What are closing costs in Spain?

Typically 7.4–15.6% of the price on a $300,000 purchase.

Buying property in Spain as an American

Q: How is rental income taxed in Spain?

Non-resident income tax (IRNR): Non-EU/EEA residents pay 24% on gross rent with no deductions (a July 2025 court ruling allows refund claims for deductions). EU/EEA residents pay 19% on net. A vacant or owner-used home is taxed on imputed income: 24% of 1.1%–2% of cadastral value a year. File Modelo 210. US–Spain tax treaty in force; Spanish tax is generally creditable in the US.

Spain is open to US buyers and has strong tourist and long-term demand. As a non-EU resident you are taxed on gross rent with no deductions, which makes the after-tax picture tighter than headline yields suggest.

Data last verified on October 19, 2026 · AbroadYield research desk – public sources cited in each section

Key numbers

Gross rental yield

4.5–7.0%

Closing costs

7.4–15.6%

On a $300,000 purchase

Tax on rent (gross basis)

24%

Non-resident income tax (IRNR)

Entry prices from

$150,000

8–12 weeks to close

Can Americans buy?

Allowed

No restrictions on US buyers. Sales are formalised before a notary and registered at the Land Registry.

The property Golden Visa was abolished in 2025. The non-lucrative visa suits retirees with passive income.

Data last verified on October 19, 2026 · AbroadYield research desk – public sources cited in each section

Sources: Agencia Tributaria (Spain); US Department of State – country information

How rent is taxed

Non-EU/EEA residents pay 24% on gross rent with no deductions (a July 2025 court ruling allows refund claims for deductions). EU/EEA residents pay 19% on net. A vacant or owner-used home is taxed on imputed income: 24% of 1.1%–2% of cadastral value a year. File Modelo 210.

US–Spain tax treaty in force; Spanish tax is generally creditable in the US.

As a US taxpayer you also report the rent on Schedule E. Your free ranking estimates the combined effect for your state and income.

Data last verified on October 19, 2026 · AbroadYield research desk – public sources cited in each section

Sources: Agencia Tributaria (Spain); PwC Worldwide Tax Summaries; IRS – United States income tax treaties

Main risk

Non-EU owners pay 24% tax on gross rent with no expense deductions.

Regional tourist licences are required, and since April 2025 a new tourist let needs approval from 3/5 of the owners' community. The national registry was annulled by the Supreme Court in May 2026. Barcelona ends tourist licences by November 2028; Málaga, Alicante, Valencia and Madrid restrict new ones.

Data last verified on October 19, 2026 · AbroadYield research desk – public sources cited in each section

Sources: US Department of State – country information; Global Property Guide (yields, transaction costs)

Cities we cover

Madrid$7,224/m² · gross 4.4%
Barcelona$6,104/m² · gross 4.7%
Valencia$3,864/m² · gross 5.7%
Málaga$4,368/m² · gross 5.3%
Alicante$3,024/m² · gross 5.3%
Marbella$5,600/m² · gross 6.6%

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