Imagine you want to buy an apartment in Madrid, but you live abroad. You don’t have the time or flexibility to travel to Spain several times to visit properties, handle paperwork and complete the purchase.
The good news? Buying an apartment in Madrid from abroad is entirely possible, and you may only need to travel to Spain once.
Over the years, we’ve helped international clients purchase homes and investment properties in Madrid while managing almost the entire process remotely.
Although opening a Spanish bank account generally requires an in-person visit, you can use that same trip to sign a power of attorney (POA), allowing someone you trust to handle most of the remaining formalities on your behalf.
In this 2026 guide, I’ll explain how to buy property in Madrid remotely, from searching for apartments and arranging a mortgage to completing the legal checks and signing the purchase deeds, while keeping travel to a minimum.
How to look for an apartment from abroad
Nowadays, searching for an apartment in Madrid from abroad is easier than ever. Property portals like Idealista and Fotocasa allow you to browse thousands of listings, many with professional photographs, floor plans and even virtual tours. It’s a great place to start, but it doesn’t really replace seeing a property in person.
This is where having a local buyer’s agent can make all the difference.
As buyer’s agents in Madrid, we search the entire market on behalf of our clients, including properties advertised by estate agencies, private sellers and even off-market opportunities. We shortlist the most promising options and visit them in person, so our clients don’t have to travel to Madrid every time an interesting property comes up.
During our visits, we prepare detailed reports and video walkthroughs, highlighting both the pros and cons of each property. Unlike the polished photographs and videos in property listings, our walkthroughs show you the apartment as it really is, including the less attractive details that sellers might prefer not to highlight.
We can also arrange live video calls via WhatsApp or FaceTime directly from the property, allowing you to look around, ask questions and get a much better feel for the space.
Of course, nothing quite replaces seeing and experiencing a property in person. But with detailed videos, honest feedback and someone you trust visiting on your behalf, buying an apartment in Madrid from abroad becomes much more manageable.
How to get a mortgage from a Spanish bank from abroad
Even if you have enough funds to buy your apartment outright, you might still want to consider getting a mortgage. With interest rates currently quite attractive, financing part of your purchase could make sense if you’d rather keep your money invested elsewhere.
Foreigners and non-residents can get mortgages from Spanish banks, although the conditions are generally stricter than for residents.
You can approach banks directly, but I strongly recommend working with an experienced mortgage broker. Apart from knowing which banks are most likely to accept your profile and negotiating competitive conditions, a good broker knows how to present your financial documentation in the most favourable way. Sometimes, knowing which information to highlight and how to structure your application can be just as important as having a solid financial profile.
Some things to bear in mind:
- Financing: Non-residents can typically borrow up to 70% of the property’s value, meaning you’ll need funds for the remaining 30%, plus taxes and purchasing costs.
- Interest rates: As of October 2026, the latest mortgage offers we’ve seen have been around 2.5%–2.9%, including reductions for taking out additional products such as insurance. Conditions vary depending on the bank and your profile.
- Mortgage term: Some banks limit non-resident mortgages to 20–25 years.
- Bank requirements: Each lender has its own criteria regarding your country of residence, income, currency and financial situation, and these can change over time.
Initial mortgage application process:
The bank or mortgage broker will typically ask for identification, proof of income and savings, tax returns, details of outstanding debts and sometimes a credit report.
You don’t need to have chosen a property yet. In fact, I recommend checking your mortgage eligibility before making any financial commitment. The bank can assess your borrowing capacity based on your financial situation and an indicative property budget.
This initial assessment can take anywhere from a few days to several weeks. A positive response will give you a clearer idea of your budget, but remember that preliminary approval isn’t a guarantee of financing. Final approval will depend on further checks, including the valuation of the property you eventually choose.
Finalising your mortgage:
Let’s skip ahead a few steps. You’ve found your apartment in Madrid, agreed on a price with the seller and signed an arras contract.
Now it’s time to finalise your mortgage, and this is where buying from abroad gets a little trickier.
