Are you trying to figure out, what buying a property in Spain costs? If you are considering buying a property in Spain, and trying to understand the total costs related to the process, you have landed to right place. Buying property in Spain has certain costs on top of the purchase price, which normally include the tax, but also other fees that it is good to be aware of.
Buying property in Spain: Cost calculator
Spainforsale.com is the only property portal in Spain with a cost calculator for property buyers. It shows you the estimation of the tax as well as the other costs you need to include in your budget when buying a property in Spain.
You find the cost calculator next to each property for sale on Spainforsale.com. Just choose a property and find the cost calculator in the right column.
Buying a new development in Spain – costs
If you are buying a new development in Spain, the costs include at least:
The tax (VAT), which is 10% based on the purchase price. Then you need to add another 1,5 % of the purchase price for stamp duty and usually 1% of the purchase price to the notary & land registry fees, and 1% to the lawyer.
Buying a used property in Spain – costs
If you are buying a used property in Spain, the costs include at least:
The transfer tax (ITP, Impuesto de Transmisiones Patrimoniales) which is 7% of the purchase price. However, the ITP tax percentage might vary in each Autonomous Community. With resales the Notary fees and registration may vary from 0.5% – 1% of the purchase price, so this needs to be added to your budget plus the lawyer 1%.
Sounds complicated? We wanted to make it easier for you to calculate the budget. Check out our COST CALCULATOR. It is super easy to use and a great help when you need to evaluate the costs of buying a property in Spain. It will do the calculations automatically for you. This is a great tool for agents too!
Choose a property and you can easily find out the additional costs on the top of the property price by using the cost calculator in the right column.