Posted by on

Buyers costs in Spain

The amount of the buyer’s costs in Spain

· Transfer tax when buying an existing home. ( ITP ) Impuesto Trans Patrimoniales . The amount of the transfer tax is 8 % . Note that this may vary per Communidad Autonomo . For example, in Andalusia a scaled rate is applicable steadily advancing on the first EUR 400,000 will pay 8 % , from 400,000 to 700,000 9 % and anything above 700,000 10 %
· VAT / Sales tax when buying a new house . ( IVA ) Impuesto sobre el Valor Añadido . The amount of VAT is 10 % .
· Notary fees , between 0.6 % and 1 % . Note, however, that a notary in Spain does not perform checks on your purchase as you normally would in the Netherlands . So be very careful ! For example, you should check whether the property is free from a mortgage at the time of purchase , you can do this with the Land Registry , the Registro de la Propiedad .
· Registration fees in the ” Registro de la Propiedad ” , the Spanish Land Registry are approximately 0.3 % to 0.7 % of the purchase price .
· If you take out a mortgage on the property , you are charges owed ​​to the bank , the notary and land registry . The closing costs of the mortgage amount to 1 % to 1.5 % of the mortgage amount . The fees for the notary , registration in the land register and the format of the documents are up about 2.5% of the mortgage amount .
· Construction Tax . Impuesto sobre construcciones , instalaciones y obras . To apply for any building permit , you pay 2.5% tax , calculated on the value of your future home as the architect indicating .

Leave a Reply

Your email address will not be published. Required fields are marked *

Second home in the Sun!

Welcome to 2residence.com. We like to be at your service in finding the perfect property in the sunny south, Spain, France or Italy!

2Residence is a collaboration between two brokerage offices in the Netherlands and Spain. We present you the best the market offers in second homes in Spain, France and Italy.

Our portfolio consists of properties in the most popular regions in these countries: Property on the Costa del Sol in Marbella, Ibiza and Mallorca in the Balearic Islands and on the Costa Blanca in Javea, Spain.

In France, we offer many historic homes, but also the popular regions Cote d'Azur, the Dordogne and Normandy.

In Italy, we concentrate on the Tuscany region, Umbria, Sardinia, Marche and Lazio (the region of Rome).

Our local partners have many other properties for sale, our website is just the shop window. We can support you from start to finish with your property search!

Our services!

  • Property scouting service, no obligations!
  • Legal support
  • Translation
  • Helping you organise your visit
  • Aftersales services
  • Rental service
  • key holder and property management service
  • Taylor Made services
  • All on a no cure no pay base!
>> Read More