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 personal 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.
The information on this page is indicative and editorial in nature. It does not constitute legal, tax or financial advice. Each transaction is reviewed with local professionals before any decision is made.
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: Returns depend on the property, costs, occupancy and market conditions. Each opportunity is assessed individually, and no return is guaranteed. Florida does not impose a state personal income tax. This does not remove federal taxes, property taxes or other tax obligations that may apply to the buyer. 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). The financing structure should be reviewed with a financial institution or an independent financial adviser. 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, closing costs vary according to the property, the financing structure, title insurance and the professional services required. They must be calculated individually before completing the purchase. The transfer may be subject to Documentary Stamp Tax and, in Miami-Dade, to an additional surtax depending on the type of property. The calculation and allocation of these costs must be confirmed for each transaction. There is no VAT on new-construction sales as in Spain.
Property tax is calculated from the property's assessed value and depends on the applicable rates, taxing authorities and any available exemptions. Miami-Dade provides an official estimator for individual properties.
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.
The financing structure should be reviewed with a financial institution or an independent financial adviser 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 or solutions from Spain against existing assets, on terms that depend on the lender and the applicant's profile. 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 and annual property tax must be calculated individually for each property.
Returns depend on the property, costs, occupancy and market conditions. Each opportunity is assessed individually, and no return is guaranteed.
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?
Closing costs vary according to the property, the financing structure, title insurance and the professional services required: title, escrow, recording fees, closing attorney and title insurance. They must be calculated individually before completing the purchase. Importantly, Florida has no transfer tax equivalent to Spain's ITP. Property tax is calculated from the assessed value and depends on the applicable rates and exemptions.
How is the purchase financed from Spain?
Financing for non-resident buyers depends on the lender, the applicant's profile, the documentation provided and the property. Terms must be confirmed directly with a financial institution or an independent adviser before any decision is made. 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?
Returns depend on the property, costs, occupancy and market conditions. Each opportunity is assessed individually, and no return is guaranteed. House of Wellness, thanks to its differentiated wellness programme and location in a new micro-zone of the district (1228 Brickell), sits at the high end of its segment. Net yield depends on community fees, taxes and the management model, and must be calculated transaction by transaction.