For an investor from Eastern Europe, purchasing property in Spain represents more than a financial step — it is a strategic decision, an investment in security, stability, and quality of life. Spain offers a clear legal framework for foreign buyers, a solid banking system, and a mature real estate market, making it one of the most attractive destinations for residential investments in Europe. However, for the process to proceed without complications, it is essential to understand the stages and collaborate with experienced local professionals. Mihail Real Estate provides complete assistance from the first viewing to property registration in the land registry, offering clients the comfort of a secure and efficient transaction.
The first step for any foreign buyer is obtaining the NIE (Número de Identificación de Extranjero). This is the personal tax code that allows any transaction to be carried out in Spain — whether purchasing property, opening a bank account, or signing a contract. Obtaining it is a formality, but requires time and complete documentation. The Mihail Real Estate team handles this process entirely, assisting the client in obtaining the NIE at no additional cost, through direct collaborations with local authorities and authorized translators.
Once the NIE is obtained, the next step is opening a bank account in Spain. This account is necessary for managing payments to the developer, transferring the advance payment, and subsequently paying taxes, duties, and utility bills. Mihail Real Estate offers its clients direct access to trusted banking partners, facilitating account opening without unnecessary travel and with minimal documentation.
The actual purchasing process begins with selecting the right property. Depending on the investment purpose — vacation home, rental investment, or portfolio acquisition — Mihail Real Estate advisors present options adapted to the client’s budget, preferences, and objectives. Each property is technically and legally verified before being recommended, to eliminate any risk of litigation, hidden debts, or construction defects.
After choosing the property, the reservation contract (“Contrato de Reserva”) is signed, a document that guarantees the blocking of the offer for a determined period, in exchange for an advance payment (usually between 3,000 and 6,000 euros). During this period, Mihail Real Estate’s collaborating lawyers verify all documents — from the property certificate to the construction history — to confirm that the property is free of encumbrances.
The next stage is signing the sale-purchase contract (“Escritura de Compraventa”) at the notary. This is the final phase of the transaction and takes place in the presence of both parties, with authorized translation if necessary. The final payment is made through the Spanish bank account, and the notarial deed becomes the property title. After signing, Mihail Real Estate manages the property registration in the Land Registry, ensuring that the property right is protected and officially recognized.
For non-resident buyers, an often overlooked aspect is post-acquisition administration. The moment you become an owner, the part that ensures long-term profitability and comfort begins. The Mihail Real Estate team offers complete administration services: utility management, annual tax payments, maintenance, renovations, and also property rental if it is acquired as an investment. The owner receives clear monthly reports, which include generated income, expenses, and net profit, without needing to be present in Spain.
Another security element is personalized tax consultancy. Spain has a favorable tax system for foreign owners, but meeting deadlines and completing documents correctly is essential to avoid penalties. Mihail Real Estate collaborates with specialized accountants and lawyers who handle all procedures on behalf of the client, ensuring that all activity is conducted in accordance with Spanish and European legislation.
Beyond the administrative part, the Mihail Real Estate team also handles investment optimization. Owners who wish to obtain passive income can benefit from promotion, rental, and complete property management services. Through partnerships developed with major international platforms and through the presence of a permanent local team, rental becomes a constant source of income, with net returns between five and eight percent annually, depending on the area and type of property.
For buyers from outside Spain, the greatest advantage of collaborating with Mihail Real Estate is simplicity. All stages — from obtaining the NIE to receiving the keys — are managed with professionalism, efficiency, and discretion. Each transaction is documented, each step is explained, and the client is permanently informed, but not required to intervene directly in technical processes.
Purchasing property in Spain may seem complex, but with an experienced team it becomes a pleasant, secure, and predictable experience. Mihail Real Estate offers not just services, but confidence — a bridge between the dream of a Mediterranean home and the reality of a solid investment. For non-resident citizens who wish to combine comfort with profitability, this is the safest path.
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