Purchasing a property is an important decision for most people, often associated with a major financial investment. If the purchase takes place in a foreign country where law, taxes and charges are different, the process and the consequences following the purchase may be irreversible.
To uncover legalities and taxation, we recommend all buyers to seek advice from a competent local lawyer and possibly an accountant. However the cost of the purchase itself can be calculated using the following 3 steps:
The cost involved in buying a Spanish property is approximately between 10% – 15% of the purchase price:
· Transfer Tax resales: 8%-10% (depends on purchase price 8%; < 400k, 9%; 400-700k and 10%; > 700k).
· Transfer Tax new development: 10% + 1,5% stamp duty. Ask for further details
· Notary Fees: 1%
· Lawyers Fees: 1%
· Connect amenities: upon number
· Mortgage Fees 1% – 2%
“In addition, VAT (21%) will be payable, where applicable
In the form below you can calculate an estimate of the purchase costs. Please note that these guide figures are only provided for initial guidance and purely for indicative information purposes. Buyers can be provided with the actual figures appropriate to their purchase at the time of their acquisition.
Do you have any questions feel free to contact us and we will get back to you shortly