Where do Georgia and Spain differ, criterion by criterion?
Spain offers a way of life and a deep letting market inside the EU, but since April 2025 a home there opens no residence permit. Georgia offers cheaper space, light taxes and a permit tied to the flat. The weighing is yours.
| Criterion | Georgia | Spain | Source, Spain |
|---|---|---|---|
| Price per m² | Batumi turnkey USD 1,960, about EUR 1,749 (June 2026); Tbilisi white frame USD 1,432, about EUR 1,278 (August 2026) | EUR 2,355 appraised, second quarter of 2026 | Ministry of Housing |
| Price change, one year | Batumi +9.8% (June 2026); Tbilisi +6.8% (August 2026) | +12.2% (second quarter of 2026) | INE |
| Tax on a resale purchase | None; registry fee GEL 150 | 6% to 13% by region | Ministry of Finance |
| Tax on buying new | 18% VAT in the price if the seller is VAT-registered | 10% VAT plus 0.75% to 1.5% stamp duty | VAT Law, Art. 91 |
| Yearly tax, empty home | No building tax unless family income topped GEL 100,000 the year before | IBI plus tax on imputed income | Local Finance Law, Art. 72; Non-Resident Income Tax Law, Art. 24 |
| Tax on rent | 5% of gross | 24% of gross (non-EU owner); 19% of net (EU or EEA owner) | Same law, Arts 24-25 |
| Tax on a sale gain | 0% after 2 years; 5% before | 19%; buyer withholds 3% of the price | Same law, Art. 25 |
| Residence from the home | Above USD 150,000: 1-year permit; above USD 300,000: 5-year permit | None since 3 April 2025 | Organic Law 1/2025 |
| Gross yield | Tbilisi 8.7% (August 2026); Batumi 7.1% (June 2026), Galt & Taggart | 6.5%, asking prices (second quarter of 2026) | idealista |
| Foreign buyers' share | Batumi 48% of registered deals (Colliers, September 2026) | 15.98%, a record (second quarter of 2026) | Association of Registrars |
| Currency and bloc | Floating lari, USD-priced flats; EU accession talks suspended since 2024 | Euro; inside the EU and Schengen | - |
How much home does EUR 300,000 buy in each market?
| Place and price per m² | Floor area | Tax on a resale purchase |
|---|---|---|
| Madrid city, EUR 5,418 | about 55 m² | 6%: EUR 18,000 |
| Barcelona city, EUR 4,602 | about 65 m² | 10%: EUR 30,000 |
| Marbella, EUR 4,528 | about 66 m² | 7%: EUR 21,000 |
| Valencia city, EUR 2,973 | about 101 m² | 9%: EUR 27,000 |
| Alicante city, EUR 2,279 | about 132 m² | 9%: EUR 27,000 |
| Spain average, EUR 2,355 | about 127 m² | 6% to 13%, by region |
| Batumi turnkey, about EUR 1,749 | about 172 m² | None |
| Tbilisi white frame, about EUR 1,278 | about 235 m² | None |
Read the areas as orders of size. Appraised values are not sale prices, as idealista has noted; registrars put recorded deeds at EUR 2,487 per m² in the same quarter. A Tbilisi white-frame flat still needs finishing. The budget equals USD 336,210, above Georgia's USD 300,000 investment-permit line if the accredited valuation agrees.
Which Spanish region charges what on a resale?
The buyer of a second-hand home pays transfer tax, ITP, at a rate each region sets. Reduced rates are tied to a main home, so a non-resident buying a holiday flat should budget at the general rate; we found no region charging foreigners more.
| Region | Resale tax | Stamp duty (AJD), new build |
|---|---|---|
| Madrid | 6% | 0.75% |
| Canary Islands | 6.5% | 0.75% |
| Andalusia | 7% | 1.2% |
| Balearic Islands | 8% to EUR 400,000, by bands to 13% above EUR 2 million | 1.5% |
| Valencia region, with Alicante | 9% from 1 June 2026 (was 10%); 11% above EUR 1 million | 1.4% |
| Catalonia | 10% to EUR 600,000, by bands to 13% above EUR 1.5 million | 1.5% |
The base is the cadastral reference value on the purchase date, or the price if higher (Transfer Tax Law, Article 10), so paying below that value does not cut the tax.
