sell your property you may also need to report this for capital gains. Exactly what tax you may owe and where depends to an extent on your residency.

Local laws and regional variations

During the due diligence process on your new property you’ll also need to look carefully at the location of your property to check there are no restrictions for foreign buyers.

While foreigners are fairly free to buy properties in Spain you may not be entitled to buy a home anywhere near sensitive sites such as military bases or the coastline. If your property is in a designated rural area you’ll also need to check it has proper planning permissions before you buy – your lawyer can help.

What buying property gets you

Having a place in Spain may be a dream because you plan to live there full time, or use your new home for vacations. Or perhaps you’re thinking longer term and looking to make some income from rent and then sell it on later. Both are great reasons to buy a property in Spain.

It’s helpful to know that while previously owning a property may be one qualifying condition for getting a Spanish Golden Visa this is no longer the case. Having a property in Spain does not mean you can reside there visa free, although there are other routes to residency which may still suit Canadians instead.

What buying property does not get you

As we’ve seen, having a property in Canada does not get you a visa. At the time of research (April 2026) as a Canadian you can come to Spain for 90 days in any 180 day period. No additional visa is needed for this as long as you do not stay in any Schengen country for longer than the 90 days.

There’s also a proposal to bring in ETIAS (European Travel Information and Authorisation System) processes which may add in another step for Canadians coming to Europe, but this is not yet live at the time of research.

If you want to stay in Spain for longer than 90 days you’ll need a visa in advance.

For retirees, the Non-lucrative residence visa (NLV) has proved a popular replacement to the Golden Visa. Or there are also long stay visas to work or study if that’s what you plan to do on arrival.

To learn more about the visa options available and suitable for your needs, contact the Spanish Embassy or Consulate closest to your home.

Renting out your property: is it allowed?

If you’re buying a property in Spain as an investment you’ll need to do some thorough research in advance as rental rules are fairly strict. There are laws on renting out properties for the long term, and in many cases restrictions on letting your place for short term use, such as for holidays. Some local areas are even banning the use of properties as holiday lets outright, to try to maintain housing stock for local people.

Before renting out your new home it also helps to understand the rules around Spanish income tax. You’ll need to file for Spanish taxes, and report the profits you make from rent as income. Tax rates depend on whether you’re a tax resident or non-resident.

Spanish income tax for residents pay tax runs from 19% – 30% while non-residents whose home country is outside the EU are likely to pay 24% as a flat rate.

Buying land in Spain

Canadian citizens can buy land in Spain with no specific restrictions. The process works very similarly to buying a property.

Getting a mortgage: should I get one in Spain or Canada?

Spanish banks are used to dealing with foreign and non-resident buyers and can offer mortgages for foreigners in many cases. The deposit needed may be fairly high, but this can still be a good choice for many Canadians.

If you’d prefer to get a mortgage at home in Canada you may be able to do so through a large bank with an international presence like HSBC. However, many Canadian banks do not have mortgage provisions for overseas properties. Working with a broker experienced in overseas mortgages may help your chances if you’re thinking of following his route.

If you decide to take out a EUR mortgage locally in Spain, bear in mind that currency conversion costs from CAD – EUR may push up your monthly bills.

Using a currency service like Wise , which uses the mid-market exchange rate, can help you minimize the fees you pay.

The verdict: should you buy a house in Spain as a Canadian?

If you’re dreaming of a property in Spain as a place to live, work, study or retire, you’re not alone. Spain has large expat communities and is a very popular location for investors, thanks to the great climate, friendly people and relatively affordable prices.

If you’re thinking about investing in a new place abroad, use Wise to send money from CAD to EUR with low costs and secure, fast payments whenever you need them.

Pros	Cons
✅Visa options for people who want to work, study or retire ✅Large and established expat communities in many areas ✅No restrictions on foreign home ownership ✅Relatively low housing costs ✅Many English speaking agents and legal advisors available to support	❌Property prices may go down as well as up ❌Exchange rates can change your mortgage payments ❌High taxes on rental income if you’re a non resident

Useful resources

Real estate agents

Find licensed real estate agents here or check out these options:

• Mercers – English services from an agent with over 40 years in business
• TEKCE Real Estate – Global provider with a presence in Spain for expat needs
• Idealista – umbrella website with good search tools to find property in Spain

Main expat areas in Spain

• Madrid and Barcelona – for working families and people looking for city life
• Málaga and Marbella – for retirees and anyone looking for beachside living
• Seville and Granada – for people who’ve fallen in love with Spanish culture