Purchase Costs
When buying a property in Spain, in addition to the purchase price, you will need to factor in fees and taxes. You should expect to pay 10% to 13% of the purchase price and this is broken down into the following:
- 10% Stamp Duty / Transfer Tax
- 1% Notary Fee
- 1% Land Registry Fee
- 1% Legal & Others
* If you are buying a plot of land from a developer or a new build property this will be subject to VAT/IVA instead of stamp duty/Transfer Tax.
* If you are buying with a mortgage there will be additional costs to consider such as bank valuation, transmission tax, notary, property registration, admin for new mortgage deed and mortgage set up fees.
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Other fees to consider:
- Home Insurance
- Life Insurance
- Bank Charges
- New contracts with public service companies (if applicable)
* The above information is a guide only and we advise to consult your lawyer for accurate costs.