What changes for a new build, and what do notaries and registrars charge?
A developer's first sale of a new home pays 10% VAT instead of ITP (VAT Law, Article 91.Uno.1.7, covering up to two garage spaces sold with it), plus regional stamp duty on the deed. The Canary Islands charge IGIC instead of VAT; we could not confirm its rate for new homes.
Notaries and land registrars bill by official 1989 scales, less 5%. At EUR 300,000 that is about EUR 388 and EUR 205 (our calculation), before page fees, copies and 21% VAT, so ask for estimates. Georgian tariffs are in our guide to buying costs in Georgia.
In practice a foreign buyer also needs an NIE, the identity number for foreigners, requested in Spain or at a consulate on form EX-15. The consulate in Stuttgart quotes 4 to 5 weeks and notes it gives no right to reside.
How far apart are the bills on a EUR 300,000 home?
| Item | Valencia region, resale | Andalusia, resale | Valencia region, new build | Georgia |
|---|---|---|---|---|
| Transfer tax or VAT | EUR 27,000 (ITP 9%) | EUR 21,000 (ITP 7%) | EUR 30,000 (VAT 10%) | None |
| Stamp duty | - | - | EUR 4,200 (1.4%) | None |
| Notary, by scale | about EUR 388 | about EUR 388 | about EUR 388 | GEL 1,536 (about EUR 528), if used |
| Land Registry, by scale | about EUR 205 | about EUR 205 | about EUR 205 | GEL 150 (about EUR 52) |
| 21% VAT on both fees | about EUR 125 | about EUR 125 | about EUR 125 | - |
| Total | about EUR 27,718 (9.24%) | about EUR 21,718 (7.24%) | about EUR 34,918 (11.64%) | about EUR 579 (0.19%) |
A new build in Andalusia comes to about EUR 34,318 (11.44%). The Georgian notary line applies Resolution No 507, Article 23: GEL 1,162.5 plus 0.1% above GEL 500,000; without a notary, only the registry fee remains.
Which Spanish rules are in flux before the 29 November 2026 election?
The 100% tax on non-EU buyers never became law. Bill 122/000196, lodged by the Socialist group in May 2025, would have taxed purchases by buyers resident outside the EU at 100%, per PwC's summary. It never passed its first vote, and it lapsed when Royal Decree 806/2026 dissolved the Cortes on 6 October 2026 ahead of the 29 November 2026 election. A new parliament could revive it.
A housing decree is in force, pending validation. Royal Decree-law 29/2026 took effect on 8 October 2026; on 3 November 2026 we found no parliamentary validation in the official gazette. Its earlier version, Royal Decree-law 26/2026, was repealed after Congress refused to validate it (resolution of 2 October 2026). For foreign owners it brings:
- 10% VAT on furnished lets of up to 30 nights from 1 December 2026 (Article 7);
- an optional IBI surcharge on tourist flats in stressed areas of up to 50%, or 150% for owners of four or more (Article 8);
- from 2027, imputed income on unlet homes at 1.1%, 1.5%, 2% or 3% of cadastral value by bands (Article 6).
If the vote fails, the decree is repealed from then on.
What does an empty Spanish second home cost each year?
The town hall levies IBI, generally at 0.4% to 1.10% of cadastral value (Local Finance Law, Article 72). The state also taxes a non-resident on income imputed to an unlet home: 2% of cadastral value, or 1.1% where revised values took effect from 2012, a rule the October decree extends to 2026, pending validation. It is counted by days, with no expenses, at 24%, or 19% for EU or EEA residents (Non-Resident Income Tax Law, Articles 24.5 and 25.1.a).
Our example: at a cadastral value of EUR 120,000 and the 1.1% rule, a non-EU owner pays EUR 316.80 a year, plus IBI of EUR 480 to EUR 1,320. Whether the 2027 scale reaches non-residents we could not confirm. Georgia imputes no income to an empty flat and, under Law No 1874, taxes an individual's buildings only above GEL 100,000 of family income.
Does owning in Spain bring a residence permit?
