Section
Spain property investment for foreigners
Quick answer
Earning from a Spanish property comes down to four things: long lets, tourist lets, yields and the strategy behind them. The rules are strict and changing, tax on rent is charged on the gross amount for most non-residents, and we print no yields or forecasts because we found no official data.
Applies toBuyers who want a Spanish property to earn income, or who might let it part of the year.
On this page: 9 sections
§ 1Lets, yields and strategy
Many foreign buyers want a Spanish home to pay for itself. The ways of doing it are different in law, in tax and in effort. The main ones are below, as general information. We take no commission from any agent, platform or adviser and name none.
§ 2Strategy first
The chapter on investment strategy explains how to think about the purchase as an investment, the costs and taxes that reduce returns, and the risks. Its pages on risks and on the choice between a second home and an investment help you decide what the property must do.
§ 3Long lets
The chapter on buying to let explains the urban lettings act, the minimum term, tenant withdrawal, selling a let home, tax on rent and letting agents. It reflects the text updated in October 2026 and notes a change from November that depends on validation.
§ 4Yields
The chapter on rental yields explains how to calculate a gross and a net yield, how tax changes the result for a non-resident, and why we print no yields by city. It shows how to build your own figure from real quotes.
§ 5Holiday lets
The chapter on holiday rentals explains the three layers of tourist letting: the regional authorisation and registration, and the community of owners’ express approval; the national registry number was annulled in 2026. It has pages for the Valencian Community, Andalusia, Catalonia, the Balearic Islands, the Canary Islands and Madrid.
§ 6What we do not know
We print no yields, price forecasts or returns. We read official texts for the pages above, and each says what was not read. Rules on rents, tourist lets and taxes are changing, and a decree-law published in October 2026 is awaiting validation.
§ 7Tax
A non-resident pays tax on rent and on imputed income, as the costs section explains. A decree-law of October 2026 is reported to change some of these from 2027. We have not read its operative text.
§ 8Next
Read the strategy chapter, then the chapter for the way you plan to let. Ask your lawyer to check the specific home before you pay a deposit.
§ 9Chapters in this section
The rules on investment strategy explains how to think about buying Spanish property as an investment and an overview of buy to let explains buying a Spanish home to let long term.
Rental yields in detail explains how to work out a rental yield honestly and holiday rentals step by step explains the licences, the registration rules and the community’s approval for tourist lets.
FAQRelated questions
Where do I start?
Decide whether the home is mainly for you or for income, then read the strategy chapter. After that, pick the chapter on long lets or on holiday lets, and use the yield chapter on test the numbers.
Do you recommend a way to invest?
No. We explain the rules, the tax and the risks of each approach, and we name no agent, platform or adviser. Ask a lawyer and a tax adviser to check the specific property and plan.
Are the rules stable?
No. A decree-law of October 2026 on housing is in force and awaiting validation, and regions have tightened tourist rules. Each page says what we read and when, and what we could not verify.
Sources
- Boletín Oficial del Estado: Ley 29/1994 de Arrendamientos Urbanos (consolidated text updated 7 October 2026) (official source, opens in a new window), Arts. 3, 5, 9, 10, 11 and 14 read; arts. 17 onwards not read; shows RDL 28/2026 change from 15 November 2026Last checked 18 October 2026
- Agencia Tributaria: Rental income of non-residents: specific questions on property (official source, opens in a new window), Rates, gross base, deductible expenses, imputed income for unlet monthsLast checked 17 October 2026
- Boletín Oficial del Estado: Real Decreto-ley 29/2026, de 6 de octubre, por el que se adoptan medidas urgentes para la protección de la función social de la vivienda y la ampliación de la oferta de vivienda asequible (BOE-A-2026-20823) (official source, opens in a new window), Arts. 1 to 10 and the fifth and sixth final provisions read in the gazette page; end of the final provisions not readLast checked 26 October 2026
General information only. This is not legal, tax or financial advice. Check your own situation with a qualified adviser.