Can I live in Spain permanently if I buy a property?

Could you please clarify for me, if I were to purchase a property in Spain, would that automatically entitle me to permanent residency in the country? I'm interested in understanding the legal implications and requirements that come with such a purchase. Could you explain the general process, if there are any specific qualifications or conditions I need to meet, and if there are any other factors I should consider before making such a decision? I'd greatly appreciate your insight on this matter.