No. Organic Law 1/2025 ended the investor routes of Law 14/2013, including the EUR 500,000 property option, from 3 April 2025; our country comparison tool covers the transition. A title deed can now only help prove means (Royal Decree 1155/2024, Article 62.3). Two routes remain for buyers who will not work for a Spanish employer:
- Non-lucrative residence: no work in Spain, health insurance and 400% of IPREM a month, plus 100% per dependant (Articles 61-62). With IPREM at EUR 600, still the 2023 level in 2026 according to OCU, that is EUR 2,400 a month or EUR 28,800 for the 1-year first permit (our calculation).
- International teleworker (digital nomad): remote work for clients or employers abroad, with income of 200% of the minimum wage, about EUR 2,849 a month by our calculation from the 2026 wage; confirm the figure with the consulate.
In Georgia the flat itself is the ground: above USD 150,000 (about EUR 133,845) for a renewable 1-year permit, above USD 300,000 for a 5-year one, with no income test. See our guide to residence by property.
How is long-term rent taxed: 24% of gross, 19% of net or 5%?
An owner living outside the EU and EEA, in Georgia, Britain, the USA or Israel, pays Spain 24% of gross rent with no costs deducted (Non-Resident Income Tax Law, Articles 24.1 and 25.1.a). A resident of another EU or EEA state pays 19% after directly linked expenses (Article 24.6). On EUR 12,000 of yearly rent, that is EUR 2,880 for the non-EU owner, against EUR 600 at Georgia's 5% of gross (our calculation). See our guide to rental income tax in Georgia.
What stands between a Spanish flat and holiday guests?
Tourist-let licences are regional, and three national layers now surround them:
- The neighbours. Since 3 April 2025, tourist letting needs the owners' community's prior, express approval, given by three fifths of owners holding three fifths of the shares (Horizontal Property Law, Articles 7.3 and 17.12).
- A national number, struck down. The Supreme Court annulled the registration procedure and number of Royal Decree 1312/2024 in rulings of 19 May, 21 May and 1 June 2026; regional licences still apply.
- The October decree, if validated: 10% VAT on short stays and the IBI surcharge described above.
Barcelona plans to let all its roughly 10,000 tourist-flat licences expire in November 2028, according to 3Cat. The Valencia region needs a favourable municipal planning report before registration (Decree-law 9/2024, per Cuatrecasas), and the Canaries allow tourist use only where planning permits (Law 6/2025). For the Georgian coast, see Airbnb in Batumi.
How large and how fast-moving is each market?
Registrars recorded 698,684 Spanish home sales in the 12 months to the second quarter of 2026. Foreigners, counted by nationality and so including residents, made 15.98% of purchases in that quarter, a record, rising to 46.43% in Alicante province and 37.01% in Malaga province. Batumi registered 4,227 flat sales from July to September 2026, by our sum of Colliers' monthly counts; see our Batumi market review and, for Tbilisi, our price index.
INE counted a record 96.8 million international tourists in Spain in 2025. Yet idealista's gross yield fell to 6.5% in the second quarter of 2026 from 7.2% a year earlier, with Madrid at 4.7%. Tbilisi's 8.7% is explained in our rent index.
How is a sale taxed, and who holds money back?
A non-resident seller pays Spain 19% on the gain (Non-Resident Income Tax Law, Article 25.1.f), and the buyer keeps back 3% of the price as an advance (Article 25.2): EUR 9,000 on a EUR 300,000 sale, gain or not; the seller's return settles the difference. A municipal land-value tax also applies; ask a Spanish adviser who bears it. In Georgia, a home owned over two years sells tax-free, a quicker sale pays 5% on the gain, and a private buyer withholds nothing.
Which priorities lead to which country?
| Your priority | Leads to | Why |
|---|---|---|
| Life inside the EU and Schengen | Spain | Residence through income or remote work, never through the home |
| A permit resting on the property | Georgia | Spain closed its investor route on 3 April 2025 |
| Low cost of buying | Georgia | About EUR 579 against EUR 21,718 to EUR 27,718 on a EUR 300,000 resale in Andalusia or the Valencia region |
| Holiday-let demand | Spain | 96.8 million foreign tourists in 2025, though licences and neighbours' votes restrict new lets |
| Low running costs and rent tax | Georgia | No imputed income on an empty flat; 5% of gross rent against 24% for a non-EU owner |
| A large, liquid resale market | Spain | 698,684 registered sales in 12 months |
Other euro options on our site: Georgia or Portugal, Georgia or Greece and Georgia or Montenegro; outside Europe, Georgia or Dubai.
