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 .