Americans can buy property in Spain with no ownership restrictions. What makes the purchase different from a Spanish buyer’s is the paperwork on both sides of the Atlantic: Spain taxes non-resident owners at 24% on income from the property, and the US taxes its citizens on worldwide income, so you also file US reports such as the FBAR if your foreign accounts exceed $10,000 at any time. Spanish mortgages for US buyers are usually limited to 60% to 70% of the value. This guide covers what US buyers need to know, with figures in euros and dollars. The process itself is in our guide to buying property in Spain.
Can Americans buy property in Spain?
Yes. There is no nationality restriction on buying a home in Spain. You need an NIE, you sign before a notary and you pay the same purchase taxes as any buyer. The restrictions that exist apply to certain military or strategic zones and to some rural or protected land. Read Can foreigners buy property in Spain? and how to get an NIE. Buying a home does not give you residency in Spain, and the property golden visa closed after 3 April 2025.
How much does it cost an American buyer?
Purchase taxes and fees are the same for Americans and Spaniards. On a resale home of €250,000 (about $279,900), the extras are roughly 7% to 12% depending on the region, which is €17,500 to €30,000 (about $19,590 to $33,590). See Spain property buying costs for the breakdown and the calculator for your own price.
Conversions are approximate and use the European Central Bank reference rates of 14 October 2026 (€1 = £0.844 = $1.120). Rates move every day.
What Spanish taxes will you pay each year?
Spain taxes non-resident owners every year, even if they never rent the home. Because the United States is outside the EU and EEA, the general non-resident rate is 24%. It applies to an imputed income of 1.1% or 2% of the cadastral value when the home is not rented, to rental income and to gains on sale. Non-EU owners are often taxed on gross rent, without deducting expenses, though a 2025 National Court ruling may change that and was not settled in the sources we found. The mechanics and examples are in non-resident property tax in Spain.
What do you have to report in the United States?
The US taxes its citizens and residents on worldwide income, wherever they live, so owning Spanish property creates US reporting duties. Treat the following as the main ones and confirm them with a US tax professional.
FBAR (FinCEN Form 114)
You must file the Report of Foreign Bank and Financial Accounts if the combined value of your foreign accounts exceeded $10,000 at any time in the year. It is due on April 15 following the year reported, with an automatic extension to October 15. A Spanish bank account opened to pay for the home and its costs counts.
Form 8938 (FATCA)
Form 8938 has higher thresholds that depend on where you live and on your filing status. For US residents, the thresholds are $50,000 at year-end or $75,000 at any time for single filers, and $100,000 or $150,000 for joint filers. For taxpayers living abroad, they are $200,000 or $300,000 for single filers and $400,000 or $600,000 for joint filers. The Spanish property itself is generally not a reportable foreign financial asset, but your Spanish bank account and some related assets can be.
Rental income and the foreign tax credit
If you rent the home, the income is reported on your US return and also in Spain on Modelo 210. The US foreign tax credit lets you claim foreign income taxes you paid on income that the US also taxes, which reduces double taxation. The US-Spain tax treaty allocates taxing rights and provides relief, but it does not exempt a US citizen from US filing.
Currency effects when you sell
The US measures gains in dollars. A sale can show a taxable gain or loss in dollars even if the euro price is similar to the purchase price, because the exchange rate moved. Keep records of the dollar value of each payment on purchase and on sale, and ask a tax adviser how to calculate it.
Can an American get a Spanish mortgage?
Yes. Spanish banks lend to US citizens, but non-residents are typically offered 60% to 70% of the property value, compared with up to 80% for residents. Terms commonly end before the borrower turns 75, and lenders ask for tax returns, bank statements, proof of income and a credit report. US lenders rarely lend on Spanish property, so some buyers use home equity at home instead. A Spanish mortgage also creates a foreign account and liability to report.
How do you move dollars to Spain?
At the ECB rate of 14 October 2026, €250,000 is about $279,900. A bank spread of 2% to 4% over the mid-market rate would cost roughly $5,600 to $11,200, while a regulated currency specialist is typically under 1%, according to the guides we read. See how to transfer money to buy a property abroad for how to compare providers, document the source of funds and avoid payment fraud.
What is the checklist for US buyers?
- Apply for your NIE and hire an independent Spanish lawyer.
- Hire a US tax professional who understands FBAR, FATCA and the foreign tax credit.
- Budget for 7% to 12% extras plus yearly Spanish tax at 24%.
- Plan the mortgage, and expect to put down 30% to 40% as a non-resident.
- Compare ways to send dollars and lock the rate for staged payments.
- Keep records in both euros and dollars for the US return.
Can you use a US mortgage on a Spanish home?
Most US banks do not lend against property outside the United States, so Americans who need a loan often borrow in Spain from a Spanish bank or use savings or another source in the US. Spanish banks look at your income, your credit history and the valuation, and non-residents are typically offered a lower share of the value than residents. Ask early and make your deposit contract conditional on the loan.
How long can you stay in your Spanish home?
As a US citizen you can generally visit Spain for up to 90 days in any 180-day period without a visa, together with other Schengen countries. Owning a home does not extend that time or give you residency. Travel rules are changing, so check the US State Department and Spanish government pages before you travel, and see a Spanish immigration lawyer if you want to live in Spain.
What about a Spanish will and your US estate?
The US and Spain have different rules on inheritance and tax. A Spanish will for the property can save your family time and cost, and your US estate plan should be reviewed to make sure the two work together. Ask a US adviser and a Spanish lawyer, and mention the home when you update your plan.
What happens when you sell?
Spain taxes the gain when a non-resident sells, and the buyer holds back part of the price for the tax authority. You also report the sale in the United States, where a treaty and tax credits may reduce double taxation. Keep the purchase deed, the receipts for the taxes and costs, and the proof of any improvements, because you will need them to calculate the gain.
Frequently asked questions
Can a US citizen buy a house in Spain?
Yes, with no nationality restriction. Buying does not give you residency, so you need a visa for stays longer than the visa-free period.
Do I have to report my Spanish house to the IRS?
The property itself is generally not reported on Form 8938, but the rental income goes on your return, and you may need to file an FBAR and a Form 8938 for the Spanish bank accounts. Confirm with a US tax professional.
What Spanish tax rate applies to Americans?
The general non-resident income tax rate is 24% for most non-EU residents, compared with 19% for EU/EEA residents.
Can I get a mortgage in Spain as an American?
Yes. Expect 60% to 70% of the value, tax returns and bank statements, and a term that ends before you turn 75.
Does the US-Spain tax treaty remove double taxation?
It allocates taxing rights and gives relief, mainly through the US foreign tax credit, but it does not exempt US citizens from filing in the US.
Sources
Official sources (check these for the current rule):
- IRS: Report of Foreign Bank and Financial Accounts (FBAR)
- IRS: Summary of FATCA reporting for US taxpayers (Form 8938)
- IRS: Foreign tax credit
- Royal Legislative Decree 5/2004: Non-Resident Income Tax Act (BOE)
- Agencia Tributaria (Spanish tax agency): non-resident forms and taxes
- European Central Bank: euro reference rates
Also cross-checked against published guides, because regional tax rates are spread across many agencies:
- Costa Luz Lawyers: buying property in Spain from the US
- Tejada Solicitors (2025 National Court ruling on deductions)
Author: David Mateo. Professional review: this guide has not yet been reviewed by a licensed lawyer or tax adviser; when it is, the reviewer will be named at the top of the page.
This is general information, not legal or tax advice. Rules and rates change, and your situation may differ. Confirm the figures with the tax authority and a qualified lawyer or tax adviser before you commit. Facts last checked on 15 October 2026.
