Spain’s most recent nationwide census in 2019 revealed that Javea’s resident population of 27,604 includes 47.5% foreign-born individuals, with many British, American, Canadian, and EU citizens among them. However, the number of foreigners in Javea extends far beyond its year-round residents.
The 2011 census recorded a total of 25,274 properties in Javea, with up to 51.5% being second homes or vacation rentals. It’s no surprise that many visitors who fall in love with Javea ask, “Can foreigners buy property here?” The answer is a resounding yes! Below, we’ll guide you through the process of buying property in Javea, the costs involved, and residency requirements for British, American, Canadian, and EU citizens.
If you don’t currently live in Spain, here are five crucial factors to consider:
By addressing these considerations upfront, you can avoid unpleasant surprises and make an informed decision.
Step 1: Obtain a NIE
The only legal requirement for foreigners to buy property in Javea is a NIE (Número de Identidad de Extranjero). This unique identification number is required for all economic transactions in Spain.
Alternatively, you can apply at the Spanish consulate in your home country, though this process may take longer.
Step 2: Open a Spanish Bank Account
Once you have your NIE, open a Spanish bank account. This simplifies transactions and avoids delays due to anti-money laundering checks. If you’re applying for a mortgage, Spanish banks will assess your financial documents, including proof of income, credit history, and employment status.
Step 3: Find Your Dream Property
Javea offers a variety of property types:
Explore different neighborhoods, from the historic Old Town to the luxurious southern hills, where properties overlook the Mediterranean.
Step 4: Sign a Reservation Agreement
Once you’ve found a property, sign a reservation agreement to take it off the market. This requires a deposit of 5-10% of the purchase price, held in escrow. Ensure all terms are clear in the contract to avoid losing your deposit.
Step 5: Conduct Checks and Secure Funds
Hire a lawyer to perform due diligence. In Spain, debts are tied to the property, not the owner, so it’s essential to verify there are no hidden liabilities. Prepare your funds or finalize your mortgage during this phase.
Step 6: Sign the Purchase Contract
The Contrato de Compraventa is signed before a notary. The notary ensures the necessary documents are in order but does not verify their validity. Documents include:
Step 7: Register Ownership and Update Utilities
After signing the contract, register the property in your name at the Land Registry (Registro de la Propiedad). Update utility services and register on the municipal padrón to become an official part of Javea’s community.
For non-residents, additional costs include higher mortgage fees and income taxes on rental income or imputed income (for empty properties).
Non-EU citizens cannot stay in Spain for more than 90 days within a 180-day period without a visa. Residency options include:
Can foreigners buy property in Javea?
Yes, with a NIE. A Spanish bank account and legal support are recommended.
Is it a good idea to buy property in Javea?
Yes. Javea’s property market is thriving, with opportunities for both luxury and affordable investments.
Can I live permanently in Javea if I buy a property?
Yes, but non-EU citizens need a visa or residency permit to stay beyond 90 days.
What documents do I need?
A NIE and passport are essential. The seller must provide additional property documents during the purchase process.
Buying property in Javea can be a rewarding investment, offering a vibrant community, beautiful surroundings, and the chance to own a piece of paradise. With careful preparation, your dream home in Javea is within reach.
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