June 24, 2025
Discover why the Spanish real estate market is becoming increasingly popular among Estonian buyers.Pille Adusoo
Spain as a high-end real estate destination
In recent years, Spain has established itself as one of the most sought-after real estate markets for international buyersespecially among those coming from Estonia. With a unique combination of climate, infrastructure, quality of life, and competitive prices, the Iberian country offers a value proposition that is hard to match in Europe.
Spain is the second most chosen European destination for foreign real estate investors, only behind France.Ministry of Transport, Mobility and Urban Agenda (2024).
This article is designed to delve into the motivations, advantages, and practical aspects that explain why more and more Estonian citizens are choosing to acquire high-end properties in Spain.
Profile of the Estonian Buyer
The Estonian buyer in Spain generally falls into one of the following categories:
- Technology sector professionals: many work remotely and value an environment with strong digital connectivity and a pleasant climate.
- Entrepreneurs and executives: interested in second residences with high asset value.
- Pensioners with solid wealth: seeking peace and quality of life in retirement.
- Real estate investors: seeking profitability through holiday rentals or asset appreciation.
This profile demands premium finishes, modern or restored historic design, accessibility, privacy, and amenities such as 24/7 security, swimming pool, spa, or social club.
Key factors driving this trend
🌞 Warm climate and healthy lifestyle
Spain enjoys more than 300 sunny days a year, which not only improves health and mood but also increases the use of holiday properties.
“Estonia records an average of just 60 sunny days a year, making Spain an unbeatable climate alternative.” – MeteoGroup Europe.
Moreover, the Mediterranean lifestyle involves less stress, a healthy diet (based on fish, olive oil, and fruits), and constant access to outdoor activities.
💶 Value for money and operating costs
Despite price increases in areas like Málaga or Valencia, Spain remains more affordable than Tallinn for comparable properties:
- Luxury apartment in Marbella: from €320,000
- Villa with pool on the Costa Blanca: from €500,000
- Seafront apartment in Alicante: from €180,000
The IBI (Property Tax) is much lower than in Northern Europe. The cost of services such as electricity, cleaning, maintenance, or security is also significantly lower.
✈️ Good international connections
Spain has international airports in Alicante, Málaga, Barcelona, Madrid, and Tenerife South, all with direct flights from Tallinn or Helsinki throughout the year. The AVE high-speed train and other railway infrastructures ensure fast and efficient regional connectivity.
🧾 Tax benefits for foreigners
- Attractive tax regimes such as Beckham Law for non-habitual residents.
- Double taxation agreement between Estonia and Spain.
- Tax exemption on certain types of income during the first years
🏥 High-quality public and private services
Spain has one of the best healthcare systems in the world (ranked #7 according to World Health Organization), both in public and private sectors, with easy and low-cost access for EU residents.
Most sought-after premium areas by Estonian buyers
Costa Blanca (Torrevieja, Alicante, Altea)
Mild climate, good value for money, and a well-established international community.
Costa del Sol (Marbella, Estepona, Benalmádena)
High density of luxury homes, exclusive services, international schools, golf courses, and marinas.
Tenerife Sur
Sun all year round, favorable tax system (7% IGIC), and a wide range of options for retirees.
Most valued property types
- Luxury villas with private pool and sea views
- Penthouse apartments with panoramic terraces
- Apartments in complexes with gym, spa, coworking spaces, and home automation
- Restored mansions and stately homes
A property is sought that serves not only as a home, but as a life experience.
Property purchase process for foreigners: practical guide
- Apply for a NIE (Foreigner Identification Number)
- Opening a Spanish bank account
- Signing of the reservation contract and earnest money agreement
- Legal review (due diligence)
- Public deed before a notary
- Registration in the Land Registry
- Tax management (ITP, AJD, VAT if applicable)
It is highly recommended to have trilingual legal, tax, and banking advisory services.
Investment outlook: why now?
- The Spanish market grew by 5.3% year-on-year in 2023, according to Idealista.
- 15.3% of purchases in 2023 were made by foreigners, according to the Spanish Land Registrars Association.
- The Euribor is stabilizing, and demand exceeds supply in coastal areas and major cities.
«Invertir ahora asegura una rentabilidad a medio plazo y una vivienda en una zona en constante valorización.»
Real cases and testimonials
Buying property in Spain is becoming a common decision among Estonians, both as an investment and for lifestyle reasons. The combination of climate, prices, tax benefits, and quality of life makes Spain an attractive option. If you are considering buying, now is an ideal time to do so.
We found a perfect villa in Jávea for our family. The international school, the climate, and the lifestyle have changed everything.Kristjan L., Tallinn
We invested in two apartments in Torrevieja that we now rent out on Airbnb. Steady income and easy maintenance.Maris R., Tartu
Conclusion: living or investing in Spain, a strategic decision
Spain offers a unique combination of profitability, legal security, quality of life, and long-term asset growth. For the discerning Estonian buyer, it represents a strategic opportunity both personally and financially.
Are you thinking about investing in Spain?
Contact us and receive personalized advice to find the perfect property, handle the procedures, and ensure a risk-free purchase.
Frequently Asked Questions about buying property in Spain for Estonians
Do I need to be a resident in Spain to buy a property?
No. Any Estonian citizen can purchase property in Spain without needing to be a resident. Only the NIE (Foreigner Identification Number) is required.
Can I get a mortgage as an Estonian citizen?
Yes. Many Spanish banks offer mortgages to non-residents, with financing of up to 60–70% of the appraised value. It is advisable to have prior savings to cover the down payment and taxes.
What taxes do I have to pay when buying a property?
Depending on the type of property:
- New property: 10% VAT + AJD (0.5%–1.5%)
- Resale property: ITP (6%–10% depending on the autonomous community)
How long does the purchase process take?
From the signing of the earnest money agreement to the public deed, the process can take between 4 and 8 weeks, depending on the efficiency of the documentation and banking procedures.
Can I rent out the property as an investment?
Yes. Rental regulations vary by region, but most allow for tourist or long-term rentals. Some municipalities require a prior license for vacation rentals.
What are the best areas for real estate investment in Spain?
Costa del Sol, Alicante, Tenerife, Madrid, and Barcelona are the most popular due to high demand, profitability, and consistent appreciation.
What services are included in a real estate advisory for foreigners?
Personalized search, NIE management, legal/tax advisory, negotiation with developers, verification of encumbrances, and notarial assistance.
What guarantees does the Spanish legal system offer to the buyer?
The purchase process is regulated and protected by law. The public deed is formalized before a notary and registered in the Land Registry, ensuring full legal security.
Can I obtain Spanish residency by buying a property?
Sí, mediante el programa de «Golden Visa» si la inversión inmobiliaria es igual o superior a 500.000 €. Esta permite residencia para el inversor y su familia.
Where can I find professional advice?
You can contact us directly through our contact form or visit our real estate services section.
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