Spain stopped accepting new property-based golden visa applications on 3 April 2025, under Organic Law 1/2025.
A resale home in Spain carries a regional transfer tax (ITP) of about 6% to 10%.
A new home in Spain carries 10% VAT plus stamp duty of about 0.5% to 1.5%; in Romania VAT is 21%.
In Romania the buyer pays no transfer tax; the notary fee and 0.15% land register fee apply.
In Spain non-EU buyers can own land directly; in Romania they use a superficies right or a company.
Romania vs Spain property: the short answer
Spain ended its golden visa on 3 April 2025, so, as in Romania, buying a home no longer grants residency. The tax structures differ: in Spain a resale home carries a regional transfer tax (ITP) of about 6% to 10%, and a new home carries 10% VAT plus stamp duty (AJD); in Romania a new home carries 21% VAT, usually included in the price, and the buyer pays no transfer tax. Spain has no land restriction for non-EU buyers; Romania does.
Spain is one of Europe's best-known markets for foreign buyers, and many Israelis have holidayed there. Until recently it had one clear advantage over Romania: a property-linked golden visa. That advantage is gone. So the comparison today is simpler, and more honest: two EU countries, two tax systems, two very different kinds of market.
What changed in Spain in 2025
Organic Law 1/2025, published in the Spanish Official State Gazette on 3 January 2025, repealed the investor visa created by Law 14/2013. From 3 April 2025, Spain no longer accepts new golden visa applications based on property. Permits granted earlier can be renewed under the old rules.
A separate proposal announced in January 2025, a tax of up to 100% on property purchases by non-EU, non-resident buyers, was submitted as a draft but has not become law. Keep an eye on it if you are looking at Spain.
Romania. There is no golden visa either. A bill to create one was withdrawn from the Senate in December 2025. See our guide to residence permits in Romania.
Buying costs: the main difference
| Romania | Spain | |
|---|---|---|
| New home from a developer | 21% VAT, usually included in the quoted price | 10% VAT plus stamp duty (AJD), about 0.5% to 1.5% depending on the region |
| Resale home | No transfer tax for the buyer; the seller pays income tax on the sale | Transfer tax (ITP), about 6% to 10% depending on the region |
| Notary | Official fee scale | Notary fees by scale |
| Registration | Land register fee: 0.15% for individuals | Land registry fees |
| Tax ID | NIF, Romanian tax number | NIE, foreigner identity number |
Sources: Spanish Tax Agency (AEAT), Romanian Tax Agency (ANAF), ANCPI.
In Spain, resale is taxed at entry. In Romania, new-build is taxed at entry. That alone can change which property makes sense. For the Romanian side, see our guide to property buying costs and our guide to the NIF tax number.
Land: Spain is simpler
In Spain, non-EU buyers can own houses and land directly, without a special structure, outside a few restricted military zones.
In Romania, non-EU citizens cannot register land directly in their own name, so with a villa they choose a route such as a superficies right or a Romanian company. See our article on land ownership in Romania. On this point, Spain is ahead.
In Spain, resale is taxed at entry. In Romania, new-build is taxed at entry.
Annual costs
| Romania | Spain | |
|---|---|---|
| Local property tax | Tax on buildings and land, set by the local authority, under Law 239/2025 | IBI, municipal tax on the cadastral value |
| Non-resident owners | No extra tax for owning a home you do not let | Non-resident income tax on an imputed income from a home that is not let |
| Compulsory insurance | PAD disaster insurance | No equivalent compulsory home policy for owners without a mortgage |
Spain taxes non-resident owners on an imputed income even when the home is not let, which is a real annual line for holiday-home owners. For Romania, see our guide to the annual property tax and our guide to villa upkeep costs.
Two different markets
Spain is above all a coastal and holiday-home market, with Madrid and Barcelona as large and expensive cities, and pressure on local housing that drove the political decisions of 2025.
Romania's main residential market is Bucharest–Ilfov, a capital region where most buyers are local families. According to the National Institute of Statistics, about 17,300 new dwellings were completed there in 2025, about 29% of Romania's total. A villa north of Bucharest is a family home near a capital, not a beach flat. Decide which one you are looking for first.
Distance and time
A direct flight from Tel Aviv to Bucharest takes about 2 hours and 45 minutes, in the same time zone as Israel. Flights to Spain are longer, and Spain is one hour behind Israel for most of the year. If you plan to visit often, or to be there for a notary signing, it is worth counting. See our guide to flights from Israel to Bucharest.
Frequently asked questions
Does Spain still have a golden visa?
No. Spain stopped accepting new property-based golden visa applications on 3 April 2025, under Organic Law 1/2025. Romania has no golden visa either.
What taxes do you pay when buying property in Spain?
On a resale home, a regional transfer tax (ITP) of about 6% to 10%. On a new home, 10% VAT plus stamp duty (AJD) of about 0.5% to 1.5%, depending on the region. Notary and registry fees are added.
What taxes do you pay when buying property in Romania?
On a new home, 21% VAT, usually included in the price. The buyer pays no transfer tax, but pays the notary fee and the 0.15% land register fee.
Can non-EU citizens buy land in Spain and Romania?
In Spain, yes, directly. In Romania, non-EU citizens cannot register land directly in their own name and use a route such as a superficies right or a Romanian company.
Is Spain planning a 100% tax on foreign buyers?
A proposal for a tax of up to 100% on purchases by non-EU, non-resident buyers was announced in January 2025, but as of 2026 it has not become law.
The bottom line
Since April 2025, Spain and Romania stand on the same footing on residency: property does not buy a visa in either. Spain is simpler on land and taxes resale purchases heavily; Romania taxes new homes through VAT and charges the buyer no transfer tax.
If you are comparing a property in Spain with one in Romania, book a 30-minute call with me. We will compare the full cost on signing day, and the annual cost after it.
Moti Azulay, Compass Group Romania
Sources and data: Boletín Oficial del Estado (Organic Law 1/2025) · Spanish Tax Agency (AEAT) · Romanian legislation portal (Law 312/2005; Law 239/2025; Fiscal Code) · Romanian Tax Agency (ANAF) · ANCPI · National Institute of Statistics (INS).
This article is for general information only and is not legal or tax advice. Spanish transfer tax and stamp duty rates are set by each region and change; check them with a local lawyer before you buy.
Now you know more.
This article is general information, not legal, tax or financial advice. Consult local professionals before any transaction.