You’ll generally need to open a Spanish bank account, and in our experience, banks now require non-resident buyers to visit a branch in person for identification and compliance checks.
This is why I recommend planning at least one trip to Madrid early in the process. During that visit, you can open your bank account and sign a power of attorney (POA), allowing your representative to handle the remaining formalities, including the mortgage and purchase signing, on your behalf.
Let’s look at how a power of attorney works.
Power of attorney – your secret weapon
A power of attorney (POA, or poder notarial in Spanish) is a legal document that allows someone you trust to act and sign documents on your behalf. It’s an incredibly useful tool when buying property in Madrid from abroad, as it means you won’t need to travel to Spain for every step of the purchase.
The powers you grant will depend on your needs, but for a remote property purchase, they should typically include:
- Purchasing the property and signing the purchase deeds.
- Applying for and signing a mortgage, if needed.
- Signing the mortgage documentation and completing the mandatory notarial transparency procedure (acta de transparencia).
- Signing other necessary contracts and documents.
- Managing bank accounts, where permitted by the bank.
- Optionally, handling utility contracts and other post-purchase formalities.
It’s essential to have the POA drafted correctly, particularly if you’re applying for a mortgage, as the bank and notary will need to accept the powers granted.
You can sign a POA during your visit to Madrid, ideally at the same time as opening your Spanish bank account. Alternatively, you can arrange one through a Spanish consulate abroad or, depending on the country, through a local notary with the necessary apostille or legalisation and translation.
Finalising the mortgage with a power of attorney
Once you’ve chosen your property and the bank has approved the mortgage, it will arrange an official valuation and issue the formal mortgage documentation.
The two key documents are the FEIN (Ficha Europea de Información Normalizada), which contains the bank’s binding mortgage offer, and the FIAE (Ficha de Advertencias Estandarizadas), which highlights important conditions and potential risks.
Under Spanish mortgage law, these documents must generally be provided at least 10 calendar days before signing the mortgage deeds, although longer periods may apply in some regions.
Before signing, you must also complete the mandatory acta de transparencia with a notary, who verifies that the mortgage conditions have been properly explained and understood. This can be handled by your representative if the POA includes the necessary powers.
Finally, your representative can sign both the mortgage and purchase deeds on your behalf at the notary’s office.
And that’s it! With a properly arranged power of attorney, you can complete your property purchase in Madrid without having to return to Spain for the signing.
How to get a NIE from abroad
Another essential requirement when buying property in Madrid as a foreigner is obtaining a NIE (Número de Identidad de Extranjero), your Spanish foreigner identification number.
You can apply for a NIE at a Spanish consulate in your home country, in person during your visit to Spain, or through a representative with a suitable power of attorney.
Processing times vary, so I recommend arranging your NIE as early as possible, ideally before you find the property you want to buy.
How to sign the deposit contract and purchase deeds from abroad
Once you’ve found your apartment, agreed on a price, obtained your NIE and secured your financing, it’s time to finalise the purchase!
The deposit contract (usually an arras contract) can generally be signed remotely, and the deposit can be transferred from abroad. The final purchase deeds, however, must be signed in person before a Spanish notary. This is where your power of attorney comes in: your representative can sign on your behalf, so you don’t need to return to Spain.
We always review the draft deeds with our clients before the signing, making sure everything is understood and agreed upon in advance. This is particularly important when buying remotely, as you won’t be physically present to resolve any last-minute surprises.
Whenever possible, we also arrange a video call from the notary’s office, allowing our clients to follow the signing in real time.
After the signing of the deeds
Congratulations, you’re now the owner of an apartment in Madrid!
There are still a few formalities to take care of, including paying the applicable taxes, registering the purchase with the Property Registry and transferring the utility contracts into your name.
Most of these can be handled remotely by your representative and the professionals involved in the transaction. We can also provide additional post-purchase assistance if you’re planning to renovate your new property.
And voilà! You’ve successfully bought an apartment in Madrid from abroad, with just one trip to Spain to open your bank account and arrange your power of attorney.
