Authored by the expert who managed and guided the team behind the Spain Property Pack
Yes, the analysis of Barcelona's property market is included in our pack
Buying an apartment in Barcelona requires substantial upfront cash beyond just the deposit.
Spanish banks demand 20% deposits from residents but 30-40% from foreign buyers, plus additional closing costs and taxes that add another 10-15% of the purchase price to your total cash requirements.
If you want to go deeper, you can check our pack of documents related to the real estate market in Spain, based on reliable facts and data, not opinions or rumors.
Foreign buyers need 40-55% of the purchase price in cash upfront before bank financing kicks in.
For a €400,000 Barcelona apartment, non-residents should budget €168,000-€208,000 in total cash.
| Buyer Type | Typical Deposit | Total Upfront Cash (including taxes/fees) |
|---|---|---|
| Spanish Resident | 20% | 32-35% of purchase price |
| Non-Resident (EU) | 30-35% | 40-50% of purchase price |
| Non-Resident (Non-EU) | 35-40% | 45-55% of purchase price |
| New-Build Purchase | 20-40% | 32-55% of purchase price |
| Resale Purchase | 20-40% | 32-55% of purchase price |
| Example: €400k Apartment (Resident) | €80,000 | €128,000 |
| Example: €400k Apartment (Non-Resident) | €120,000-€160,000 | €168,000-€208,000 |
How much does the average apartment in Barcelona cost right now?
The average apartment price in Barcelona currently sits at €4,700 per square meter as of September 2025.
Most 2-bedroom flats in mid-tier neighborhoods cost between €282,000 and €408,000, while prime districts like Sarrià-Sant Gervasi and Eixample command €6,000-€7,200 per square meter.
Affordable districts such as Nou Barris and Sant Andreu offer apartments at €2,815-€3,500 per square meter. A typical 1-bedroom apartment in central Barcelona ranges from €168,000-€280,000, depending on the exact location and building quality.
Prime 3-bedroom apartments in upscale areas typically cost €480,000-€650,000, making Barcelona one of the more expensive Spanish cities for property investment.
What percentage of the purchase price do Spanish banks typically require as a deposit for residents?
Spanish banks require Spanish residents to put down a minimum 20% deposit for mortgage financing.
This means banks will finance up to 80% of the property value (loan-to-value ratio of 80%) for Spanish citizens and legal residents. The 20% deposit requirement applies to both new-build and resale properties in Barcelona.
Some banks may offer slightly better terms for residents with excellent credit scores or substantial income, but 20% remains the standard minimum across major Spanish lending institutions.
This deposit percentage has remained stable in recent years as Spanish banking regulations maintain conservative lending practices following the 2008 financial crisis.
What percentage deposit do non-residents usually need to pay in Spain?
Non-residents typically need to pay 30-40% deposits when buying property in Barcelona through Spanish bank financing.
EU citizens often secure deposits closer to 30-35%, while non-EU buyers usually face 35-40% deposit requirements. Banks finance only 60-70% of the property value for foreign buyers, reflecting higher perceived risk and documentation complexity.
The exact deposit percentage depends on your nationality, income documentation, existing relationship with the bank, and overall financial profile.
Some premium banks may offer slightly better terms for high-net-worth non-residents, but the 30-40% range represents the market standard across Barcelona's mortgage lending landscape.
How much are closing costs and taxes on top of the deposit in Barcelona?
Closing costs and taxes add approximately 10-15% of the purchase price on top of your deposit in Barcelona.
| Cost Type | Percentage | Notes |
|---|---|---|
| Property Transfer Tax (ITP) | 10% | For resale properties only |
| VAT (IVA) | 10% | New-build properties only |
| Notary Fees | 1-2% | Based on property value |
| Registry Fees | 0.5-1% | Land registry registration |
| Legal Fees | 0.5-1% | €1,000-€3,000 typical range |
| Mortgage Arrangement Fee | 1-1.5% | Of loan amount, not property price |
| Survey and Valuation | 0.1-0.3% | Required by banks |
These costs are unavoidable and must be paid regardless of whether you're a resident or non-resident buyer.
What's the minimum down payment required if I take a mortgage with a Spanish bank?
The minimum down payment for residents is 20% of the property value when securing a Spanish bank mortgage.
Non-residents face minimum down payments of 30-40% depending on their citizenship and financial profile. Spanish banks will not finance more than 80% for residents or 70% for non-residents under current lending guidelines.
These percentages represent absolute minimums - many buyers put down more to secure better interest rates or reduce monthly mortgage payments.
Banks also require proof that you can cover the additional 10-15% in closing costs and taxes beyond the deposit amount.
It's something we develop in our Spain property pack.
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Do foreign buyers in Barcelona face higher deposit requirements than Spanish citizens?
Yes, foreign buyers face significantly higher deposit requirements compared to Spanish citizens when buying property in Barcelona.
Spanish residents need only 20% deposits while non-residents typically pay 30-40% deposits for the same properties. This difference stems from banks' risk assessment policies for foreign buyers who may have less stable income documentation or exit the country.
EU citizens often receive slightly more favorable treatment than non-EU buyers, with deposits closer to 30-35% versus 35-40% for non-EU nationals.
Banks also scrutinize foreign buyers' income sources more thoroughly and may require additional guarantees or insurance policies.
Some banks specialize in non-resident mortgages and may offer more competitive terms, but the deposit differential between residents and non-residents remains substantial across the Barcelona market.
