SafeBuy · International research
Compare Spain and Portugal using sourced housing benchmarks, buyer rules, purchase taxes and rental-market considerations.
| Market | Price benchmark | Gross yield | Annual price growth |
|---|---|---|---|
| Spain EU · EUR | €2,924/m² Spain — national advertised resale housing · August 2026 Within review window · checked 2026-09-07 | 5.45% Selected urban apartment listings: Madrid, Barcelona and nine other city/area markets · Q1 2026 Within review window · checked 2026-09-07 | 12.9% National residential property transactions · Q4 2025 versus Q4 2024 Within review window · checked 2026-09-07 |
| Portugal EU · EUR | €3,207/m² Portugal — national advertised housing · August 2026 Within review window · checked 2026-09-07 | 4.29% Selected urban apartment listings: Lisbon, Porto, Faro, Aveiro, Braga and Setubal · Q2 2026 Within review window · checked 2026-09-07 | 18.9% National residential property transactions · Q4 2025 versus Q4 2024 Within review window · checked 2026-09-07 |
SafeBuy interpretation
Both markets attract buyers looking for a home they may also rent out. Begin with the municipality and the use of the property: a long-term residential tenancy and a licensed holiday let need different operating plans.
A similar purchase price does not imply a similar cash requirement. Compare the applicable purchase-tax regime for your residence status and whether the property is new or resale, then add legal, registry and financing costs. Read the dated official rules below before using an old online calculator.
Separate the purchase decision from the immigration decision. Check current residence routes independently; neither a listing's marketing copy nor a historical investment programme proves current eligibility.
Foreign buyers can purchase Spanish property and need a NIE identification number for the transaction. Obtain the land-registry extract and check the owner's title, charges and the property's legal status. Non-EU nationals can require a military permit in designated defence zones; exemptions depend on the exact location.
Sourced rule · reviewed 2026-09-07
Used housing is subject to the relevant autonomous community's transfer tax; Madrid's general property-transfer rate is 6%. New housing normally attracts 10% VAT, with specific reduced-rate exceptions. Other duties, registration, notarial and professional costs may be additional. Neither rate is a nationwide all-in buying cost.
Sourced rule · reviewed 2026-09-07
Spain's consular guidance states that investor visas were abolished from 3 April 2025. A new property purchase should not be presented as a route to an investor visa. Existing applications or authorisations require review under their transitional rules.
Sourced rule · reviewed 2026-09-07
Barcelona's municipal housing publication records the plan not to renew its tourist-flat permissions, with a phase-out intended for November 2028. This is a city-specific policy. Before underwriting any Spanish holiday let, verify municipal and regional permissions and condominium rules for that address.
Sourced rule · reviewed 2026-09-07
UCI's published nonresident purchase guidance confirms that foreign and nonresident buyers can buy a home in Portugal, including through a remote process. Confirm the title and property documents, obtain the required tax identification and establish the buyer's tax residence before calculating taxes.
Sourced rule · reviewed 2026-09-07
CIMT Article 17(10) states a 7.5% rate for nonresident purchases of urban residential property, subject to its exceptions. These include previous Portuguese tax residence, becoming tax resident within the specified period, and qualifying capped-rent letting. Some relief requires an application and evidence. Check the effective provisions and your exact circumstances before signing.
Sourced rule · reviewed 2026-09-07
The tax authority lists purchase stamp duty of 0.8%, generally on the same higher-of-price-or-tax-value base as IMT. Mortgage borrowing also has stamp-duty treatment. Registration, legal work, mortgage expenses and any other applicable charges are separate, so adding the headline taxes does not produce a complete acquisition budget.
Sourced rule · reviewed 2026-09-07
Law 56/2023 stopped new applications under the former real-estate investment categories. Buying a home should not be marketed as automatically qualifying for Portugal's ARI or Golden Visa. Legacy permits and other qualifying investment or residence routes have separate rules.
Sourced rule · reviewed 2026-09-07
Portugal's government service requires registration before operating Alojamento Local and proof of liability insurance after registration. Municipal restrictions and the permitted use of the building can affect a particular property. Confirm the current local position before relying on tourist revenue.
Sourced rule · reviewed 2026-09-07
Your next step in Georgia
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