Non-resident property owners in Spain are required to pay Non-Resident Income Tax (IRNR). Even if the property is not rented out, a tax is applied based on an estimated income. This is calculated as 2% of the cadastral value multiplied by 19% for EU citizens or 24% for non-EU residents and is paid annually. If the property is rented, tax is calculated based on actual rental income and submitted quarterly.
When comparing maintenance costs, resale properties built before 2018–2020 are generally more economical than newer developments or properties built within the last 5–7 years. The main difference lies in community fees. Modern residential complexes typically cost between €1,000 and €2,000 per year for maintenance, while older properties may range between €400 and €700 annually, making them more cost-efficient in the long term.
Legal support plays an important role in property ownership. Professional legal services usually include transferring utility contracts into the owner’s name, notifying the community of owners, registering your bank account with SUMA for automatic tax payments, and preparing and submitting IRNR declarations. If the property is rented, legal advisors can also manage rental tax filings.
The goal of a professional real estate agency is to support clients at every stage, from property selection to full legal assistance and ongoing property management. For expert guidance, full-service support, and access to the best opportunities on Costa Blanca, contact Capital Union Investment today.
