AN Real Estate — 2026 Investment Guide
How to buy property in Miami from Spain
Miami has attracted Spanish investors for years: a dollar-denominated market, no Florida state income tax, strong rental yields and an urban quality of life few cities in the world match. If you're considering buying an apartment in Miami from Spain, the good news is the process is more accessible than it looks. This guide covers the steps, the real costs and what every Spanish buyer should know before deciding in 2026. Full service managed from Barcelona — luxury real estate agency with cross-border Spain→US operations.
Why Miami, and why Brickell
Brickell is Miami's financial district — the Manhattan of South Florida. Over the past decade it has undergone a radical urban transformation: new-construction residential towers, top-tier restaurants, coworking spaces and a density of services that make it the highest rental-demand neighbourhood in the whole state of Florida.
For the Spanish investor, Brickell offers the ideal combination: gross yields of 5-7%, strong long-term value appreciation, and a market with solid, sustained international demand. Florida charges no state income tax, which directly increases the net return on any real estate investment in the area. Active project: House of Wellness, Brickell — new construction with a wellness programme, from $419,000.
The buying process, step by step
Buying new construction in Miami from Spain unfolds in four stages:
- Reservation and contract — The contract is signed with an initial payment of 10% of the purchase price. The amount can be wired from Spain in euros (the developer handles the conversion to dollars). You don't need to be physically present.
- Pre-construction payments — Three further payments of 5% each, spread two months apart: at months 2, 4 and 6 after signing. This totals 25% of the price before construction begins.
- Construction start — A 15% payment when the developer breaks ground.
- Closing — The remaining 60% at key handover (expected Q4 2029). Our financial advisors help you structure this payment — a local US mortgage or financing from Spain. Closing can be done remotely via an apostilled power of attorney, with no need to travel to Miami.
Payment schedule — House of Wellness:
10% on contract · 5% (+2 months) · 5% (+4 months) · 5% (+6 months) · 15% at construction start · 60% at closing
Additional costs to factor in
In Florida, buyer closing costs run approximately 1.5-2% of the purchase price and include title insurance, local attorney fees and recording costs. There is no VAT on new-construction sales as in Spain — instead a Documentary Stamp Tax applies ($0.35 per $100 of price), which the seller typically covers.
Annual property tax varies by assessed value, but usually sits between 1 and 1.5% of the property's market value. For a $450,000 unit, that's between $4,500 and $6,750 per year.
Taxation for the Spanish buyer
As a Spanish tax resident acquiring property in the United States, you must declare it on Modelo 720 (foreign asset declaration) if its value exceeds €50,000. Rental income is subject to US non-resident income tax (requires obtaining an ITIN) and must also be declared in Spain.
The Spain-US Double Taxation Treaty prevents being taxed twice: tax paid in the US is deductible on your Spanish return. We recommend consulting an advisor specialised in both jurisdictions before finalising the purchase.
Financing from Spain
40% of the price is paid in stages during construction (10% at signing + three 5% instalments + 15% at construction start), letting you plan the investment without needing the full capital from day one. The remaining 60% is due at closing and is the portion that can typically be financed.
AN Real Estate works with financial advisors specialised in international transactions who help you structure financing for the 60% due at closing. We assess your financial profile and connect you with the most suitable options: a local US mortgage with lenders that work with non-resident buyers (typical LTV 60-70%), or solutions from Spain against existing assets. The goal is to make sure closing is never a barrier and that you can complete the deal in the way that's most efficient for your profile.
Get in touch before reserving — we'll help you plan the payment flows and understand exactly what you need available at each stage. If you'd like to visit the project in person, the sales gallery is at 1200 Brickell Ave, Suite 1800, Miami FL 33131.
What does buying in Miami from Spain really cost?
For a $500,000 unit at House of Wellness: first payment at signing ≈ $50,000 (10%) · three payments of $25,000 each (5% · 5% · 5%) over the following 6 months · $75,000 at construction start (15%) · $300,000 at closing (60%, financeable). Closing costs ≈ $8,000-10,000. Annual property tax ≈ $5,000-7,500. No sales VAT.
Gross rental yield in Brickell sits between 5 and 7% annually.
What sets House of Wellness apart?
It's not just another new-construction building — it's the first residential tower in Brickell built around the Integrated Wellness Method: 5 pillars of wellbeing (physical, nutritional, emotional, intellectual and social) led by an on-site Lifestyle Director, with an exclusive app, a personalised assessment on move-in, and access to health, spa, nutrition and training experts.
Discover the wellness programme →Frequently asked questions
Can a Spanish citizen buy property in Miami without US residency?
Yes. The United States places no restrictions on foreigners buying real estate. You don't need a visa, residency or a green card to own property. You only need a Spanish passport, an ITIN (Individual Taxpayer Identification Number) that we handle as part of closing, and an operational bank account for payments. The deal is signed before a notary public in Miami, or by an apostilled power of attorney from Spain.
What are the closing costs when buying new construction in Brickell?
For a $500,000 unit, closing costs sit between $8,000 and $10,000 (1.6-2% of the price): title, escrow, recording fees, closing attorney, mandatory title insurance. Importantly, Florida has no transfer tax equivalent to Spain's ITP. Annual property tax runs around 1.2-1.5% of assessed value ($5,000-7,500/year on a $500k unit). Compared to Spain, the tax cost of buying is significantly lower.
How is the purchase financed from Spain?
There are two routes. First: a local US mortgage with banks that work with non-resident buyers (City National, HSBC, Wells Fargo Private Bank). Typical LTV 60-70%, 30-year fixed rate, proof of assets and reserve requirements. Second: financing from Spain against existing assets — a second mortgage on an unencumbered property, a personal line of credit, or equity release. We work with financial advisors specialised in cross-border deals who structure the optimal option for your wealth profile.
What tax obligations do I have in Spain as a US property owner?
As a Spanish tax resident, you must declare the property on Modelo 720 (foreign assets, if it exceeds €50,000) and annually on your income tax return, either via imputed income (personal use) or rental income. The Spain-US double taxation treaty allows you to deduct tax paid in the US against rental income. We connect you with a tax advisor specialised in Spain-US transactions to optimise the structure from the start.
What rental yield can I expect in Brickell?
Residential rental in Brickell yields between 5 and 7% gross annually on the purchase price for premium units. House of Wellness, thanks to its differentiated wellness programme and location in a new micro-zone of the district (1228 Brickell), projects rental yield at the high end of that range: 6-7% gross. After community fees, taxes and management (typically 25-30% of gross income), net yield sits between 4% and 5% — above listed US REITs and much of the Spanish residential rental market.