Are there different deposit requirements for new-build properties versus resale properties?
Deposit requirements remain largely the same for new-build and resale properties in Barcelona - 20% for residents and 30-40% for non-residents.
However, new-build purchases involve different payment structures and tax implications. Buyers typically pay 10% deposits directly to developers at contract signing, with the remaining deposit paid at completion.
New-build properties are subject to 10% VAT instead of the 10% Property Transfer Tax applied to resale properties. Banks may be slightly more cautious with financing for off-plan developments or smaller developers.
Resale properties follow standard mortgage approval processes with established market values, while new-builds require bank valuations based on projected completion values.
How much should I budget for notary, registry, and legal fees when buying in Barcelona?
You should budget approximately 2-4% of the property purchase price for notary, registry, and legal fees combined.
- Notary fees: €800-€2,000 depending on property value and complexity
- Land registry fees: €400-€1,200 for standard residential properties
- Legal representation: €1,000-€3,000 or 0.5-1% of property value
- Property survey and valuation: €300-€800 required by banks
- Translation services: €200-€500 for non-Spanish speakers
Legal fees vary significantly based on the lawyer's experience and services provided. Some buyers use basic conveyancing services while others require comprehensive legal support including tax advice and residency guidance.
These professional fees are separate from taxes and represent unavoidable costs in the Barcelona property purchase process.
What's the usual deposit amount I need to pay when signing the private purchase contract (arras)?
The typical "arras" deposit when signing the private purchase contract in Barcelona is 10% of the agreed sale price.
This deposit is paid directly to the seller and becomes non-refundable if you withdraw from the purchase without legal justification. If the seller withdraws, they must return double the arras amount to the buyer.
The arras deposit is deducted from your final payment at completion, so it forms part of your overall cash requirement rather than an additional cost.
Some sellers may accept lower arras deposits of 5-6% in competitive markets, while others may demand 15% for premium properties or uncertain buyers.
This contract deposit timing means you need immediate access to 10% of the purchase price before securing final mortgage approval.
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How much is the Property Transfer Tax (ITP) or VAT for Barcelona, and does it affect my upfront cash needs?
The Property Transfer Tax (ITP) in Barcelona is 10% of the purchase price for resale properties, while new-build properties are subject to 10% VAT instead.
This tax significantly affects your upfront cash requirements as it must be paid at completion regardless of mortgage financing. Banks do not finance tax payments, meaning you need this 10% in cash beyond your deposit.
For a €400,000 apartment, you'll pay €40,000 in either ITP or VAT depending on whether it's resale or new-build. This amount cannot be included in your mortgage and represents pure cash requirement.
The tax is paid through your notary at completion and must be settled before you can officially own the property.
It's something we develop in our Spain property pack.
What's the minimum total cash I should expect to have available before the bank finances the rest?
Spanish residents should expect to have 32-35% of the purchase price available in cash before bank financing.
Non-residents need 40-55% of the purchase price in cash upfront, depending on their citizenship and the specific bank's requirements.
| Cash Requirement Component | Residents | Non-Residents |
|---|---|---|
| Minimum Deposit | 20% | 30-40% |
| Taxes (ITP/VAT) | 10% | 10% |
| Notary & Legal Fees | 2-3% | 2-3% |
| Arras Contract Deposit | 10% | 10% |
| Total Cash Needed | 32-35% | 40-55% |
| Example: €400k Property | €128,000-€140,000 | €160,000-€220,000 |
This cash must be readily available and verifiable to banks during the mortgage application process.
If I wanted to buy a €400,000 flat in Barcelona, how much money would I realistically need to have saved upfront?
For a €400,000 Barcelona apartment, residents need approximately €128,000-€140,000 saved upfront.
Non-residents should budget €168,000-€208,000 in total upfront cash for the same property. This calculation includes the deposit, taxes, fees, and contract payments required before mortgage financing covers the remainder.
- Resident breakdown: €80,000 deposit (20%) + €40,000 taxes + €8,000-€12,000 fees = €128,000-€132,000
- Non-resident breakdown: €120,000-€160,000 deposit (30-40%) + €40,000 taxes + €8,000-€12,000 fees = €168,000-€212,000
- Additional buffer: €5,000-€10,000 for unexpected costs and immediate property expenses
- Total safe budget: €135,000-€150,000 for residents, €175,000-€220,000 for non-residents
- Post-purchase costs: €2,000-€5,000 for furniture, utilities setup, and immediate maintenance
Conservative financial planning suggests having 10-15% additional cash beyond these calculated requirements to handle unexpected costs or market fluctuations.
It's something we develop in our Spain property pack.
Conclusion
This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.
Understanding Barcelona's property deposit requirements is crucial for successful property investment in Spain's second-largest city.
Non-resident buyers face significantly higher upfront costs compared to Spanish residents, requiring careful financial planning and substantial cash reserves before proceeding with any property purchase.
Sources
- InvestRopa - Average Apartment Price in Barcelona
- MonoEstate - Barcelona Apartment Costs 2025
- Idealista - Spanish Mortgage Deposit Requirements
- AdvisorSam - Spain Non-Resident Mortgages
- Idealista - Most Expensive Spanish Cities 2025
- My Spanish Residency - Getting a Mortgage in Spain
- My Spain Visa - Non-Resident Mortgages
- Renovate Manager - Barcelona Apartment Costs
- Coming to Spain - Mortgage Guide
- Expatica - Spanish Mortgage Guide