Risks and exceptions
- Expecting a Spanish permit from the purchase. Since 3 April 2025 residence rests on income or remote work, not on what the home is worth.
- Budgeting with an old Valencian rate or the wrong base. The resale tax is 9% from 1 June 2026, charged on the cadastral reference value when that exceeds the price.
- Buying for tourist lets without the neighbours. A community can refuse approval, and Barcelona's licences are set to end in November 2028.
- Treating headlines as law. The 100% tax lapsed unpassed, while the October 2026 decree is in force but still unvalidated on 3 November 2026.
- Forgetting the empty-home tax. A non-resident owes tax on imputed income for every day the flat stands unlet.
Frequently asked questions
Does Spain still have a golden visa for property buyers?
No. Its investor routes, including the EUR 500,000 property option, ended on 3 April 2025.
Do non-EU buyers pay a 100% tax in Spain?
No. Bill 122/000196 lapsed unpassed when the Cortes were dissolved on 6 October 2026; it could return after the 29 November 2026 election.
How much transfer tax does a resale home carry in Spain?
From 6% in Madrid to 10-13% in Catalonia; 9% in the Valencia region since 1 June 2026.
Which country taxes rent less for a non-EU owner?
Georgia, at 5% of gross rent, against 24% of gross in Spain.
Sources
- Regional taxation 2026, chapter IV and chapter II, Ministry of Finance, 23 September 2026 (accessed 3 November 2026)
- BOE consolidated texts: Transfer Tax Law, VAT Law, Local Finance Law, Non-Resident Income Tax Law, Income Tax Law, notaries' scale, registrars' scale and Horizontal Property Law (accessed 3 November 2026)
- NIE, Ministry of the Interior, and NIE sheet, Consulate of Spain in Stuttgart (accessed 3 November 2026)
- Initiative 122/000196, Congress of Deputies, and New tax on non-EU residents, PwC, 5 June 2025 (accessed 3 November 2026)
- Royal Decree 806/2026, 6 October 2026, and Royal Decree-law 29/2026, 7 October 2026, BOE; tax measures of the decree, Economist & Jurist (accessed 3 November 2026)
- BOE: Organic Law 1/2025, Royal Decree 1155/2024, Royal Decree 126/2026 and Royal Decree 1312/2024, updated 18 July 2026 (accessed 3 November 2026)
- SMI and IPREM in 2026, OCU, and digital nomads FAQ, UGE-CE (accessed 3 November 2026)
- Barcelona tourist flats, 3Cat, 21 June 2024; Valencia tourist homes, Cuatrecasas; Canary Islands Law 6/2025, BOE (accessed 3 November 2026)
- INE: House Price Index, second quarter of 2026, 7 September 2026, and FRONTUR, December 2025, 3 February 2026 (accessed 3 November 2026)
- Appraised value, table 1 and table 4, second quarter of 2026, Ministry of Housing (accessed 3 November 2026)
- Registry statistics, second quarter of 2026, Association of Registrars, August 2026 (accessed 3 November 2026)
- idealista gross yields, Europa Press via Infobae, 6 July 2026, and appraised value and market price, idealista (accessed 3 November 2026)
- Galt & Taggart: Tbilisi, August 2026, 23 October 2026, and Batumi, 2Q26, 14 August 2026 (accessed 2 November 2026)
- Colliers Georgia figures via International Investment, 20 October 2026, and BM.ge, 23 September 2026 (accessed 3 November 2026)
- Legislative Herald of Georgia: Law on the Legal Status of Aliens, Tax Code and Resolution No 507; registration fees, Public Registry; exchange rates, National Bank of Georgia, 3 November 2026 (accessed 3 November 2026)
Change log
- - Comparison published from Spain's Official State Gazette, Ministry of Finance, INE and Association of Registrars, and Georgian law and market data.